Property North Wales

Rent income to soar for Landlords

According to estate agents Savills, they believe that the income to UK landlords in the private sector will see a substantial rise over the next five years, rising up to around £70bn. They say that the reason for this is that there are more and more people unable to get themselves a property in their own name, meaning the option of renting a property is the best option. Currently, £48bn is paid to UK landlords in the private sector, meaning a significant rise is forecast looking into the future.

It is widely accepted across professionals within the property industry that a need for significant investment is required into the private sector, to keep pace up with demand. Savills estimates that £200bm needs to be invested in the private sector, and expect just £50bn of that to come from buy-to-let finance. It is recognized that those larger investors buying in bulk should see the best returns on money at the moment.

For those struggling to get on the housing market it might be worth looking into the new first time buyer’s scheme. This government backed scheme has become increasingly popular for many who have been trying to get on the property ladder for many years.  There is a lot of information on line about this new scheme and you can also get more information about this from you local estate agents. Cavendish Ikin estate agents Chester have had an influx of enquiries regarding the scheme in recent months.   

The scheme aims to open up the housing ladder to those with a household income of less than £60,000 a year who are able to put down a 5% deposit on  a new home, those who qualify will be eligible for a20% loan of the value of the property.


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