A good time for buy to let landlords, expert says

17 May 2010

Written by Gavin Elley.

Low interest rates on buy to let mortgages are making it easier for landlords to keep on top of their repayments, which is also good for tenants.

This is the opinion of Malcolm Harrison, an independent property industry expert, who was commenting on the latest data from the Council of Mortgage Lenders (CML) regarding buy to let mortgage arrears.

According to the CML, the number of loans with arrears over 1.5 per cent of the value of the mortgage dropped to 19,300 in March compared with 20,700 at the end of 2009 and 28,800 at the same point last year. The body attributed the decrease in landlord debts to the low interest rates on home loans.

Mr Harrison noted that there is also growing demand from tenants, as first-time buyers are finding it difficult to buy property and are staying on the private rental market.

"There are various things that are happening and it is all, in many ways, good news for both landlords and tenants," he said.

Why not take a look at our best buy to let mortgages and make an enquiry online now.