Mortgage brokers optimistic for landlords

Mortgage brokers are optimistic about the immediate prospects facing professional buy-to-let investors, new research has suggested.

A study of over 3,000 intermediaries by the Mortgage Works found that a clear majority expect landlords to either increase the size of their portfolios or maintain them as they are.

They predicted that some 44 per cent of buy-to-let investors would be looking to purchase new property in the year ahead, while a similar proportion could be expected to maintain holdings at their current level.

The intermediaries anticipated barely one in ten landlords would actively seek to off-load property during 2008.

Andy McQueen, managing director of the Mortgage Works, said that while prospects were not particularly rosy for first-time landlords, the wider market was expected to perform robustly in the coming 12 months.

He commented: "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 29th April, 2008