UK Money News
30th November 2007
Rental incomes 'on the rise'
The average rental income enjoyed by landlords has reached a record high, new research suggests.
Anyone interested in buy-to-let as a route to gaining help with money may be interested in the latest figures from Paragon Mortgages, which demonstrate strong rents during October.
The sum now stands at £11,066 per month - more than ten per cent higher than at the same time last year, the personal finance provider suggests.
Meanwhile, rental yields have continued to remain steady at six per cent and total annual returns on a property bought a year ago stand at 15.5 per cent.
John Heron, Paragon’s director of mortgages, says: "There is solid and growing demand for decent, affordable rented homes in all parts of the country, but it is essential landlords purchase the type of property that meets tenants' needs and expectations."
He added that recent finance news suggesting poor returns in the buy-to-let market had confused genuine sector investment with property speculation.
In recent money news, Paragon Mortgages urged landlords to ensure they are signed up to a government-approved tenancy deposit protection scheme.
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