Landlords 'looking to expand buy-to-let portfolios'

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Landlords are increasingly looking to take advantage of a housing market which has reached the bottom by expanding their range of property available for letting, according to new research.

New statistics published by broker Mortgages for Business have revealed that 65 per cent of all buy-to-let mortgage activity has been on newly purchased property in June, compared to 55 per cent in January.

David Whittaker, managing director of the mortgage broker, suggested the increase in purchasing activity was indicative of an expectation among landlords and letting agents that property prices are now at their cheapest.

He said: "Buy-to-let landlords don't want to be caught napping as an upturn gains momentum … increased confidence in the buy-to-let markets suggests landlords expect the green shoots to take root in the foreseeable future."

The findings corroborate those published by Arla earlier this month, which suggested an increase in landlords purchasing properties in the last three months.

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