Landlords are extremely positive about the current state of the UK Buy-To-Let market, according to a recent survey carried out by CHL Mortgages.
According to the survey
- 71% of respondents were positive about the growth and stability of the UK Buy-To-Let market.
- 5% remained negative about the sector’s growth and stability.
The positive mood from UK landlords reflects the overall confidence in the lettings sector for tenant demand and the continued development of specialist products and services for landlords, such as Tenant Referencing and Rent Guarantee insurance.
The positive mood also follows the rise in the demand for Private Rental Sector (PRS) properties from working tenants as economic hardship in the UK continues due to financial problems in the Eurozone, pushing the cost of UK living higher.
Wage earners want to spend their hard earned income on renting a property to live in for the present, rather than putting down a large deposit to buy a home of their own.
The increased tenant demand in the UK has led to an increase in property investors and portfolio landlords searching for Buy-To-Let mortgages according to the Council of Mortgage Lenders (CML).
32, 300 buy-to-let mortgages were approved for landlords in the first quarter of 2012, making total growth increase by 32%.
The Buy-To-Let sector is growing at robust and sustainable rate, thanks to growing tenant demand for rental property and the fiscal squeeze being felt by every employed person in the UK.