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.
26 July 2016
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.