The National Landlords Association (NLA) will give evidence on behalf of the property professionals it represents in a Treasury Select Committee investigation into mortgage arrears, it has been revealed.

The current situation has ensured some private landlords have needed to find huge deposits such as products with average loan-to-value around 70 to 75 per cent. This, the NLA, said has been a substantial obstacle for landlords and their businesses.

David Salusbury, chairman of the NLA, said: "We are in no doubt that the lack of availability of mortgage finance is having severe consequences for landlords across the UK."

More than 25 per cent of landlords have claimed they would like to seek finance during the next three months and the "dearth of buy-to-let products is strangling the market", he added.

Chris Horne, editor of Property Hawk website, recently claimed that demand for buy-to-let mortgages has remained high, but landlords have found it difficult to secure the finance.

Written by John Weeks

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