Insurance News Archive

Landlord insurance: Buy to let mortgage enquiries 'rising'

Written by Jonathan Walker

Enquiries for buy to let mortgages from landlord insurance holders are rising but there remains a lack of available products, according to an expert.

Michael Algony, marketing manager at Mortgages for Business, said that the company has seen more enquiries than ever for buy to let financing.

"What it really needs is a new lender to enter the market which is going to stir up a bit of competition," he explained.

Mr Algony said that mortgage brokers are hoping to see an improvement in the lending market over the next two months.

"As a landlord, if you have got cash, this is definitely the time to be buying," he added.

Mr Algony went on to say that landlord insurance holders who have invested wisely will manage to keep their portfolio intact and ride out the recession because there remains demand for rented property.

Recent research by BDRC found that 30 per cent of private landlords experienced rental arrears in the second quarter of the year.

08 Sep 2009