Landlords expected to increase portfolios

The majority of buy-to-let investors are expected to increase the size of their portfolios despite the property downturn.

That is the conclusion of broker the Mortgage Warehouse, which conducted research that showed some 44 per cent of mortgage intermediaries are expecting to buy new property.

A similar proportion are planning to maintain the current size of their portfolio, while a mere 12 per cent envisage downsizing in the year ahead.

Andy McQueen, managing director of the Mortgage Warehouse said that savvy landlords are showing increasing willingness to capitalise on the current downturn by snapping up cheap deals.

"Intermediaries are on the frontline of the mortgage market and so are well placed to assess the prospects of professional landlords," he explained.

"Clearly the current climate is not ideal for first-time landlords given the limited number of deals available to them, but experienced investors may find excellent opportunities in a cooling housing market to purchase additional property."

News posted on 28th April, 2008