15
Oct
Buy to let landlords 'not hurting first time buyers'
Claims that the popularity of buy to let mortgages is impacting on
prospects of first time buyers have been refuted by representative
group for landlords.
According to the National Landlords Association, allegations that
buy to let buyers are squeezing the supply of housing are unfounded
since the kind of properties bought to let out are quite different
to those that first time buyers target.
Simon Gordon, head of public affairs for the organisation, said:" A
great many buy to let properties, particularly in London, are not
the type of properties that first time buyers will be buying.
"First time buyers are not going to be buying luxury flats in
Victoria and Westminster, which sometimes are what some buy to let
landlords do buy."
News of Mr Gordon's comments comes after a recent survey from
Nationwide showed that one in ten Britons now own a second
home.
Meanwhile, a further 14 per cent are considering adding to their
property portfolio, according to the study.
