64% of the UK’s landlords feel more confident about the buy-to-let market as we enter into the New Year, according to the latest findings from Upad’s monthly Rental Confidence Index.
The figure represents a 6% increase from the same survey that was conducted in December 2009.
Comments made by 2010 survey respondents feeling more confident included:
“More repossessions, uncertainty with interest rates, difficulty in getting mortgages all add up to an improved buy-to-let market.”
“More confident of buy-to-let in the New Year, more students looking for rooms.”
For the 36% who are feeling less confident, statements included:
“Buy-to-let mortgages are very difficult to get. Those available require very high arrangement fees – around three percent, and or low mortgage to value, or a high deposit.”
“Payments of Housing Benefit going direct to the tenant is making life very difficult�This is increasing voids and homelessness.”
James Davis, founder and CEO of Upad, commented:
“The results from this survey bode well for the private rental sector, which, I believe, will see real growth during 2010. This is a positive start after what has been a very difficult period.
“Many professional landlords are taking a medium- to long-term view by taking advantage of purchasing deals in the current economic climate. In doing so they run their portfolio like a business, which will help to minimise unnecessary void periods.”
