Buy-to-let landlords 'to dominate housing market'
The buy-to-let property market will grow by 41 per cent over the next ten years, housing experts have claimed.According to Alliance & Leicester bank, more positive attitudes towards renting will lead to buy-to-let properties' popularity soaring by 2016.The claim is based upon research conducted in partnership with the Centre of Future Studies thinktank that predicts the traditional rental market will grow in line with the number of full-time students and singletons.It also suggests that younger generations will prefer to rent as the idea of not being a homeowner becomes more socially acceptable, as well as claiming that rental properties will become more popular with people seeking more flexible and mobile housing arrangements.The above factors will all lead to buy-to-let properties playing a "pivotal role" in the UK housing market, Alliance and Leicester predicts."Demand for rented property has been growing steadily in recent years and returns on buy-to-let have increased," the bank's director of mortgages Stephen Leonard explained.This growth is expected to continue - as the number of renters rises further and buy-to-let becomes even more attractive to both existing and potential landlords."Eight per cent of the total value of mortgages in Britain is currently taken out on buy-to-let properties, according to today's survey.
Share this..
Related stories
Lloyds Bank and UK government at loggerheads
It has been revealed this evening that Lloyds Bank and the UK Treasury are at serious loggerheads over the proposed £250 million toxic asset insurance deal. It appears as though Lloyds Bank is unwilling to pay the substantial premium demanded by the authorities which is rumoured to be larger than that charged to the Royal Bank of Scotland, which is effectively under government control. So what ne...
Read MoreChildren now funding their parent's lifestyle
In a bizarre turnaround a report by Scottish Widows today has highlighted the fact that many parents are now struggling to survive financially and depending more and more upon their children. The report shows that in 2008 adult children gave around £6500 back to their parents who were struggling to make ends meet. However, the figure increased to £8250 in 2009 with 8% of adult children now helpi...
Read MoreCould some mortgage customers soon be receiving interest from their banks?
As the UK base rate continues to move headlong toward 0% this has opened up a rather interesting and intriguing debate regarding tracker mortgages which were sold back in 2007 as loss leaders advertising rates under the Bank of England base rate. While some of these rates were set at just 0.01% under the base rate there were others such as one by Abbey National which offered a rate which was 1% un...
Read MoreIs the Eurozone finally recovering?
After a period of five months which has seen prices falling across all 16 EU member states it was today revealed that Eurozone inflation now stands at 0.6% for the 12 months to November. This is a marked turnaround from the previous few months which has seen more and more pressure on prices and more and more pressure on economies and businesses. So what does the future hold for the Eurozone? Wh...
Read MoreMajority of mortgage holders could cope with rate rise
09/12/2014 A report by the Bank of England has claimed that the majority of mortgage holders would be able to cope with increased interest rates, on the basis that household incomes increase by 10% at the same time. The report claimed that in the event of interest rates increasing to 2.5%, only 4% of mortgage holders would need to take action in order to keep up with their mortgage repayment...
Read More