19^th Jul 2019

A mortgage lender's latest survey has revealed that just over half -52%- of BTL landlords are using their rental income to 'top up' their day jobs' income.

The research also suggests that even BTL investors with multiple properties are still choosing to have full time employment. The survey found that 32% of landlords who own 11 to 19 properties use the rental income to 'top up' their full time jobs. Nearly a fifth of landlords (18%) with more than 20 properties enjoy other income as well as their rental incomings.

The report found that around a third of landlords live solely off of their property portfolio incomes and nearly half (47%) who have six to ten properties, do the same.

16% of landlords are planning to purchase more properties over the next twelve months with 71% funding them through BTL mortgages.

Alan Cleary, managing director of the mortgage lender, said: “Given that the majority of landlords have other earnings that can be used to show they can meet underwriting standards, lenders need to reflect this in their product offering to support landlords accordingly.”


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