Landlords 'should be encouraged' ? buy to let mortgages

02 December 2008

The private rental sector is an industry that needs to be "encouraged and supported", it has been claimed.

James Davis, the founder and chief executive officer of online lettings resource upad, has argued that the UK needs those with buy to let mortgages and the sector should be allowed to flourish under self-regulation.

He stated that without the private sector, more tenants would have to rely on social housing, creating a burden for the tax payer.

"We need to attract landlords into the market place rather than push them away," he commented, adding: "Offering a cost effective solution to them, helping them reduce their void period and offering additional services ... should be embraced."

The number of new tenants in the UK rose by approximately 20 per cent over the three months ending August 2008, according to the Association of Residential Lettings Agents.

Average rents during this period were £387 a week for houses and £253 for flats.