Long-term planning important to landlords
Published: 20-Jun-2007
More and more people are becoming landlords because they believe property represents a sound long-term investment option, a new report suggests.
Research from Birmingham Midshires found that 46 per cent of landlords had already been involved with property lettings for between two and five years.
Indeed, 21 per cent of landlords said that they planned to buy more property in the future as part of a long-term investment strategy.
The study also found that most landlords (32 per cent) were aged between 55 and 64 and that many hoped their portfolio of property would help them pay for their retirement.
"The buy-to-let sector has fast become a solid and established market in recent years, and these figures show that people investing are taking a long term approach," explained Iain Williamson, head of key accounts at the lender.
Recently, Malcolm Harrison, spokesperson for ARLA, said that most major landlords are "mature financial people," who are "fairly cautious" with their investments.
