Buy-to-let property investors upbeat
The nation's buy-to-let landlords are set to start investing in new property again, new figures reveals.
According to Bradford & Bingley's survey of UK landlords, five out of six buy-to-let investors are planning to increase or maintain their property portfolios in the next six months.
More than four in five (85 per cent) say rent is high or higher than at the same time last year and there has been a seven per cent fall in the number of landlords reporting rent arrears compared with three months ago, Bradford & Bingley reports.
"Our research findings are clear, the buy-to-let market remains buoyant with high levels of confidence from landlords and sufficient demand from tenants to support this," said Andrew Moss, Bradford & Bingley's buy-to-let product manager.
He added: "Buy-to-let ranks high in the popularity stakes for investors.
"Landlords are benefiting from the continuing rise in property prices and rents mostly staying the same or increasing. 83 per cent of landlords told us that they are planning to maintain or increase their portfolios.
"The outlook for tenants is positive too as confident landlords are investing in their properties. One quarter of landlords spent between £1,000 and £3,000 refurbishing the last property they bought and 17 per cent spent between £3,000 and £5,000."
When asked why they were investing in property, nearly half of landlords said their main reason is capital growth.
Some 28 per cent of buy-to-let investors are buying in 'up and coming' areas to grow their capital, while 28 per cent look to add value by developing their property.
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