11 Feb

Importance of private rented sector 'being recognised'

Importance of private rented sector 'being recognised'

The government has started to recognise the importance of the private rented sector, it has been claimed.

According to the Association of Residential Lettings Agents (ARLA), Westminster now understands that buy-to-let landlords are vital to the housing industry in the UK.

It noted that the announcements relating to new regulation and legislation have all demonstrated the government's commitment to finding a long-term solution to the housing problem through the private rented sector.

Ian Potter, operations manager at ARLA, urged politicians to help the industry recover quickly.

"Unless the government frees up further buy-to-let lending for responsible landlords who recognise the importance of investment in residential property, then the UK is going to struggle to house future generations," he warned.

Figures released by the Council of Mortgage Lenders revealed that buy-to-let lending activity increased in the final quarter of 2009, compared with the previous three months.

It also noted that the number of buy-to-let properties taken into possession in the timeframe fell by 25 per cent, in comparison to the third quarter of 2009.ADNFCR-1222-ID-19611527-ADNFCR

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