14 Jan

Landlords primarily 'enthusiastic amateurs'

Landlords primarily 'enthusiastic amateurs'

Just one in 25 (four per cent) landlords in the UK currently view themselves as full-time professionals, with 87 per cent claiming that renting properties is a "profitable pastime".

Figures from Alliance & Leicester Mortgages indicate that most landlords are amateurs who are investing in property with long-term goals such as funding their retirement or paying university fees for their children in mind.

Over half of the landlords polled for the survey (57 per cent) stated that they invest in buy-to-let property in order to store up assets in the future, with 31 per cent of landlords aged over 55.

The latest Alliance & Leicester Mortgages Landlord Index claims that 11 per cent of landlords earn half or more of their average monthly income from buy-to-let properties and almost two thirds (64 per cent) plan to continue in the property rental market.

Stephen Leonard, director of mortgages at Alliance & Leicester, commented: "It is encouraging to see landlords taking a measured, long-term approach to their buy-to-let investments."

Just 21 per cent of landlords are in the buy-to-let property market for the short term, with the average period that landlords plan to let property standing at around 18 years. According to the research, women tend to take a more long-term attitude to property rental than men.


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