B2L landlords benefiting from crisis

Estate agent Your Move says buy-to-let landlords are benefiting from the liquidity crisis.

The number of leases commencing in January and February 2008 rose 21% compared to 12 months ago.

Your Move says not only has the credit crunch led to a pronounced rise in tenant demand, but that the trend is set to continue.

David Newnes managing director of Your Move, says: “The start of 2008 has seen considerable growth in the buy-to-let sector.

“Squeezed credit and volatile mortgage rates have contributed to an increased demand for rental accommodation.

“First-time buyers with little or no deposit are finding it virtually impossible to secure high LTV mortgages but they still need a roof over their heads and buy-to-let is filling the gap. The strong fundamentals are impossible to argue with.”

Your Move has seen a notable increase in the number of people looking to rent in the short term leaving landlords in a strong position to expand their portfolios.