Increase in buy-to-let demand from landlords

News Category: Industry News

This article was brought to you by Rentman the premium property management system.

More landlords are seeking buy-to-let mortgages for properties, according to new data released by Rics.

The rises in landlord demand were found to be particularly pronounced in the north-west.

In the three months up to September, there was a 29 per cent rise in demand in the north-west.

But demand for flats from landlords fell, with 15 per cent of surveyors reporting a dip in interest.

Lee Grandin, director of Landlord Mortgages, said the figures showed any talk of a revival in the lettings market was premature.

"Whilst there is increased activity for purchasing, this is against a backdrop of historically very low transaction levels," he said, adding that an upturn was unlikely to occur until more loans were granted to investors.

Mr Grandin added that he believed flats were generally good units for letting purposes and that the drop in demand was most likely to be due to caution from lenders.

See how a property management system makes property management easy