Buy-to-let 'has gone back to its roots'

News Category: Industry News

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A new survey of landlords has resulted in the claim that the buy-to-let market is once again becoming a professional sector, letting agents have been told.

The research carried out by CHL Mortgages revealed that 59 per cent of the people they surveyed saw their involvement in the industry as a career rather than a hobby, with 34 per cent using the services of letting agents.

Bob Young, managing director at CHL, said: "Buy-to-let has gone back to its roots and is now a sector dominated again by professional landlords rather than the type of borrower we saw in the boom years who was motivated by short-term ambitions."

He added that it was pleasing to see that landlords were becoming more positive about the future of the industry over the next fee years.

The survey found that 81 per cent were feeling optimistic about the state of the buy-to-let industry, with only 13 per cent planning to sell off any part of their portfolio.

Last month, research from LSL Property Services forecast that rental incomes would stand at around £8,000 per property for landlords in 2010, reported the Scotsman.

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