Buy-to-let specialist lender, The Mortgage Business (TMB), has become the sixth lender to join the panel of the Association of Residential Letting Agents (ARLA).
Commenting on the decision, Bill Dudgeon, managing director of TMB, said: ‘As the instigator of buy to let, ARLA has been the driving force in this market sector and is recognised as the voice of buy to let among letting agents and investor landlords in the private rented sector. We believe that our five years in the market provides us with a wealth of experience that will help ARLA and the panel to drive buy to let forward.’
John Crossly, chairman of ARLA, hoped the addition of TMB would help reinforce ARLA’s position as the industry wide focus of buy to let. He said: ‘The ability of the panel to provide data from investors, agents and lenders and to explain trends and beliefs to intermediaries and potential investors will be enhanced with the help of TMB.’
Earlier this month, ARLA successfully used its position to voice its concerns over the contents of the draft Bill for Houses in Multiple Occupation. One of the points in the Bill concerned the selective licensing of landlords and their properties. ARLA had raised the point that it should be clear that this form of licensing is designed to address the problem of rogue landlords who contribute to the decline of communities. It is now pressing the Government to cease its plans to extend the geographical area of this scheme away from the core problem areas as this may hinder new investment.