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Landlords in the market 'for the long haul'
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A spokesman for London & Country Mortgages has said landlords are in the buy-to-let market for the long-term.

Richard Morea told BBC Radio 4's PM programme that he is confident in the robustness of the buy-to-let market.

The majority of property investors in the UK are experienced landlords and are in it for the long term, he said.

"So our research has shown that the majority of them are at least looking to just consolidate and keep their portfolios where they are, and a few are looking to increase this year as prices fall."

Referring to Bradford & Bingley's profit fall that has been blamed on defaulted buy-to-let payments, he said: "I don't think all their problems have actually stemmed from just buy to let. I think it's probably their lending overall."

Last week, Bradford & Bingley announced a 48 per cent dip in profits during the first four months of 2008.

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Date Published: 04 June 2008

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