Rental market 'will become more competitive' - buy to let mortgages

02 April 2009

The rental sector may become more competitive over the coming months, it has been suggested.

Ian Potter, an operations manager at the Association of Rental Lettings Agents, noted that there is a variety of properties on the market at present.

He said that "serious" buy to let investors will have carried out research into the array of homes up for sale in order to help them make a decision about which ones to purchase.

"Buy to let has always been about buying your market in finite detail, not just sticking a pin in a map," Mr Potter remarked.

He noted that there is an "oversupply" of two-bedroom flats in areas such as Leeds, while regions like Surrey may have an abundance of detached houses on the market.

During February, property values dropped two per cent in England and Wales, according to the Land Registry.

Falling prices could be advantageous for holders of buy to let mortgages seeking to expand their portfolios.

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