Letting agent calls for more buy-to-let activity

News Category: Industry News

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A letting agent has stated that favourable conditions have made it a good time for landlords to increase their investments in the buy-to-let market.

LSL Property Services has recommended that landlords look to take advantage of low interest rates, affordable property prices and rising rents to expand their portfolios.

This comes after the Bank of England's monetary policy committee earlier this week elected to maintain the base rate at 0.5 per cent, the level at which it has remained since March.

David Brown, commercial director for the letting agent, stated that this should make it easy for landlords to maximise their profits, provided that the benefits of the low base rate are passed on by mortgage lenders.

He said: "Landlords have access to deposits and therefore finance - they're in a great position to make hay while the sun shines."

This comes after LSL Property Services last month published research which revealed that average rents in July saw a month-on-month increase of 0.5 per cent in England and Wales, the highest such rise in more than a year.

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