Around 140,000 landlords retired in 2022, predominantly these were older investors, who were part of the early buy-to-let mortgages launched in 1996. They leave behind a gap which is at risk of not being filled. What does this mean for the next generation of landlords?
Currently, there are around one million landlords above the age of 65, with an average of 96,000 landlords turning 65 each year in the UK.
With many retiring, there is an opportunity for new landlords to enter the buy-to-let market.
Being a first-time landlord in the UK can seem like a daunting task, but there are many positives to owning a rental property:
If you are in a strong financial position to afford or consider entering the buy-to-let market, becoming a landlord could be a successful investment to make. However, there are risks involved and it’s important to understand the challenges you may face. For more information, contact your adviser who can support you with your buy-to-let mortgage.
To discuss the options available to you for your circumstances, get in touch with an Oviso advisor.
To find out more about mortgages, personal insurance, business insurance and protection or to discuss the options available for your circumstances, contact our team of advisors