New figures show enduring appeal of buy to let investment
A record number of ‘amateur investors’ are remortgaging their main properties to allow them to purchase buy to let flats and houses. Figures from a national estate agency chain show that:
– a record 65% of UK buy to let sales in the past year have been cash purchases;
– this is a third higher than 10 years ago;
– in the south west the percentage is even higher at 72%.
Although letting out a home is more regulated than ever before, increasing the need for professional letting agents to manage properties on behalf of landlords, the popularity of buy to let remains high. An estimated 2.5m landlords now exist in the UK.