Sainsbury's Bank's: Buy-to-let cover 'crucial'

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Sainsbury's Bank's: Buy-to-let cover 'crucial'

Thu 12th Apr 2007

With buy-to-let investments becoming an increasingly attractive proposition among property owners in the UK, consumers are being encouraged to ensure they are adequately covered.

Research carried out by Sainsbury's Bank indicates that with the number of buy-to-let mortgages having increased by over a fifth since 2005, the three million privately rented properties in the UK are collectively worth £510 billion.

Property in London retains the highest value, at £146 billion, while buy-to-let investments in the north-east have the lowest value, at some £14 billion.

With this in mind, the group is urging people to take up a Sainsbury's Bank home insurance policy, which offers landlords loss of rental income of up to £20,000 and contents cover of up to £40,000.

Sainsbury's Bank's home insurance for buy-to-let properties also provides unlimited buildings cover and no claims discount protection.

Robert O'May, home insurance manager at Sainsbury's Bank, said: "There has been huge growth in the number of properties rented out and it's a lucrative venture for many.

"It's therefore important for landlords to pick a good home insurance policy to protect their investments," he added.

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