26
Jun
Amateur landlords reaping rewards of wise investments
Amateur landlords who invested their money wisely are currently
reaping the rewards, it has been suggested.
When the housing market began to decline last year, pundits widely
predicted that buy-to-let would struggle as overextended owners of
rental flats were overwhelmed by the rise in mortgage repayments,
according to the Times.
However, that has generally not been the case, as the average
amateur landlord is described by the newspaper as fairly wealthy,
with a good amount of equity in their own home and a healthy dose
of wariness about inner-city developments of new apartments.
Having made a strong investment, such landlords have since
benefited from rising rents, which have outweighed increased
mortgage rates in many cases.
"Estate agents now report that landlords who are possessed of some
spare cash are even adding to their portfolios," the Times
wrote.
Buy-to-let lender Paragon recent revealed that rents have gone up
by as much as a third in some parts of the UK.
