View more on these topics

Nearly half of all UK landlords are “pension pot” landlords: Your Move

Nearly half of landlords in the UK are “pension pot” landlords, according to a landlord survey by Your Move.

The estate agent defines “pension pot” landlords as those who are over the age of 45 and view their portfolio as a long-term retirement investment.

More than four in 10 landlords class themselves as “pension pot” landlords, with nearly a quarter (23 per cent) of this group, having been a landlord for 15 years or more.

“Accidental” landlords – those who were not expecting to be landlords – were the second most common type of landlord (29 per cent), followed closely by “professional” landlords (20 per cent).

The survey also found that accidental landlords are most likely to be female and under the age of 45, often thrust into the market through inheritance or other changes in their personal circumstances. Professional landlords tend to be male, over 45-years-old, and consider being a landlord as a job or career.

The findings also showed pension pot landlords are more likely to live close to their rental properties than either accidental or professional landlords, with 41 per cent living within one to five miles of the property.

Nearly three in 10 (29 per cent) pension pot landlords see their properties as a business, with more than half (53 per cent) investing in more than one property. Your Move found these landlords are more likely than the other groups to build a personal rapport with tenants and want tenants who will protect their investment.

Your Move national lettings director Martyn Alderton says: “Our research suggests that  the private rental sector is still seen to offer significant opportunities, providing many landlords with a source of income and funding into retirement.

“It’s also clear that pension pot landlords are keen to build a personal rapport with tenants who will look after their investment. As an industry, it’s increasingly important that we continue to support these ties, providing long-term benefits to tenants looking for a property to call their home and also for landlords looking for ways to fund their retirement.”

Recommended

Network UK map

A third of England and Wales owned by corporates: Search Acumen

Land ownership by corporate and commercial entities equates to 3,106 square metres for every household in England and Wales, according to analysis by Search Acumen. The property data and technology provider calculated that the land owned by corporates equates to three five-a-side football pitches or 12 tennis courts for every household across England and Wales. […]

Landlords on SVRs could halve mortgage payments: Property Master

Landlords on standard variable rate mortgages could potentially halve their monthly payments by switching to a fixed rate mortgage, according to Property Master. Property Master’s Mortgage Tracker finds the monthly cost of an average buy-to-let standard variable rate mortgage for a £150,000 home loan rose from £620 in September to £629 in October. This follows […]

Bank-of-England-BoE-Building-Horse-700x450.jpg

Appetite for remortgaging expected to grow: Bank of England

Demand for remortgage finance increased significantly over the past three months and lenders expect this trend to continue in the next quarter, according to the Bank of England’s quarterly credit conditions survey. However, many borrowers might find it harder to find a home loan as the survey also found that mortgage availability to households fell […]

Magellan

Magellan Homeloans enters Help to Buy

Magellan Homeloans has announced its entry into the Help to Buy sector, with the Government-backed scheme now available across the entire Magellan residential mortgage product range. The specialist lender says it is expert in understanding the needs of borrowers with complex income structures including self-employed applicants with just one year’s accounts, first-time buyers with no […]

Thumbnail

Under the radar – Fit for Work and sickness absence

Earlier this month we sat in on a presentation delivered by the Fit for Work service, and this session did highlight one small but important change to the offering that we must admit had slipped under our radar. The Sickness Absence Review published in 2010 suggested that the Independent Assessment Service (now branded Fit for Work) should have three access points; referral by […]

Newsletter

News and expert analysis straight to your inbox

Sign up