Landlords 'looking to buy up more properties'

Date:Tuesday 22nd June 2010
Author: Susanna Kavka

The number of landlords who are planning to buy another property to rent out has increased sharply during the third quarter of the year.

In the Paragon Trends poll it was found that 21 per cent of all landlords were considering adding to their property portfolio during the coming months.

By comparison, 11 per cent had planned to buy another house during the first three months of this year and 12 per cent during the second quarter.

Investing in a terraced property was the intention of 74 per cent of respondents who stated that they wished to add another home to their list, with semi-detached houses and flats also proving to be popular.

For those who are looking to purchase a property, the Council of Mortgage Lenders recently reported that there had been a seven per cent increase in the total lent out by borrowers during May when compared with the previous month.