Over-50’s increasingly looking at buy-let market

People aged over 50 are increasingly looking at the buy-let sector as a means of supplementing retirement income, according to a new study.

Research undertaken by Saga Home Insurance found that 24 per cent planned to become landlords in the next 12 months.

The investments would be financed by a mixture of homeowner loans, buy-let mortgages
and personal savings.

Andrew Goodsell, chief executive of Saga Group, said it is “no surprise” that so many over-50s “own the majority of second and rental properties in the UK”.

In related mortgage news, the government has recently introduced a program – the Open Market Homebuy Scheme – to help first-time buyers onto the property ladder.

The government claims the shared equity scheme, designed to help public sector key workers and “other eligible individuals”, offers more benefits than a conventional mortgage
.

© Adfero Ltd

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