9 Jun

Buy-to-let property 'will continue to be popular'

Buy-to-let property 'will continue to be popular'

Landlords who have invested in buy-to-let property will continue to see demand from tenants, comments made by one man suggest.

According to Vincenzo Rampulla from the National Landlords Association, the notion that Britain will eventually become a country in which everyone owns their own residence is a myth.

He made his remarks in the wake of a speech given by the new housing minister Grant Shapps.

The Conservative politician, who assumed his current position following the general election that took place last month, said levels of homeownership ought to rise in the UK.

Mr Rampulla responded by stating: "Although 1.4 million people want to buy their own home, 75 per cent cannot afford a mortgage with an 80 per cent loan-to-value."

He added that more Britons are turning to renting in light of current economic circumstances and are re-thinking whether it is worth rushing into buying a home at the earliest opportunity.
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