Lack of mortgage availability ''may increase rent demand''
Date posted: 20 Jan 2010
A number of first-time buyers may be forced to turn to the rental market in the near future if there are no mortgages available to them, an expert from Savills has suggested.
According to the firm''s director of residential research Lucian Cook, demand for rental properties may well continue in the longer term.
He commented: "People will not be able to access the mortgage market, then won''t be able to access home ownership - confining them to the rental market for longer."
A number of first-time buyers may be forced to turn to the rental market in the near future if there are no mortgages available to them, an expert from Savills has suggested.
According to the firm''s director of residential research Lucian Cook, demand for rental properties may well continue in the longer term.
He commented: "People will not be able to access the mortgage market, then won''t be able to access home ownership - confining them to the rental market for longer."
Mr Cook also highlighted the need for a less restrictive mortgage market to be developed, in order to allow house prices in the country to grow at a sustainable rate.
Loan to value mortgages at 90 per cent may be required, he noted.
Within the rental property sector, the Residential Landlords Association''s chairman Alan Ward has recently suggested that some landlords may be facing harassment due to regulations. 
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