Tough market conditions mean that mortgage lenders are still being very selective over who they lend to, an expert has highlighted.
Lee Grandin, managing director of Landlord Mortgages, explained that lending is often easier to secure if financial worthiness can be proved.
"The market has remained very subdued by historic standards and we do not envisage a significant [change] until the end of 2012," he commented.
This will mean that there is a lack of supply of rental properties, while the asking prices for available accommodation are likely to rise.
Latest statistics from the Council of Mortgage Lenders (CML) show that in October, mortgage lending increased by 13 per cent compared to the same period of 2010.
Throughout the month, lending totalled approximately £13.1 billion, which was a four per cent decline in figures from September.
CML chief economist Bob Pannell explained that the market may be shaken up now the government has unveiled its new housing strategy.
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