NLA advises landlords on surviving the credit crunch

News Category: Management

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The National Landlords Association (NLA) has issued a series of tips to landlords to help them ride out the credit crunch and improve their returns.

Chief among their recommendations is that landlords carry out effective research of their market to ensure they are not charging a rate above those of competing landlords.

Also advisable, the NLA said is landlords who are struggling with mortgage repayments, or your circumstances change, talk to your lender and try to arrange a new repayment plan.

Meanwhile, professional portfolio landlords who are experiencing the same problem and who fail to find an appropriate deal with a traditional buy to let lender should explore commercial finance opportunities.

David Salusbury, chairman of the NLA, said: "Proper advice for landlords is critical. By following the NLA top tips, landlords could increase their chances of getting the most from their properties at a time when the wider economic outlook is not looking so good."

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