Landlords confident about lettings market

Posted: 22 Jan 2007 11:31:02 GMT


            Property News - Landlords confident about lettings market

Confidence in the buy to let market is strong, with 53 per cent of landlords planning to remain in the market for more than ten years, according to research from Alliance & Leicester.

Despite the possibility of further interest rate rises in the future, confidence in the buy to let market is strong, with 53 per cent of landlords planning to remain in the market for more than ten years, according to a poll from Alliance & Leicester.

Only two per cent of the landlords questioned by the bank said that if interest rates increased further they were likely to sell some or all of their letting property, while 32 per cent said they would do nothing and 38 per cent said that they would increase rents.

The vast majority (75 per cent) of landlords said that they felt optimistic about the prospects for the lettings market, while 68 per cent predicted that good rental yields would produce good returns for them.

Head of intermediary mortgages at Alliance & Leicester Mehrdad Yousefi said: "This upbeat view of the buy to let market from those at the coal face is encouraging.

"Landlords' love affair with the buy to let market is not without justification and it comes as no surprise that four in ten (41 per cent) expect to buy further letting property in 2007."

Most landlords were making a significant return in buy to let, with 71 per cent claiming to make a profit when comparing their letting income with their letting costs.


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