IMLA opposes buy-to-let regulation

Mortgage lenders and landlords will continue to fight EU plans to introduce regulation into the buy-to-let market, it has been warned.

The message from the Intermediary Mortgage Lenders Association (IMLA) comes after Association of Mortgage Intermediaries director Robert Sinclair suggested that regulation is inevitable and the fight to block such legislation had been given up.

The organisation, which represents lenders who market their products through brokers, said that, along with landlord bodies, it opposes EU plans to include buy to let mortgages in the European Mortgage Directive.

IMLA chairman John heron said: "It is certainly not a forgone conclusion that buy-to-let will become a regulated product under the European Mortgage Directive, and it remains IMLA's belief that buy to let should sit outside of the Directive.

Source: Assetz.co.uk

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