Standard Life Bank: Buy-to-let trend on the increase

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Standard Life Bank: Buy-to-let trend on the increase

Tue 17th Jan 2006

Standard Life has found that an increasing number of landlords are turning to buy-to-let.

The bank states that the UK is seeing a rise in the buy-to-let lifestyle, with one-fifth of landlords opting for such deals.

Standard Life, which carried out the research, found that many of those living the 'buy-to-let lifestyle' were using the income earned from their property to go travelling or to reduce their working hours.

Andrew Boddie, head of marketing at Standard Life Bank, said: "A quarter of all respondents [500 in total] are earning up to £200 more than their mortgage commitments every month, 27 per cent are earning between £200 and £500 extra and 13 per cent are earning up to £1000 each month."

He went on to say that earnings on buy-to-let properties could be "significant" and that as a result it is expected that more people will adopt this lifestyle.

Mr Boddie concluded that additional options on buy-to-let mortgages were important to customers, such as a cash reserve and offsetting.

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