Growing confidence for buy-to-let landlords

UK buy-to-let landlords appear more optimistic about their futures following a recent survey, which showed that many are looking to build on their current property portfolios.

The survey, conducted by specialist lender CHL Mortgages, revealed that some 81% of the 359 respondents are feeling confident about the future of the buy-to-let market. 38% answered that they expect to buy further properties in the near future.

CHL Mortgages said that the latest results were encouraging, and that the growing demand for buy-to-let mortgages should translate into increased lending over the next 12 months.

The results also showed that 59% of landlords manage their own properties, which could suggest that there are more professional landlords operating in the UK again. Bob Young, Managing Director of CHL Mortgages, commented:

“[There is] an overwhelming feeling that the market pain we have all felt over the last couple of years is starting to subside. In essence, the survey reveals that buy-to-let has gone back to its roots and is now a sector dominated again by professional landlords rather than the type of borrower we saw in the boom years.”

Landlords received other good news earlier this week, after it was announced that the Department of Work and Pensions (DWP) would halve the amount of time residential landlords have to wait before claiming arrears from tenants.