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Wednesday, April 28, 2010

Professional landlords to expand

Around 28 per cent of landlords plan to buy more properties to rent out during the coming year, rising to 40 per cent among investors who already own five or more properties according to figures released by LSL Property Services.

Just under half of landlords think now is a good time to invest in property, mainly due to rising tenant demand.

Problems with obtaining mortgage finance

But nearly two-thirds of investors thought it was now harder to get a mortgage than it had been three years ago, with 28 per cent saying it was much more difficult.

Only 11 per cent of smaller landlords had successfully obtained a mortgage during the past year, rising to 23 per cent among larger investors.

Figures from the Council of Mortgage Lenders show that only 93,500 buy-to-let mortgages were advanced during 2009, a quarter of the number seen in 2007.

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