5 Jul

'Sustainability' needed to provide houses to rent in Plymouth

'Sustainability' needed to provide houses to rent in Plymouth

Landlords are calling for lenders to consider the long-term rental market when offering buy-to-let mortgages for houses for sale in Plymouth.

The National Landlords Association (NLA) says the rise in demand for houses to rent in Plymouth and across the UK, coupled with the increase in landlord mortgage products, may encourage investors to increase their portfolios.

According to the association, the private rental sector will have a "crucial role" in the coming years.

Richard Price, director of operations for the NLA, commented: "Competition for quality rented accommodation is currently very high; it is likely that before the end of this decade one in five households will rent privately."

There is great demand for buy-to-let investors to provide quality housing, he added.

Mr Price argues that lenders offering mortgages for rental properties need to ensure they are sustainable.

Recent research by the NLA found that 71 per cent of landlords believe the market would benefit from more buy-to-let lenders and greater competition.

Demand for property to rent in Plymouth could increase after a luxury boat manufacturer announced plans to build a factory in the city.

Princess Yachts' investment could result in workers moving to the area for new jobs.ADNFCR-1222-ID-800612204-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.