FSA 'recognises vital role of buy to let'

20 October 2009

Written by Steve Olejnik

The Financial Services Authority (FSA) has recognised the important role of the buy to let market in its latest paper that proposes a number of changes to mortgage regulation.

At least that is the view of Association of Residential Letting Agents (Arla) operations manager Ian Potter, who claimed that the regulator sees the buy to let industry as one which will help support the UK's housing needs in the years to come.

Reflecting on the FSA plans further, the Arla representative suggested that landlords need to be given access to mortgages and the private rented sector "bears the burden" when demand for property increases and a lack of housing stock occurs.

"With a rise in the number of amateur landlords and the much discussed 'reluctant landlords', the FSA has to ensure that there is enough lending available for landlords to increase and maintain their stock," Mr Potter explained.

Commenting on the new proposals on Monday, the Council of Mortgage Lenders revealed that it is looking forward to working with the FSA as it aims to further regulate the home loan sector.

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