Buy-to-let mortgage market 'competitive', says ARLA

03 May 2006
Competition within the buy-to-let mortgage sector remains strong, according to the findings of the Association of Residential Letting Agents (ARLA), with the future looking bright for future investors.

There are currently high levels of renting in the UK and demand for rented accommodation looks set to persist, as the cost of buying a house remains high and more people continue to rent for longer.

ARLA did sound a word of warning however that despite being a profitable investment market, buy-to-let should not be entered into lightly as the overall quality of rented housing has risen.

"There is much more competition and everything is better equipped as a result," Malcolm Harrison, a spokesperson for ARLA, said. "Why rent something that is badly set out when you get better next door at the same price?"

"Awful carpets and sofas are a thing of the past. This is good for the market generally, both for landlords and tenants," he added.

ARLA is the only professional, self-regulating body that is solely letting-orientated and provides a range of contact details and advice on the letting mortgages.

To read more about buy-to-let mortgages, click here.

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