UK landlords mark buy-to-let tenth anniversary

Posted: 06 Oct 2006 09:48:14 GMT

Landlords and lenders in Britain are celebrating the tenth anniversary of buy-to-let.

Landlords and lenders in Britain are celebrating the tenth anniversary of buy-to-let.

A new guide, published by the Association of Residential Letting Agents (ARLA) and the Council of Mortgage Lenders (CML) examines the first decade of the popular housing market innovation and provides investor landlords with vital information.

The 2007 Buy to Let Guide features data about developments in mortgages, profiles of property portfolios, new legislation, insurance and tax rules and is available from all ARLA member letting agents, providing landlords with a better understanding of their duties and obligations.

ARLA chief executive, Adrian Turner, commented: "This is a concise but colourful explanation of the ramifications that lie behind investment in the private rented sector. It makes it clear that Buy to Let is an investment opportunity provided the requirements of today's consumer society and modern legislation are taken into account."

The UK has an estimated 750,000 buy-to-let properties that are home to more than one million families.

A recent study by lender Paragon Mortgages predicted that landlord portfolios will increase by 3.4 per cent over the next year, with yields increasing by more than six per cent.

ARLA is credited with coining the term 'buy-to-let' in 1996 and the market has grown rapidly in the past decade, with the average buy-to-let investor currently owning 11.8 properties worth around £1.54 million.

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