Thinking of becoming a landlord?

One in ten UK adults are interested in becoming landlords and taking out a buy-to-let mortgage in 2019/20, according to a recent survey. A change in income was the main reason people were considering taking their first foray into the world of buy-to-let investment research found. Nearly a third of those considering becoming landlords said they were “encouraged” by current opportunities in the buy-to-let market. Meanwhile over 25% admitted they were going down this route because they had received an inheritance or had become “accidental landlords”.

Above are just some of the reasons why people are considering a buy-to-let investment. If you are thinking of entering this market you should always seek advice on the types of mortgages available that best suit your needs. You will generally need a deposit of at least 25% this varies from lender to lender but the bigger the deposit the better the deal.

The buy-to-let sector has taken a bit of a hammering in recent years, what with the stamp duty surcharge and scrapping of tax relief, the latter of which came into effect at the start of the new tax year, April 2017. However, this doesn't seem to have put off landlords to any extent. Experienced landlords still have an average of 11 properties each, with a typical loan-to-value (LTV) of just 35%, so it's clear that buy-to-let can still generate a good profit.

If you are looking for a new or re-mortgage, please do make contact and one of our fully qualified independent advisers will be happy to help.