Blog Post

Buy-To-Let Still Profitable

Jan 7, 2020, 14:30 PM by Rebecca Galgut

With recent uncertainty over Brexit, we are currently seeing average rents rising across the UK. There is also some healthy competition in the mortgage sector, creating attractive buy-to-let rates (book an appointment with our partnered mortgage brokers One 77 Mortgages here). This means that the public rental sector, still has plenty of profit for current and future landlords.

HomeLet claim that UK Rents have increased by a total of 3.2% this year - massively eclipsing the increase in house prices for 2019 and showing how good your returns could be. Excluding London, the average rent is currently £784. The North West has witnessed even stronger growth in the private rental sector, increasing by 3.9%. Greater Manchester and Liverpool showing they remain excellent and safe places for landlords to invest.

David Alexander, joint managing director of apropos, said: “There is still money to be made in the private rented sector and being a landlord can provide a reasonable income and a healthy pension. But landlords need to be more savvy to make it work and much more pro-active than in the past.”

“You must ensure your finances are arranged as efficiently as possible, that your costs are reduced to the minimum, and that your margins are as good as they can be.”

HomeLet data as follows:

 

Region

Nov-19

Nov-18

Annual Variation

UK

£947

£918

3.2%

North West

£721

£694

3.9%

 

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