18 Jan

Greater number of British landlords to increase portfolios

Greater number of British landlords to increase portfolios

More landlords operating in the private rental sector in the UK could be set to increase their offerings to tenants this year as the market continues to thrive for buy-to-let properties.

In 2012, LSL Property Services reported that there were a number of times that rent prices reached record highs, and this has led, according to Mortgages for Businesses, to a number of landlords now opting to remortgage to afford to increase their portfolios.

It said that in the last three months of 2011, there had been 55 per cent of landlords undertaking this practice, while 2012 saw this proportion increase considerably to hit 80 per cent.

Most remortgages were coming on houses of multiple occupancy (HMOs), the organisation said, with smaller HMOs in particular being responsible for the fact that the average loan for purchase value has been able to be brought down across the course of the last year.ADNFCR-1222-ID-801525001-ADNFCR

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