Mortgage Brokers Remain Optimistic about Buy to Let in 2012

06 March 2012 Categories: News

Mortgage Brokers Remain Optimistic about Buy to Let in 2012

A recent survey conducted by the Intermediary Mortgage Lenders Association asked 230 mortgage brokers about their thoughts for the industry in 2012. Surprisingly the majority of the respondents said they felt most positive about the buy to let sector, with 56% predicting an increase in the number of buy to let mortgages being approved during 2012.

47% of the respondents went on to say they expected the number of remortgages to increase and 34% saw an increase in next-time buyer mortgages on the horizon.

The positive outlook with regards to buy to let went even further though with a staggering 81% saying they could see 2012 being equally as big, or bigger, than 2011 was for the market. Only 12% of those interviewed predicted a decline in the buy to let market during the coming year.

These figures are very promising and it’s understandable why the number of new landlords entering the private rental sector is at the highest level for recent years. IMLA Chairman, Mr John Heron, said about the results of the survey “Buy-to-let is becoming increasingly important as more people move into the private rented sector, but whilst we are seeing growth in the mortgage market, it is a gradual process”.