Insurance News Archive

Landlord buildings insurance customers 'seeing revival'

A revival in the buy to let market is being experienced by landlord buildings insurance customers, a specialist has stated.

Lee Grandin, director of Landlord Mortgages, said that the buy to let market is "definitely" beginning to improve, but added that there are many people who are struggling to come up with the money to pay for deposits.

He added that new landlord buildings insurance customers are the catalyst for growth in the market.

"A lot of the landlords that have been in the market are not actively purchasing at the moment. It's new investors who have quite a lot of cash and, as such, they are few and far between," the expert commented.

Mr Grandin said that an increase in the amount being lent to buyers may be the only way to ensure that the market sees high transaction levels return.

Meanwhile, Ian Potter, operations manager at the Association of Residential Letting Agents, recently stated that low interest rates and proportionately higher rental yields are making the buy to let market attractive again.

27 Oct 2009