NLA to give evidence - buy to let mortgages

30 June 2009

Landlords and those looking to secure buy to let mortgages will be represented by the National Landlords Association (NLA) in a Treasury Select Committee investigation into mortgage arrears.

The NLA announced this week that it will give evidence during the analysis of the sector, which has seen a number of property professionals struggle to find the finance they need to take out mortgages.

In many cases, landlords have had to find the money to get mortgages with average loan-to-values of around 70 and 75 per cent, which the association claims has led to "significant difficulties" for some of its members.

David Salusbury, chairman of the NLA, said: "We are in no doubt that the lack of availability of mortgage finance is having severe consequences for landlords across the UK."

It comes after editor of Property Hawk website Chris Horne suggested that, although there is strong demand for buy to let mortgages, there are a number of would-be landlords who cannot find the finance to secure the loans.

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