Buy to let investments 'essential'

29 January 2010

Written by David Whittaker

Buy to let landlords have acted as "white knights" in the housing sector, the National Approved Letting Scheme (NALS) has claimed.

A spokesperson for the organisation said: "Without the private rental sector we would be in desperate straits."

Many people find it difficult to get on the housing ladder and there has previously been a shortage of local authority housing, he continued.

The private rental sector has stepped in as "the white knight" because housing associations have often been unable to home those left behind by local authorities.

"Without buy to let investments … there would be a very, very serious housing problem," he explained.

The comments follow reports from the British Property Federation that private landlords will increasingly be required to fill a gap in housing.

Councils should encourage private rented housing, it was noted, because funding for social housing has come to a stand-still.

The NALS spokesperson explained that people often prefer to rent houses in today's climate as it is no longer imperative to become a homeowner.

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