Landlords 'struggling to gain finance'

News Category: Industry News

An increasing number of people are interested in entering the buy-to-let market, it has been claimed.

Private rented sector expert at LettingFocus.com David Lawrenson explained how he has seen a rise in queries about the sector from prospective landlords.

However, he noted that some individuals are finding they are having "real problems" getting hold of mortgage finance and remortgaging current homes.

"The banks and building societies are extremely intransigent and looking for any excuses not to lend," Mr Lawrenson stated.

It was suggested this could explain why the Association of Residential Letting Agents recently reported figures suggest fewer landlords will be buying and selling property in 2012.

A survey by the body found the number of landlords expecting to acquire homes for their portfolio in the next 12 months has fallen since the fourth quarter of 2011.

Mr Lawrenson commented that tenants becoming indebted and evicted are increasing trends in the north of England, as people are struggling to pay their rent.

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