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Buy-to-let is 'a good place to be'
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Julian Skan of global consultancy Accenture has said the buy-to-let sector will remain a viable force in the UK housing market.

He spoke to Channel 4 News after Bradford & Bingley – the UK's biggest buy-to-let lender – suffered a fall in profits for the first four months of the year.

Mr Skan said it would be wrong to compare the buy-to-let market with the recession of the early 1990s because residential property investment back then was "very much smaller".

"The whole concept of buy-to-let is [now] much more embedded in the UK and, of course, if mortgage rates are higher, then one of the effects is that more people will want to rent.

"So there is reason to believe that buy to let is quite a good place to be."

According to the Council of Mortgages Lenders, only 0.9 per cent of buy-to-let landlords are in arrears of three months or more.

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Date Published: 03 June 2008

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