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Landlords lift brokers spirits
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| Mortgage brokers think landlords will taking advantage of the current market climate and snap up more properties |
THE prospect of continued purchasing by professional landlords is lifting the spirit of mortgage brokers throughout the UK.
A survey of 3,179 mortgage intermediaries, carried out by the specialist lending subsidiary of Nationwide, The Mortgage Works, found 44 per cent believed professional investors will continue to snap up properties over the coming months.
The same percentage of
respondents felt professional investors would maintain their portfolios.
In addition, only 12 per cent predicting some
investors would seek to sell off some of their properties.
Forty per cent of respondents suggested rent yields will rise further throughout the year and 94 per cent
expect tenant demand to
either remain static or in some cases, rise.
Despite these latest figures, 58 per cent of intermediaries suggest fewer first-time landlords will enter the market this year.
Managing director of
The Mortgage Works, Andy
McQueen, said: "Intermediaries are on the frontline of the mortgage market and are well placed to assess the prospects of professional
landlords."
He added: "Experienced
investors may find excellent opportunities in a cooling housing market to purchase additional property."
These findings also reinforce the results of a survey of the Royal Institution of Chartered Surveyors, which reports only two per cent of investors plan to sell off a property in the near future.
12:25pm Tuesday 29th April 2008
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