Research from Standard Life Bank has found that 70% of professional landlords have teamed with spouses, partners and children to invest in bricks and mortar to secure their financial future .
This trend is occurring across the UK, with Londoners the most likely to team with a spouse, 58% and Northerners most prone to work alongside children or other family members. 12%.
According to further research into UK landlords, nearly a quarter of landlords admit to becoming property investors “by chance”, through an inheritance windfall. However, while many landlords enter the market by luck, others take a more long-term view with a third looking to secure their financial future through property investment and almost a quarter looking to build a sustainable and profitable business .
The Standard Life Bank research of more than 750 landlords revealed that property investment appeals to all age groups; particularly thirtysomethings.
Traditionally people in their 30s would start nest building, but now almost a third are building other people’s nests .
More than two thirds of landlords use their rental income as their main source of earnings or plan to in the future showing that the monetary rewards for landlords can be substantial.
Across the UK older property investors are also using rental returns to put towards their retirement, with a quarter of landlords being over 50 when they first started letting .
Although 40% of landlords felt that their venture into property investment had been a better experience than expected, 7% claimed it had been worse , and a quarter admitted that it had been more challenging than they had anticipated .
Scottish landlords enjoyed their buy-to-let journey the most, with more than half (54 per cent) finding the experience better than expected , while Investors in the Midlands and Wales had the bumpiest ride, with a fifth saying there had been more highs and lows than they had anticipated .