Landlords and the FSA is it a good idea
There has been a crucial debate amongst landlords recently because of the current state of the let property market. The debate was sparked because of the recent decline in the amount of let property available during the past 18 months. nother factor is lenders are asking for very high deposit on all mortgages making it difficult for landlords to invest. The debate consists of landlords arguing whether lenders should be regulated by the Financial Services Authority.
A survey conducted by LSL Property Services revealed that those landlords new to the sector would like to see the market regulated whereas those with more than 7 years of experience feel that is would hinder the situation.
In total 60% of landlords would like to see an intervention by the FSA in the same way the residential market is currently monitored. The main objection LSL found was that the majority of landlords with 7 or more years of experience feel that the regulation would reduce the already limited number of loans available to them.
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March 10th 2010