Fewer landlords 'in rental arrears'
Fewer landlords are experiencing financial difficulties than was the case during the recession, new research has found.
Such was the findings of the latest buy-to-let arrears data published by the Council of Mortgage Lenders.
Commenting on the news, Simon Gordon, head of communications at the National Landlords Association, said the figures demonstrate the resilience of the private rental sector during a time which is likely to have proven difficult for many landlords.
He added fewer property professionals are struggling to make repayments, with arrears falling 37 per cent year-on-year, while the number of buildings being repossessed has also fallen.
"Clearly, the figures suggest the buy-to-let market is far more robust than originally feared. The government should take note of this when considering whether regulation is really necessary. Rather than wasting effort on further legislation they should be encouraging lenders to get credit flowing again," Mr Gordon urged.
His comments were recently echoed by Ian Potter, operations manager of the Association of Residential Letting, who said a lack of mortgage finance could be preventing new people entering the market.
Knowing their landlord is financially secure is likely to bring peace of mind to people looking for flats to rent in Wandsworth of another part of London.
Written by Ben Carter
Published 12th February, 2010
© 2010 Estates IT Limited
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The number of landlords finding themselves in buy-to-let arrears has fallen, it has been found - in news which could offer peace of mind to people looking for property to rent in London.