Buy-to-let market "performing pretty well"

Published 05th Jun 2008

Despite the latest industry figures which show a rise in the number of landlords failing to meet their mortgage repayments, the buy-to-let market is "performing pretty well".

This is the Council of Mortgage Lenders (CML) response to the latest report on mortgage arrears from Bradford and Bingley. Sue Anderson from the CML has suggested that the B&B figures have been exaggerated as there are just 0.9 per cent of investment landlords that are in arrears of three months or more.

Ms Anderson said: "There has been some worsening in defaults, but no worse than we would expect and from a very low base."

The CML has said that there is still demand in the buy-to-let sector of the market and that it will remain strong as the number of people opting to rent, rather than buy, increases.

Investment properties that were repossessed in the first quarter of 2008 made up just 0.15 per cent of the more than one million buy-to-let properties, the Guardian online stated.

Source: ' Houseladder '

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