Latest industry research has revealed that over half of landlords are actively looking at ways to expand their portfolio of rented properties in 2013. Despite the fact that three-quarters of landlords surveyed believe that they do not receive enough support from financial lenders, over half of them suggested that they are looking to make a buy-to-let purchase in 2013. Ninety percent of those who aim to invest in property say that they are looking for residential properties that currently produce a gross yield of 6.7% or more. These results are complimented by findings to suggest that two-fifths of property owners are now relying entirely on their rental income as their primary source of income. Richard Durrant, lettings director at Intercounty, has added that “more and more would be buyers are being forced into rented accommodation, which in turn is increasing demand and providing landlords with the opportunity to collect fantastic gross yields and a great source of income.”
If you are thinking about investing in residential property or have a question about the lettings process, why not call into branch and speak to our lettings specialists or arrange a free investment one-to-one with our lettings director or managing director.
Source: Research by mortgage broker Mortgages for Business