Increase in buy-to-let lending may lead to more flats to rent in London
An increase in buy-to-let lending in the third quarter of the year may have led to more flats to rent in London.
Figures released by the Council of Mortgage Lenders (CML) revealed that an ongoing demand for properties supported a 12 per cent rise in the number of landlords being offered finance by money lenders.
The trend looks set to continue, which may be unsurprising as the problems first-time buyers are having in the owner-occupier market have resulted in more people looking for flats to rent.
CML director-general Michael Coogan stated: "It is clear that in a market where access to home-ownership has become more difficult, the private rental sector is experiencing … high levels of demand for good-quality housing."
Earlier this week, founder of property website Briffy.com David Amstell said lending conditions have not changed for first-time buyers, leading individuals to take up tenancies as an alternative to buying a home.
By Chris Price
Published 11th November, 2010
© 2010 Estates IT Limited
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