UK Money News
14th January 2008
Buy-to-let 'is a profitable pastime'
As many as nine out of ten (87 per cent) landlords consider managing their portfolio to be a "profitable pastime" rather than a full-time career, it has been claimed.
According to new research from personal finance provider Alliance & Leicester, only four per cent state that they consider the role to be their job.
Other findings from the company include the fact that nearly six in ten (57 per cent) enter the market to provide help with money for retirement or to build up assets.
Meanwhile, one in ten say that they earn more than half their monthly income from their properties.
Stephen Leonard, director of mortgages at Alliance & Leicester, says: "Whether it is to provide a pension for retirement, or a monthly income, landlords' ambitions suggest buy-to-let will remain an important part of the overall UK housing market."
In recent weeks, the National Landlords Association has welcomed news that the government intends to conduct a review of the private rented sector to ensure high standards and affordability are maintained.
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