x
By using this website, you agree to our use of cookies to enhance your experience.

TODAY'S OTHER NEWS

Notable rise in the number of over 65s investing in buy-to-let

There has been an increase in the number of older people investing in the buy-to-let sector, fresh figures show.

Commercial Trust has seen borrowers aged between 65 and 75 increase their share of buy-to-let mortgage applications by 5.43% in 2018, owed in part to the fact that a number of mortgage lenders have recently increased their maximum age at the end of the mortgage term criteria from 75 to 85 years, while also pushing up their maximum mortgage term.

The data from Commercial Trust reveals a 4% increase in the proportion of buy-to-let purchases and remortgages from over 55s, who now account for 39% of all buy-to-let activity.

Advertisement

For purchase only applications, over 55s were responsible for almost a third - 29.7% - of all business in 2018, which is up 8% year-on-year.

Andrew Turner, chief executive at Commercial Trust, commented: “Our look at the age demographics for 2018 buy-to-let mortgage activity, suggests that increasing numbers of older people are recognising the potential of buy-to-let investments.

“Our data indicates that many people reaching retirement are choosing to invest in bricks and mortar and the rental market as a means to fund their retirement years.

“Investing in property has the potential to deliver attractive rental yields and achieve capital growth, despite industry changes. I fully expect that the returns fair better than many other forms of investment.”

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions.
If any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals, then the post may be deleted and the individual immediately banned from posting in future.
Please help us by reporting comments you consider to be unduly offensive so we can review and take action if necessary. Thank you.

Poll: Are you surprised that an increasing number of older people are ‘recognising the potential of buy-to-let investments’?

PLACE YOUR VOTE BELOW

icon

Please login to comment

MovePal MovePal MovePal
sign up