Buy to let investors thinking about the long term

11/06/2007

It has been proved that most potential buy to let investors, applying for a buy to let mortgage, are looking to keep their property as a long term investment and keep this asset as a retirement income.

The Association of Residential Landlords concluded that the UK buy-to-let sector is increasing each month and is making new potential investors invest in property simply due to high returns. Through many years buy-to-let investors have always benefited on the long term, Malcolm Harrison ARLA spokesmen spoke further.

He suggested that the average buy to let investor normally is over 35.

"The typical buy-to-letter is fairly cautious," Said Mr Harrison.

"He will look around. He will work out his basic budget: what the property’s going to cost him, what the mortgage is likely to be… his rental valuation and is it going to cover everything. He''ll then invest accordingly."

The Council of Mortgage Lenders stated that there were around 330,000 buy to let mortgages applied for in 2006 leaving a total value of £38.4 billion via mortgages.

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