25 Feb

Buy-to-let property owners 'will see strong rental demand'

Buy-to-let property owners 'will see strong rental demand'

Owners of buy-to-let properties in the UK will see strong demand among people looking to rent, an expert has said.

Commenting on the issue, Alan Ward, chairman of the Residential Landlords Association, said the number of individuals seeking to inhabit such homes will remain strong for the foreseeable future.

His remarks were made in the wake of the release of figures by Communities and Local Government, which showed that the number of households renting privately has risen by around one million since 2001, from 2.1 million to 3.1 million.

Mr Ward stated: "Some [people] are making a lifestyle choice and renting rather than paying for a more expensive mortgage."

He went on to point out that around £650 would be required to meet the interest payments on a home loan worth £160,000 and this would rise to around £1,000 a month for those making repayments.

This sum would pay for a reasonably sized rental property outside of London, he noted.

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