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Good news for landlords

Good news for landlords

There is a lot of Good News For Landlords Around As PRS rents Increase, Tenancies Last Longer And Demand Remains Strong

Good news for landlords as monthly PRS rents have increased by 1.1% year on year to average £845 (GBP) per calendar month (pcm). Scotland has witnessed the greatest rental price increase at 6.7% compared with the first quarter of 2013.

There has also been an increase in the number of older private rented sector tenants according to the latest quarterly index published by Countrywide lettings agency, who noted a 6% annual growth in the number of tenants over the age of 50 renting property in the UK private rented sector (PRS). The lettings agency also report that there has been a 7% annual decline in the number of tenants aged under 25 in the second quarter of 2013.

Buy-To-Let yields are strengthening across the UK, with the average yields being recorded in 3 regions:

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It Pays To Be A Property Owning Pensioner

It Pays To Be A Property Owning Pensioner

Pensioners property worth almost £770 Billion Pounds

It has been revealed by national newspaper, The Telegraph, that Pensioners in the UK own almost £770 Billion (GBP) worth of property outright, without any form of mortgage.

It is estimated that some 4.7 million retired property owners in the UK own their residential properties outright.

The total value of OAP property ownership has increased by £1.2 Billion (GBP) over the past three months, representing almost £770 Billion (GBP) worth of property held outright, without a mortgage.

The survey was conducted in England, Scotland and Wales by advisory firm, Key Retirement Solutions, however, the survey didn’t cover properties in Northern Ireland.

The survey revealed a two-speed property market in the UK, with London seeing a significant rise in over-65s’ property wealth, however, the value of property wealth was much lower in the neighbouring South-East region.

The average value of property owned by pensioners without any form of mortgage increased by almost £12,000 (GBP) in London, but fell by £1,570 (GBP) in the South-East, the survey found.

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New Research Shows Landlords Using Property To Provide For Retirement

Landlords and Buy-To-Let property investors are treating property portfolios as their retirement fund according to new research carried out by BDRC Continental.

Property Investors plan to use Buy-To-Let property as a pension fund

Property Investors plan to use Buy-To-Let property as a pension fund

The research showed

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Are You Really Too Old To Become A Landlord?

Are You Really Too Old To Become A Landlord?

There are scores of the current generation who are already facing the nightmare that is an under-funded retirement.

It may appear unfortunate, but more and more people over the age of 60 are beginning to realise that it’s not too late to do something!

It must be extremely scary to reach the end of your working life, only to discover that your pension is massively underfunded.

When it happens to retiree’s, almost the same story comes out every time, “I had a property in the 80s, if only I’d kept it, and bought another”.

Nowadays – 60 is the new 40!

People still have time to build a decent rental property portfolio, and they can guarantee their rental income from the property by utilising Rent Guarantee Insurance products, providing a regular and healthy income stream, but there isn’t time to wait.

In many cases, mainstream mortgage lenders are happy to lend on PRS Buy-To-Let properties up until an applicant’s 75th birthday.

At aged 60 you still have 20 good years left to provide for a happy retirement, especially with the leaps and bounds of medical advances.

Twenty years could see a great deal of capital growth and a substantial amount of rental income. Twenty years provides the opportunity for a whole lot of living to be done.

And if you’re under 60 and reading this: Why wait until you’re 60 to learn the lesson? Get into property investment now and get started providing for your retirement.

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