Buy-to-let market 'still strong'

The UK''s buy-to-let market is "still strong" despite the withdrawal of some mortgage products, according to a specialist broker.

According to the Business Mortgage Company, the key factors that drive the sector are in a good position as there are high levels of tenant demand as some people hold back on buying a property.

The company''s spokesperson went on to explain that 2008 could provide landlords with "great opportunities" to expand their portfolios.

She explained: "The current slow down in the housing market may enable landlords to drive genuine discounts off the true market value of properties and snap up some bargains."

However, the spokesperson warned that mortgage lenders are being more selective over whom they give money to, while the amount of product choice has also fallen.

According to a report in the Financial Times earlier this month, prospective landlords now need to offer a deposit of at least 15 per cent as lenders reduce the number of mortgages available to them.

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