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Over recent years the property market has gone through some very turbulent times, with the house price bubble that had been growing and growing for a decade finally bursting with the onset of the global credit crunch several years ago. On top of this, the banking industry was brought to its knees with, amongst other things, a shed load of toxic debt that resulted in some banks having to be bailed out by taxpayers in order to remain functional.

The upshot of all of this was that not only were property owners losing equity hand over fist on their properties as the prices plummeted but that those interested in purchasing properties found that the banks were no longer willing to lend at affordable rates unless you could put down a huge deposit and had the credit history of a very financially savvy saint!

Amongst the buyers that were affected were those interested in buy to let. With the difficulties experienced in getting a buy to let mortgage, many would be landlords were unable to purchase property even though the price of property had fallen. However, more recently things have improved in the mortgage and property markets, making it viable once again for potential landlords and those wishing to expand their portfolios to re-enter the buy to let market.

There are three main reasons why it has once again become a good time for buy to let. These are:

• After a very difficult few years, banks are now getting back on track. Whilst things may never be as simple as they were in the pre-credit crunch days, banks are now more willing to lend money to those that are looking to purchase property, including buy to let investors. You may find that even though you experienced difficulties in getting a buy to let mortgage two or three years ago, you are able to get one more easily now

• The UK base interest rate has now been at a record low of 0.5 percent for a record 27 months. This is the lowest it has ever been in the history of the Bank of England, which spans well over three centuries. Many believe that it will remain on hold at this rate for some time to come, which means that investors who take the plunge now may be able to get a really good deal on a buy to let mortgage

• Demand for private rental homes has reached an all time high in the UK, with potential tenants practically fighting over properties that come up for rent. Demand has reached such a high that tenants have been gazumping one another and even placing sealed bids for rental homes in some areas, reflecting the huge demand for rental homes. Rents have been soaring as a result of this, which means that with low interest rates on buy to let mortgages coupled with high rental income and demand, savvy landlords could make a real return on their investment.

Alex is a financial writer and blogger. He writes about everything from mortgages to credit cards to pay day loans.