Landlords Finding Mortgage Market Difficult
By |Published On: 14th September 2012|

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Landlords Finding Mortgage Market Difficult

By |Published On: 14th September 2012|

This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.

New findings from the Residential Landlords Association suggest landlords are having difficulty in the buy-to-let mortgage market.

Difficulty

Of 141 members of the Residential Landlords Association questioned,  A further 24% said they found it very difficult, with 22% saying they had to look around for a better deal.[1]

A combined 31% said that they were comfortable with the amount of time it took them to find a mortgage, with 14% describing it as easy and 17% saying it was fairly straightforward.[1]

Landlords Finding Mortgage Market Difficult

Landlords Finding Mortgage Market Difficult

 

Challenge

A major challenge facing newly appointed housing minister Mark Prisk is to negotiate a deal with banks to provide financial support to private landlords. This is crucial to stimulate the private rented sector in a period where more homes are required.

Residential Landlords Association Chairman Alan Ward welcomed the support of the Government but says the challenge of finance must be overcome quickly. Ward said: “We welcome the Government’s renewed commitment and interest in the opportunities that the private rented sector can play in meeting the country’s housing needs. However, this will not happen without financing from the banks.”[1]

He went on to appeal for and end “the difficulties in accessing finance between Government and the banks came to the end for the sake of those desperate for a roof over their heads.”[1]

[1] http://www.landlordtoday.co.uk/news_features/Half-of-landlords-finding-mortgage-market-difficult

 

 

 

 

 

About the Author: Em Morley (she/they)

Em is the Content Marketing Manager for Just Landlords, with over five years of experience writing for insurance and property websites. Together with the knowledge and expertise of the Just Landlords underwriting team, Em aims to provide those in the property industry with helpful resources. When she’s not at her computer researching and writing property and insurance guides, you’ll find her exploring the British countryside, searching for geocaches.

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