August 24, 2009
Buy To Let Lenders Should Be More Agressive
Buy-to-let lenders should start lending "more aggressively" to private landlords and other investors, according to one industry expert.
With the Council of Mortgage Lenders (CML) suggesting the buy-to-let sector has stabilised in recent months, Smartlandlord.co.uk managing director Keshav Thukaram said that this should be a "wake-up call" for the lending firms.
The CML revealed last week that some 21,600 new buy-to-let loans were advanced in the second quarter of 2009 - this was down four per cent on the previous three-month period, but represented a much smaller rate of decline than in the months before.
Mr Thukaram remarked: "These encouraging figures released by the CML … confirm what Smartlandlord.co.uk has said all along: the market has bottomed out and is starting to recover - albeit slowly."
However, he warned that private landlords should not see property investment as a short-term speculative move - it should be part of a long-term strategy.
Source: LettingZone.co.uk
