Government forcing landlords to house non-paying tenants for lengthy periods11:18 AM, 15th September 2020
About 6 days ago 39
According to the latest Landlords Panel research by BDRC Continental, one in four buy to let landlords own their property portfolio outright, while a third have a mixed portfolio.
The survey of NLA members showed something of a polarised investor community though. The investors who rely on buy to let mortgages believe the industry needs more competition, with only one in ten disagreeing. Many (60%) believe the buy to let lenders don’t take into account individual circumstances when it comes to mortgages and 39% believe the products available have little variety.
Despite this, over a third of landlords (37%) manage to live off their buy to let portfolio, although one in ten landlords with just the one property. As you would expect, the percentage of landlords making a living off their lettings increased alongside the portfolio size, culminating in three quarters of landlords with 20+ properties earning a profitable full-time living from letting.
Mark Long, Director for BDRC Continental commented on the latest Landlords Panel findings, saying: “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. BTL 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.”
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