Younger people are being attracted towards making a buy-let investment, according to new research.
Research conducted by Mortgage Trust found that over a quarter of buy-let investors who own a single property are in the 26 to 35-year-old age bracket.
And 16 per cent of buy-let investors with up to three properties also fall into the same age range, a two per cent increase on six months ago.
John Heron, managing director of Mortgage Trust, feels that the figures indicate the emergence of “a new generation of young people who are preparing for the future by making long term financial plans”.
And he added: “Traditionally buy-let has been perceived as something for the more mature investor. However, recently we have been witnessing an increase in the number of younger professionals choosing to make a considered and long term investment in property.”
In related news, figures released recently by the Council of Mortgage Lenders revealed that buy-let lending is growing.
According to the CML, last year investors took out 330,000 buy-let mortgages, an increase of almost 50 per cent on 2005 figures.
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