Bridging
Video: More developers and landlords holding on to buy-to-let assets – West One Loans
Developers and landlords are holding onto more of their buy-to-let property assets than they were a year ago, West One Loans has said.
Appearing on Specialist Lending Solutions Television, Andrew Ferguson, managing director – buy-to-let, at West One Loans, said when it came to bridging loans, there was “a growing demand from developers and landlords looking to exit rather than necessarily sell units.
“They’re looking to hold some units themselves.”
When they do sell, developers were disposing of fewer properties than initially intended. Instead, they opt to grow their buy-to-let rental portfolio and stay in the sector, Ferguson added.
He said this was a trend the lender had noticed over the last 12 months.
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Watch the third part of the video series [6:56] below, hosted by editor of Mortgage Solutions, Victoria Hartley.