Julian Knight – 2016 Parliamentary Question to the Department for Communities and Local Government

The below Parliamentary question was asked by Julian Knight on 2016-07-19.

To ask the Secretary of State for Communities and Local Government, what further steps he plans to take to encourage buy-to-let mortgage lenders to allow longer tenancies.

Gavin Barwell

My Department has worked closely with the Council of Mortgage Lenders (CML) to encourage longer term tenancies in properties with a buy to let mortgage, including during the development of our Model Tenancy Agreement (MTA). The MTA enables longer tenancies, and addresses lender concerns by including appropriate break clauses. The CML estimates that the majority of buy to let mortgage lenders now permit tenancies of up to two to three years. We continue to encourage lenders to actively promote the use of the MTA to their landlord customers.