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Buy to let ''still resilient'' - buy to let mortgages

Published: 16.5.2008

The UK buy to let industry is resilient and its strength will help avert a more significant downturn in the property market, it has been suggested.

Major lenders of Buy to Let Mortgages have said the bulk of landlords are in a sound position and many will be able to take advantage of higher rents and lower prices by adding to their portfolios, reports Reuters.

Jeremy Law, head of buy to let lending at Bradford & Bingley told the news agency that the information his firm had coming in was that such landlords "are absolutely seeing the current market environment as an ideal opportunity for them either to continue to expand their portfolio or to start expanding them again".

The lender has said it will carry on lending Buy to Let Mortgages as there is still strong demand, using the proceeds from this month''s £300 million rights issue.

Earlier this week a survey by Mortgage Express found that six out of ten landlords believed now is a good time to increase their portfolios, Letting News reported.

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