22 Jun

Will buy to let lending boost availability of quality flats to rent in Basildon?

Will buy to let lending boost availability of quality flats to rent in Basildon?

Buy to let landlords could play a key role in providing high quality flats to rent in Basildon, Essex.

The National Landlords Association (NLA) has indicated that buy to let property will have an increasingly crucial role in the coming years.

However, the organisation's director of operations, Richard Price, has underlined the need for any expansion in buy to let mortgage products to be sensitive to the longer term needs of the industry.

He noted: "At the market's height, we witnessed the growth of mortgage offers, which for some investors with underachieving portfolios proved to be unsustainable. But early signs are that the market has learned from the past."

Competition for quality rented accommodation is particularly high at the moment, he added, explaining that one in five households are expected to rent privately "before the end of this decade".

Recent research by the NLA indicated that nearly half of landlords have reported an increase in tenant demand during the first three months of this year, while the same proportion expect this trend to continue.ADNFCR-1222-ID-800590152-ADNFCR

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