Number of first-time landlords growing

The number of first-time landlords entering the private rental market is increasing, according to a new report. 

Paragon's latest quarterly trend survey found that the presence of new landlords in the sector has been growing since mid-2009.

"The dynamics of the landlord market are changing. Professional landlords were typically the backbone and driving force behind growth in the market," commented John Heron director of mortgages at Paragon.

However, he said that in recent times these professional landlords have struggled to release equity and secure new finance. 

This had led to private investor landlords who typically own between one and five properties "picking up the slack". 

The report found that on average 20 per cent of intermediary companies' business has come from first-time landlords since the final quarter of 2010. 

Peter Maskell of estate agents Brock Taylor said the report shows the "continuing desire of those who wish to invest in property doing so via buy to let." 

Here at Applegate Lettings, we offer a specialist service, helping and advising those who have never been a landlord before. We understand it can be a daunting task but we're here to make the process as easy as possible. 

Article taken from www.rman.co.uk
Image: EtiAmmos/Shutterstock