Buy-to-let conditions 'starting to improve'

News Category: Industry News

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Arla has expressed its confidence that market conditions for buy-to-let landlords are improving.

Members of the letting agents association have observed an increase in buy-to-let activity over the first half of this year, with reports suggesting that twice the number of landlords bought property in this period than in the previous three months.

The body also welcomed a report from the Council of Mortgage Lenders which suggested that levels of mortgage arrears are in decline, describing the news as positive for both struggling landlords and tenants.

However, Arla stated that the illiquidity of the property market remains an obstacle to long-term recovery.

Ian Potter, operations manager of Arla, said: "What is still needed … is an increase in responsible mortgage lending … I would urge the Government to continue to apply pressure on lenders to make this a reality."

Last week, the organisation called for greater government action to crack down on rogue letting agents who are operating without appropriate qualifications.

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