Landlords in for the long-term

The majority of UK landlords invest in property for the long-term, using property as a tool for future spending, new research has revealed.

According to an Alliance & Leicester Mortgages study, 57 per cent of current landlords use their property to fund retirement or to help children with university fees.

Stephen Leonard, director of mortgages at Alliance & Leicester, revealed that the habits of current landlords emphasised the healthy future of British buy-to-let.

"It is encouraging to see landlords taking a measured, long-term approach to their buy-to-let investments," he said.

"Releasing the equity built up in a rental property over a number of years could provide a crucial lump sum to cover future needs, like university fees, helping their children onto the property ladder, or even acting as an alternative pension pot," Mr Leonard added.

The study also showed that only four per cent of landlords considered themselves to be professionals.

Property Investment News posted on 14/01/2008 12:25:33