Buy-to-let amateurs 'will leave the market'
News Category: Industry News
Published: 14-May-2008
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With the impact of the credit crunch continuing to take hold in the UK, a number of the less experienced buy-to-let landlords will vacate the market.
That is the opinion of Simon Zutshi, founder of the Property Investors Network (PIN), who said that falling house prices will lead "amateur" landlords to take a break from the buy-to-let market.
He maintained that, in addition, investors will be discouraged by the difficulties involved in building up a property portfolio.
Mr Zutshi explained: "You have a lot of amateurs in the buy-to-let market, who have one or two properties, and it's getting harder to mortgage properties, because the mortgage companies are so busy.
"It's not that they haven't got work, it's a real misconception that they haven't got loads of work. They've got so much work they're closing their doors just to put people off."
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