24-04-2008
Landlords bullish despite market turmoil
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
Professional landlords will continue to buy properties across the UK, despite the current uncertainty in the housing market, a new study has revealed.
According to research by Mortgage Works, 44 per cent of those polled said that the current climate would not halt them expanding their property portfolios, possibly using the opportunities to snare bargain prices.
Only 12 per cent of landlords said that they would possibly consider selling some of their houses as a result of the uncertainty in the markets.
Andy McQueen, managing director of Mortgage Works, said: "Clearly the current climate is not ideal for first-time landlords, given the limited number of deals available to them, but experienced investors may find excellent opportunities in a cooling housing market to purchase additional property."
Earlier this week, the National Landlords Association praised the move by the government to introduce tenancy deposit protection into contracts between tenants and landlords.