Self-Regulation of Buy To Let Mortgages

The Law Commission recently recommended self-regulation for private sector landlords and listed three options for rental property management, voluntary self- regulation, enforces self-regulation and licensing.

The Council of Mortgage Lenders replied stating this would cause concern and possibly be a deterrent to investors in the buy to let market. Evidence points to the fact that the extra regulations already put on landlords are stopping some from investing.

The Council of Mortgage Lenders considers it more worthwhile to have a reform in contractual relationships between landlords and tenants.

The Association of Residents Letting Agency considered it a sensible way to raise management standards by having landlord representative bodies.

The Council of Mortgage Lenders and the Law Commission both agreed that licensing would have an adverse effect and may lead to houses being left empty.

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