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At the peak of the last housing boom, towards the end of 2007 the banks were falling over themselves to lend to practically anyone. Buy to Let (BTL) and domestic mortgages were easy to come by for property investors and the general public alike. It is improbable that this easy finance will return in our lifetimes and this is perhaps no bad thing. In the domestic area most property owners expected 100% finance and in the case of the former Northern Rock in excess of 100%. This produced the property bubble of the past decade and despite the warning signs the financial institutions continued to lend. Property investors have largely expected to have to provide an element of financing when they buy properties. For much of the last ten years they provided deposit funds of 15% or more. The property investors intention being to refinance at the earliest convenience and then go on to purchase the next property. The deposit funds now demanded by the banks are around 25% of the house price but providing the vendor is able to sell below current market value the vendor should still be able to secure a quick house sale . We also have property investors with money on hand to buy your house for cash. The general public have a desire to purchase top quality properties in nice areas (when they have the funds to do so) but investors are seeking properties where they could add value and achieve the highest yield on their investment. Normally these are less expensive properties in less affluent areas as larger properties in nice areas offer quite poor returns.
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