Despite imminent changes to buy-to-let lending, tax changes and new legislation making rental rulings more complicated, a recent surge in buy-to-let lending has shown that UK landlords are not shying away from taking on new properties.
According to the Council of Mortgage Lenders, September saw 24,100 buy-to-let loans approved, accounting for 18% of all new mortgage lending, up from 17,700 in September 2014.
Property portal Home.co.uk announced today that there is 45% fewer of homes for sale now than there was in November 2007. The shrinking of this national property portfolio may have contributed to the surge in investors wanting to secure their rental options. With this reduced level of property available to the market, more people are unable to get a foot on the ladder and instead are having to rent, leading to an increased demand for rental property – and the ability for landlords to demand a higher return on their investment.
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