11
Feb
Importance of private rented sector 'being recognised'
The government has started to recognise the importance of the
private rented sector, it has been claimed.
According to the Association of Residential Lettings Agents (ARLA),
Westminster now understands that buy-to-let landlords are vital to
the housing industry in the UK.
It noted that the announcements relating to new regulation and
legislation have all demonstrated the government's commitment to
finding a long-term solution to the housing problem through the
private rented sector.
Ian Potter, operations manager at ARLA, urged politicians to help
the industry recover quickly.
"Unless the government frees up further buy-to-let lending for
responsible landlords who recognise the importance of investment in
residential property, then the UK is going to struggle to house
future generations," he warned.
Figures released by the Council of Mortgage Lenders revealed that
buy-to-let lending activity increased in the final quarter of 2009,
compared with the previous three months.
It also noted that the number of buy-to-let properties taken into
possession in the timeframe fell by 25 per cent, in comparison to
the third quarter of 2009.