UK Rents increase by 13.8 Percent

Posted on June 17th, 2008 | by John Glenn |

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The National Landlords Association (NLA), which represents almost 14,000 landlords, says its NLA Mortgages continue to offer landlords the chance to access mortgage finance and benefit from a guaranteed cashback sum. Landlords are selling up and getting out of the market but according to recent research by the NLA, nothing could be further from the truth, with average UK rents having increased by 13.8 percent in the year.
For first-time buyers who are still struggling to make it onto the property ladder, their only choice is renting. And with the increased demand comes an increase in rent and, for the professional landlord, the current market is providing opportunities to expand portfolios.

NLA believes that, now there is a good time for the professional portfolio landlord, many of whom will be benefiting from increased demand and rising rents. In the current economic conditions it will be important for landlords to keep in close contact with their mortgage broker.

It is also said that that keeping landlords up-to-date with the latest mortgage deals, the guaranteed 0.25 per cent cashback for NLA members should also go some way to helping reduce the costs of obtaining a new loan advance.