Landlords 'restricted by lack of finance'

Posted by Mark Cunningham

Due to a lack of buy-to-let mortgage finance, landlords in the UK are struggling to expand their property portfolios, it has been suggested.

According to Vincenzo Rampulla, public affairs officer at the National Landlords Association, banks and building societies need to provide more money to help solve this.

His comments come in the wake of the release of figures from Paragon Mortgages, which revealed that 12 per cent of landlords polled intend to purchase more real estate in coming months.

This is despite the fact that 36 per cent anticipate seeing a rise in tenant demand over the next 12 months.

Mr Rampulla remarked: "Until lenders release their purse strings we will see many landlords unable to make the most of low interest rates and increased tenant demand."

He went on to note that as more so-called 'accidental landlords' - who rent out property they are unable to sell - leave the market, tenant demand will rise.
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20/04/2010 17:11

News category: Property

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