Three in 10 landlords (31%) say they will look for additional buy to let lending or to re-mortgage in the next three months, yet many may not gain access to finance, according to new findings from the National Landlords Association (NLA).
Over two thirds (67%) of landlords rely on a buy to let mortgage to fund their portfolio, but the findings show that one in five – or approximately 300,000 – landlords have not been able to expand due to difficulties in accessing buy to let finance over the last year.
Furthermore, six in 10 landlords (59%) say that lenders fail to consider their individual circumstances, or that current buy to let lending criteria is too conservative (56%).
Carolyn Uphill, chairman at the NLA, said: “A significant number of landlords are having trouble accessing finance and expanding, which is a major concern because the private sector is vital in meeting the ever increasing demand on housing at the moment.”