AN MP says measures must be put in place to prevent ‘amateur landlords’ owning too many properties in the area.

Hyndburn MP Graham Jones says recent figures show four out of ten rented properties were purchased on buy-to-let mortgages, raising concerns about homes being left empty.

Figures from the Residential Landlords Association caused the MP to raise the matter in the House of Commons.

He said: “This trend is predominantly due to amateur and long distance landlords leveraging debt against the property and a much higher cost than normal or commercial credit, the cost of that and of cottage industry and cowboy procurement being borne by the tenant.

“According research, buy-to-let mortgages are also raising house prices and one study shows they have added 6 per cent to the cost of all housing.”