|
Prospective landlords are planning to take a more hands-on approach to their investments, reveals a new survey by Birmingham Midshires…
According to the survey, around 54% of people aiming to get a buy-to-let property said they would manage it themselves, rather than pay an agent to do it. 88% admitted they would often drive past their property to check how well the tenants were keeping it.
More than a third of landlords also indicated that they would fix problems and carry out maintenance themselves, rather than pay a professional to do it. In the credit conscious times we live in, these apparent cost-cutting measure come as no real surprise.
BTL still a ‘sound investment’
The property investment market has increased exponentially over the last decade. Booming house price inflation and dampening stock market returns have encouraged people to put their cash into property, which is still seen as a more solid and safe investment.
At the end of last year there were nearly one million buy-to-let loans in existence, collectively worth £116bn, and accounting for one in 10 of all outstanding mortgages.
Tim Hague, managing director of mortgages at Birmingham Midshires, said: "With landlords enjoying an average return of 16.3% in 2007, a buy-to-let remains a sound long-term investment. We expect firm demand to continue throughout 2008 and beyond."
|
Get
this news on your website !
Sponsored listings: