“Rental prices have remained at steady levels since January 2018, showing a modest rise this month but staying unchanged over the past 12 months.
“Buy-to-let lenders have consistently drawn attention to the dramatic drop in new investment in rental property and warned that this will eventually work its way through to higher rents for tenants. We have also warned that the full effects of the regulatory layering imposed by the Government have yet to be fully realised, with another key milestone still to be reached in January when landlord’s tax bills will be due.
“That is why we have been urging the Government not to take further action before the initial regulatory changes bed in and their consequences can be properly assessed. It will be very disappointing if further announcements are made in the Autumn Budget which lead to further pressure on the buy-to-let sector, which makes up an essential part of the housing market and provides support for millions of tenants across the UK.”
Notes to Editors
The Intermediary Mortgage Lenders Association (IMLA) is the trade association that represents mortgage lenders who lend to UK consumers and businesses via the broker channel. Its membership unites 43 banks, building societies and specialist lenders, including 16 of the top 20 UK mortgage lenders responsible for more than £180 billion of annual lending.
IMLA provides a unique, democratic forum where intermediary lenders can work together with industry, regulators and government on initiatives to support a stable and inclusive mortgage market. Originally founded in 1988, IMLA has close working relationships with key stakeholders including the Association of Mortgage Intermediaries (AMI), UK Finance and the Financial Conduct Authority (FCA).