Fewer landlords 'struggling to make mortgage payments'

News Category: Industry News

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The latest arrears data published by the Council of Mortgage Lenders (CML) proves more regulation of landlords is unnecessary, the National Landlords Association (NLA) has said.

Figures showed the value of new buy-to-let lending in 2009 was down to £8.5 billion from £27.2 billion in 2008.

However, the number of repossessed properties fell by 25 per cent in the final quarter of the year, showing landlords were able to make their mortgage payments despite lenders being more cautious approving new buy-to-let mortgages.

Simon Gordon, head of communications at the NLA, said the government should encourage lenders to allow more landlords to borrow money to buy houses.

He said: "Clearly, the figures suggest the buy-to-let market is far more robust than originally feared. The government should take note of this when considering whether regulation is really necessary."

Mr Gordon added that the figures showed the lettings market had remained resilient despite a tough period for landlords.

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