A reduction in stock levels means that demand continues to outstrip supply, Propertymark said.
There were around 10 new prospective rental tenants registered for each available property in February, according to a property professionals’ body.
“However, stock levels have also decreased and overall, demand continues to outpace supply, in fact, there were around 10 new applicants registered in February for each available property. As 2023 drew to a close, there were 13,570 buy-to-let mortgages in arrears greater than 2.5% of the outstanding balance – 123.9% higher than in the same quarter a year previously.
The blog, jointly written by Ermir Selmani, analyst, data and research at UK Finance and Ronnell Reffell, manager, mortgages policy at UK Finance, continued: “Just 0.68% of all BTL mortgages are in arrears – this is lower than in the residential sector, as it has been for many years.
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