According to recent research conducted by a large landlord mortgage lender in the UK, the average buy to let landlord fits a particular profile. So if you fit this profile, you are the average landlord!
An Average Buy to Let Landlord
• Earns just under £60k per year, which is double the average salary
• Has a property portfolio of around nine homes, which are worth £1.2 million
• Relies on buy to let mortgages to fund his property investment businesses (66% of respondents had mortgages in place)
• Enjoys an average return of 6.2% – 6.7%
• Is positive about the future of the buy to let market
Phil Rickard, the head of BM Solutions, the mortgage company that commissioned the survey of buy to let landlords, said: “It’s easy to see why people are attracted to the buy-to-let market; it offers a tangible investment which can provide the long-term returns that some other assets won’t.
“For those people considering the opportunities that this market presents it is however important to understand the financial and legal commitments being a landlord brings and to ensure that you undertake the right level of research and due diligence to increase your chances of success.”
Buy to Let Landlord Surveys
Another recent survey revealed that landlords are more likely to invest in buy to let properties in their own neighbourhood, which indicates that landlords are keen to invest in their local communities. Landlords also look at other key features, including the current housing market, whether the area is served by public transport, and what tenant demand is like, all of which are crucial factors when you are running a property rental business.
