Pension Pot Landlords
Mortgage Strategy reports that “Nearly half of landlords in the UK are “pension pot” landlords, according to a landlord survey by Your Move.
The estate agent defines “pension pot” landlords as those who are over the age of 45 and view their portfolio as a long-term retirement investment.
More than four in 10 landlords class themselves as “pension pot” landlords, with nearly a quarter (23 per cent) of this group, having been a landlord for 15 years or more.
“Accidental” landlords – those who were not expecting to be landlords – were the second most common type of landlord (29 per cent), followed closely by “professional” landlords (20 per cent).
The survey also found that accidental landlords are most likely to be female and under the age of 45, often thrust into the market through inheritance or other changes in their personal circumstances. Professional landlords tend to be male, over 45-years-old, and consider being a landlord as a job or career. The findings also showed pension pot landlords are more likely to live close to their rental properties than either accidental or professional landlords, with 41 per cent living within one to five miles of the property.” Read the full article here