13 Nov

Arla optimistic over buy-to-let market

Arla optimistic over buy-to-let market

The Association of Residential Lettings Agents (Arla) has welcomed the latest figures published by the Council of Mortgage Lenders (CML), which demonstrate that confidence is returning to the buy-to-let market.

CML statistics found that the level of lending in the buy-to-let sector has grown for the first time in two years.

Commenting on the rise, Ian Potter, operations manager of the association, said: "[The figures] suggest that the market is getting back on its feet following two years of pain through a lack of lending from high street banks."

However, Arla agreed with the CML's assertion that the market had faced some big challenges throughout the recession.

Meanwhile, Paragon Mortgages has described the report as a demonstration of the resilience of the buy-to-let sector.

The company's managing director commented that the market had proved it could adapt and cope with significant changes to the economic environment.

He added that the figures cast doubt over speculation that buy-to-let is a "risky" product.

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