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Majority of landlords upbeat over buy-to-let sector
15th May 2012
The vast majority of UK landlords remain upbeat over the future of the buy-to-let market, according to a new survey.
A poll by specialist lender CHL Mortgages found that 71 per cent of landlords are positive about the prospects for the buy-to-let market - up four per cent on a year ago.
Just five per cent of respondents said they felt negative about the rental market's prospects.
The majority of landlords are also happy with the size of their portfolio, with 59 per cent planning to maintain the number of properties they own this year.
However, almost one-third (31 per cent) plan to invest in additional properties over the coming 12 months.
The survey shows that the majority of landlords are "still regarding the private rental sector as a safe place for their investment", said Bob Young, managing director at CHL Mortgages.
"Just under a third of current landlords intend to supplement their existing portfolios with further property acquisitions and this figure is likely to be complemented by new entrants and the usual smattering of accidental landlords, meaning the buy-to-let market is likely to remain in good health for the foreseeable future," he added.
Those purchasing new properties should make sure they adequately protect their investments by taking out landlord buildings insurance.
The peace of mind of knowing your assets are insured against the cost of damage could be particularly important in a time of economic uncertainty.
Despite overall positivity among landlords, 28 per cent are concerned over the impact possible Bank of England and lenders' own interest rate increases could have on their portfolio.
"All in all, the buy-to-let market is a positive place to be at present and while landlords are not immune to wider economic uncertainty, they are confident in existing and future tenant demand," added Mr Young.
Posted by Simon Hayes