26 Jun

Amateur landlords reaping rewards of wise investments

Amateur landlords reaping rewards of wise investments

Amateur landlords who invested their money wisely are currently reaping the rewards, it has been suggested.

When the housing market began to decline last year, pundits widely predicted that buy-to-let would struggle as overextended owners of rental flats were overwhelmed by the rise in mortgage repayments, according to the Times.

However, that has generally not been the case, as the average amateur landlord is described by the newspaper as fairly wealthy, with a good amount of equity in their own home and a healthy dose of wariness about inner-city developments of new apartments.

Having made a strong investment, such landlords have since benefited from rising rents, which have outweighed increased mortgage rates in many cases.

"Estate agents now report that landlords who are possessed of some spare cash are even adding to their portfolios," the Times wrote.

Buy-to-let lender Paragon recent revealed that rents have gone up by as much as a third in some parts of the UK.

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