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Rental demand rises in North and Central regions

Sequence has seen the number of people looking to rent in its Northern and Eastern and Central regions increase by 22% and 31% respectively.

Nationally, Sequence observed a 37% uplift in the number of people seeking properties to rent, and the upward trend continues into 2011 – with February’s figures approximately 8% higher than the same period last year.

To help cater for the burgeoning demand, Skipton has this week re-entered the buy-to-let market with a range of new 2 and 3-year fixed rate buy-to-let mortgages with interest rates from 4.45%.

Having temporarily ceased buy-to-let lending in 2009, the Society believes the time is now ripe to re-enter this market in a prudent way.

Stephen Nation, Divisional Managing Director for Sequence Lettings, said: "With the number of UK households increasing and continued uncertainty over jobs and the economy, we have seen a trend of people renting for longer.

"This unprecedented demand, along with increasing yields, make now a great time for investors to expand their portfolios."

Sequence’s observations chime with general market indications that the landlord sector is experiencing a resurgence.

Kris Brewster, Skipton’s Head of Products, said: "This is just the latest example of how, as a mutual, we are doing our bit to provide product solutions which help fulfil people’s evolving homeownership aspirations.

"We believe the buy-to-let sector is a key component of a successful housing market, with private landlords meeting a real social need and providing a vital first stepping stone towards homeownership for tomorrow’s first time buyers – who are the oil which keeps the housing market machine moving."

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