The UK buy-to-let market will continue to do well in 2008 even though the global credit crunch looks set to rumble on.

According to The Business Mortgage Company (TBMC), increased tenant demand will help to keep the market buoyant.

In fact, the credit crunch could be a blessing for buy-to-let investors as more and more potential first-time buyers are forced out of the housing market and into rented accommodation instead.

"The key factors driving the buy-to-let market are still strong. There are rising levels of tenant demand as people wait to see what happens in the housing market before purchasing," said a spokesperson for TBM.

She went on to point out that landlords could also use the opportunity to expand their portfolios.

"Rents are rising as a result and this year could present some great opportunities for landlords looking to expand their portfolios - the current slow down in the housing market may enable landlords to drive genuine discounts off the true market value of properties and snap up some bargains," added the spokesperson.