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Monday, February 13, 2017

Most landlords are cash buyers

The majority of landlords are cash buyers according to data from agents Countrywide.

The agency chain reports that 61% of landlord purchases in January were cash, the highest figure for more than a decade.

Northern landlords are the most likely cash buyers, Londoners the least.

Johnny Morris, from Countrywide comments 

“On average landlords sell a home once every 17 years meaning as prices have increased, a significant amount of wealth has built up in the sector. This is now fuelling cash purchases.

With the forthcoming tapering of tax relief on mortgage interest payment, landlords have less of an incentive to borrow, suggesting more cash activity in 2017” 

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