ALMOST five million UK adults have shown an interest in taking out a buy-to-let (BTL) mortgage this year, according to new research.
The survey, commissioned by Sainsbury’s Bank Mortgages, showed nine per cent of UK adults are considering becoming landlords in 2018.
Of those taking out or considering a BTL mortgage, over a third said a change in income had inspired them to do so, while 29 per cent remain encouraged by the current opportunities to enter the BTL market.
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A quarter were considering a BTL mortgage after receiving inheritance and may have found themselves “accidental landlords”. However, the research also showed that two in three UK adults don’t know what consumer BTL mortgages are.
When it comes to purchasing a property, the research showed that 51 per cent of potential landlords have considered buying a house, with 46 per cent having considered buying new builds prior to this year.
46 per cent have also considered buying a flat, with 44 per cent looking at new build flats.
The research bolsters a recent survey from Foundation Home Loans, which found that landlords are still keen to invest in the long term.