Buy to let mortgage holders defended by NLA
www.moneynews.co.uk > Mortgages > Buy to let mortgage holders defended by NLA
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Money News |
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Buy to let mortgage holders defended by NLA
Mon 18th Oct 2010
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David Salusbury, chairman of the institution, cited research by BDRC Confidential as showing that 58 per cent of landlords did not increase their rent over the past year.
In his opinion, buy to let mortgage holders are putting up with very challenging circumstances, as they are struggling to secure new funding and are likely to have to deal with a base rate and VAT rise in the future.
Mr Salusbury made his comments after the publication of the Buy to Let Index by LSL Property Services, which showed that London rents have hit their highest ever level.
"While the strongest rent increases have been in the London area, landlords in the south-west and north-west have experienced a decline in rental income," said the NLA representative.
He explained that the situation is different across each part of the country, with high rents not a consistent factor.
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