Investments in the buy-to-let market in Northern Ireland and the rest of the UK are going to make a loss this year, according to nearly a third of Brits who believe the economic climate will hamper their performance.

Research from professional advice website Unbiased.co.uk has found that consumer confidence is declining with falling lending in this sector and 28 per cent of consumers are pessimistic about the sector.

Investors in the sector are not only suffering from oversupply as reluctant landlords put their properties on the market, but the value of equity or profit in buy-to-let properties has fallen too.

This underscores the need for anyone thinking of entering the sector to seek professional advice first before making a move, according to David Elms, the chief executive of Unbiased.co.uk.

He said: "If you are considering becoming a buy to let landlord, or if you are struggling with existing mortgage repayments, we urge you to speak to a whole of market mortgage adviser for the best possible advice on your situation."

Data from the Bank of England recently showed that mortgage approvals for house purchases rose in May to 43,000.

Christine Farrell, head of the residential conveyance department at Wilson Nesbitt Solicitors commented that "landlords with vacant properties to let need to research the market and re-evaluate rental prices as a wealth of options for tenants means that rental incomes have reduced".

sHE ADDED: "Those considering letting properties they have been unable to sell should take legal advice to protect themselves before entering into any agreement with a tenant, and to make sure they are aware of all the regulations that a landlord must fulfill."
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