When To Get a 100% Buy To Let Mortgage?

If you think you've missed out on the buy to let mortgage frenzy which swept through the market like a hurricane over the last few years then don't throw in the towel yet. You can still find a few brokers offering 100% buy to let mortgage deals on the high Street but admittedly they are few and far between these days.

With the housing market taking a serious nosedive over the last 12 months and with things still falling quite dramatically, now is a good time to plan for the next investment. Timing your purchase properly could lead to making substantial gains in the medium term.

We have seen a kind of no holds barred status for near on 10 years, at least in the UK. The housing market has seen unprecendented growth which has lulled many people into a false sense of security.

Investors who came to the party a bit late and arranged their 100% buy to let mortgage are now feeling the pinch badly. In fact many people are experiencing the horrible negative equity situation where their unpaid mortgage has a greater value than the value of their home and rental earnings do not cover the mortgage repayments.

For these people the bubble has well and truly popped! No wonder we are seeing record numbers of repossessions. But this was always on the cards. This unprecedented growth could not continue indefinitely and a correction has been expected for some time. Possibly it is one of the reasons we are seeing large numbers of people looking for positions doing data entry at home online. But that's another story!

It's great news for those of us who are delaying our next move ready to snap up some great deals which will inevitably come onto the market. In fact for first-time buyers the times ahead are looking quite rosy and we will no doubt see more brokers doing 100% first time mortgages when the market turns around.

So be patient, watch the market like a hawk and make your play when the time is right. Do it keenly and you'll be sitting pretty for many moons hence.