More to let, please

3 March 2008 By Ian Campbell

Buytolet investors are riding out the UK property storm. There s a chronic shortage of rental housing which developers would like to address. Right now the government tries to require affordable housing for buyers. Supporting rental development might be a better way.

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The Council of Mortgage Lenders (CML) said total buytolet lending rose from £20.8 billion in the second half of 2006 to £24.1 billion in the final six months of 2007. In the first six months of 2007, total loans granted to landlords reached £21.2 million.

The British Property Federation and the Greater London Authority issued a report Friday calling for a professional rented sector offering branded rented accommodation including decent family homes and longterm tenancies, all professionally managed like an office block.

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