15 Oct

Buy to let landlords 'not hurting first time buyers'

Buy to let landlords 'not hurting first time buyers'

Claims that the popularity of buy to let mortgages is impacting on prospects of first time buyers have been refuted by representative group for landlords.

According to the National Landlords Association, allegations that buy to let buyers are squeezing the supply of housing are unfounded since the kind of properties bought to let out are quite different to those that first time buyers target.

Simon Gordon, head of public affairs for the organisation, said:" A great many buy to let properties, particularly in London, are not the type of properties that first time buyers will be buying.

"First time buyers are not going to be buying luxury flats in Victoria and Westminster, which sometimes are what some buy to let landlords do buy."

News of Mr Gordon's comments comes after a recent survey from Nationwide showed that one in ten Britons now own a second home.

Meanwhile, a further 14 per cent are considering adding to their property portfolio, according to the study.


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