Newspaper article Manchester Evening News

UK Buy to Let Landlords Increasingly See Their Properties as Their Pension

Newspaper article Manchester Evening News

UK Buy to Let Landlords Increasingly See Their Properties as Their Pension

Article excerpt

THE new pension freedoms that came into force last month in the UK could trigger a huge interest in over 55s becoming landlords for the first time, it is claimed.

Research by Property Let By Us, an online letting agent, shows that for 70 per cent of younger landlords, their buy to let portfolio is their only pension fund.

The study also shows that just one in five landlords said their property portfolio forms part of their pension provision. A further third of landlords are building their portfolios so that their children can benefit from the investment in the future.

Over a third of landlords said their mortgages will be paid off by the time they retire and just 6 per cent claim they will sell their properties on their retirement.

What's more, 28 per cent of landlords plan to expand their property portfolios in 2015 and over a third of landlords use a letting agent to help manage their properties. "With mortgage rates at an all-time low and rents rising across the UK, it is no surprise that more and more investors are entering the buy to let market. …

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