Confidence returns to B2L sector

Published on

81% of landlords surveyed by CHL Mortgages are positive about the future for buy-to-let with many suggesting the sector has now shed its former get-rich quick image and is once again a market of professional landlords.

This comes as part of CHL Mortgages’ first quarterly survey of landlord customers. It has been taken to give a snapshot of landlord’s views on the current state of the buy-to-let market alongside thoughts on the future of the sector, their intentions for their portfolios and how they are dealing with any potential difficulties.

When asked whether they planned to buy or sell some of their investment properties in the near future, 38% said they intended to buy, 13% said sell, while the majority, 53%, are content to sit tight with the properties they currently have.

A majority of respondents (59%) manage their properties themselves suggesting their role as buy-to-let landlord is a profession rather than a hobby, with 34% using the services of a lettings agent. 71% of landlords say the rental money they gain from their buy-to-let properties is sufficient to cover the mortgage payments, management and maintenance fees, while 15% say it is only enough to cover the mortgage. 6.1% said their rental income was insufficient to cover their outgoings.

55% said they had not experienced any rental voids in the last 12 months with 28% having to deal with a rental void in the last six months, and 17% in the last year. Finally, only 12% of respondents said they were using Rental Guarantee Insurance to protect against voids and rent arrears.

The survey was completed by 359 individual respondents and undertaken in November 2009.

Bob Young , managing director at CHL Mortgages, said: “Our first quarterly survey of CHL landlord customers seems to show growing confidence in the buy-to-let sector and an overwhelming feeling that the market pain we have all felt over the last couple of years is starting to subside. In essence

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Access FS names members of new Equality Council

Access Financial Services, where nine in every 10 advisers come from minority backgrounds, has...

Bridging sector enters 2026 with rising confidence, research suggests

Four in every five intermediaries expect their confidence in the bridging market to increase...

Asset finance demand expected to lead SME funding needs through 2026

Asset finance is set to dominate SME funding demand in the next 12 months,...

Barclays cuts mortgage rates across remortgage and existing customer ranges

Barclays has reduced a wide selection of mortgage rates, with several products now dropping...

Just Mortgages strengthens self-employed recruitment team with senior hire

Just Mortgages has expanded its self-employed recruitment operation with the appointment of Sascha Mason...

Latest publication

Other news

Graham McClelland on Britain’s broken mortgage market

When Graham McClelland, the youthful and quietly intense chief executive of Gen H, arrived...

Younger consumers are ready for protection. So why aren’t we reaching them?

For years, the protection market has assumed that younger adults are less engaged with...

Access FS names members of new Equality Council

Access Financial Services, where nine in every 10 advisers come from minority backgrounds, has...