The number of individuals entering the buy-to-let market is expected to increase in 2012, with the demand for mortgage lending remaining strong.
Almost two-thirds of brokers told The Mortgage Works they expected to do more business with landlords this year, as revealed in a new Nationwide Building Society survey.
As well as the number of new landlords increasing, brokers predict more professional buy-to-let property owners will look to expand their portfolios than in 2011.
Ian Andrew, managing director of group intermediary sales at Nationwide and The Mortgage Works, said…
“The figures suggest the sector is climbing its way back up”.
He added…
“While the volume of buy-to-let lending is nowhere near the volumes seen before the credit crisis began in 2007, last year’s buy-to-let lending reached more than £14 billion.”
Mr Andrew’s comments come after tenant eviction and rent collection firm Landlord Assist claimed the double-dip recession may lead to a slowdown in the market.
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