Research conducted by the Council of Mortgage Lenders* on UK landlords has found that 49% of UK landlords own their property outright.
The survey of 2,500 landlords also found that 50% of rented properties in the UK are owned by buy-to-let landlords. Of the landlords questioned, 62% of them own a single property, while over half of buy-to-let landlords own more than one.
In fact, the average buy-to-let portfolio is 2.7 properties. This has, however, decreased since 2004, when similar research was conducted. In 2004, over 30% of buy-to-let landlords had 6 or more properties, while this number is now around 7%.
The study also highlights the prevalence of accidental landlords – often those who choose to let their property if they can’t sell for whatever reason, or those who inherit a property from a family member and use it as an additional source of income – which account for nearly a quarter of all landlords in the UK.
Most landlords in the survey own rental properties close to their own home, with a split between those who manage the property themselves and those who employ a managing agent, like Foxtons Property Management service.
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