Professional landlords 'set to prosper'

News Category: Industry News

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Professional landlords have been given a vote of confidence by mortgage brokers that they can prosper in the current housing market.

According to research by the Mortgage Works, just under half of intermediaries (49 per cent) believe professional landlords will add to their property portfolios this year.

This is an increase of five per cent compared to six months ago.

A further 45 per cent of respondents expect professional landlords will be able to maintain their current portfolios of residential lettings.

Andy McQueen, managing director of the Mortgage Works, indicated that the research highlights that professional landlords have a better understanding of the market than amateurs.

He said: "True professional landlords understand the property market, the needs of their target customers and the tax and financial implications of running a buy to let business.

"They are also more focused on building high yielding businesses, as opposed to seeking short-term capital appreciation, and so are excellently placed to not only withstand, but prosper during, the current market."

Those polled were far less confident about the success of amateur landlords, with 82 per cent of the belief that they are unlikely to add to their portfolios this year.

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