Friday, 28 July 2017

Landlords look to expand property portfolios

MORE than half the country’s landlords want to buy more properties over the next few months, a new survey shows.

Mortgages for Business said 60 per cent of landlords plan to increase their property portfolios over the next six months, suggesting that the rest of the year will see further expansion for Britain’s buy-to-let market.

A total of 45 per cent are considering a remortgage.

The research also established that landlords favour five-year fixed deals with 95 per cent having borrowed on the properties they already own.

The broker’s managing director, David Whittaker, said landlords seemed to be taking advantage of the low buy-to-let mortgage rates by seeking to build up portfolios containing a variety of property types.

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