Buy To Let Landlords Making Their Living From Letting
Buy To Let Landlords Survey
BDRC Continental's independent landlords panel survey revealed some interesting statistics about their views on the buy to let market at the moment and how they believe it will perform in the next twelve months.
According to the survey 37% of private landlords make their living from letting and of the landlords surveyed, 72% of those owning twenty or more properties earned their living from letting out their properties.
The survey questioned landlords on how many properties they owned, if they had buy to let loans or owned their portfolios outright, what they thought about tenant demand and the buy to let industry in general.
Mark Long, director for BDRC Continental said "According to our research it is clearly possible to make a full time, profitable living from private letting and certainly those with larger property portfolios are more likely to be able to do so. Buy to Let mortgage borrowing remains important for the majority of private landlords and our research suggests that there is still room in the market for providers to listen to their customers and provide a product suite better suited to their needs"
What is the Future for the Buy to Let Market?
The survey revealed that more than one in four private landlords own their property outright with 28% reporting that they do not owe anything on their portfolio.
Of the landlords which do not fully own their portfolio, the average number of buy to let loans held is 7.7. 89% of the landlords who have buy to let mortgages believe that the market would benefit from more competition and more providers.
National Landlords Association Chairman David Salusbury said "Early signs of increasing property acquisition suggest that landlords are feeling more confident about future prospects of the market. The private rented sector is playing an increasingly important role in the provision of housing. Buy to let products must be sustainable, with consideration for the longer term, if the private rented sector is to rise to this challenge".
