60% of landlords planning to expand portfolio in next 6 months
60% of landlords are planning to increase their property portfolios over the next six months, according to specialist mortgage broker Mortgages for Business.
84% of investors looking to expand said they are planning to purchase more houses and flats (vanilla buy to let) by the end of the year, thereby increasing the supply of rental properties to help cater for demand which continues to outstrip supply.
Encouragingly, only 3% of investors are planning to reduce their portfolios over the next six months, down from 6% last quarter.
David Whittaker, managing director at Mortgages for Business, explained: “Landlord appetite for buying residential property is high. This will support the private rented sector and ease the strain on would be renters chasing too few properties.”
The research, which polled the views of 159 investors, showed complex buy to let property is becoming increasingly popular probably due to the more attractive yields compared to vanilla buy to let properties. 25% of respondents said that they were considering purchasing either HMOs, multi-units or semi-commercial property (or a combination of the three).
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