NLA calls for buy to let mortgage sustainability
www.moneynews.co.uk > Mortgages > NLA calls for buy to let mortgage sustainability
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NLA calls for buy to let mortgage sustainability
Wed 22nd Jun 2011
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Richard Price, director of operations at the body, predicted that one in five UK households will rent their home within a decade, meaning the role of landlords will be crucial.
He said: "At the market's height, we witnessed the growth of mortgage offers, which for some investors with underachieving portfolios proved to be unsustainable."
Mr Price suggested that the industry has learned from past errors and the new buy to let deals hitting the market take into account future demand.
The NLA spokesperson pointed out that demand for landlords is currently very strong and this has led many to question whether property owners will develop their portfolios.
This month, Leeds Building Society reduced the rates and fees on its buy to let range.
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