Estate agent Countrywide has found that large numbers of landlords are paying for buy-to-let properties in cash. Over the past year, 65% of all homes bought by a landlord were purchased with cash, up from 60% in 2011. The figure is the highest since 2007 when Countrywide began keeping records. A spokesman said: “Landlords have been using cash to buy property as part of their mortgage repayments and this trend continues today. 200m more than in 2016, and 32% more than in 2007. Record numbers of landlords are now building their buy-to-let portfolios using cash, Countrywide claims. The annualised rate of rental growth dropped to 0.5% in October, from 1.1% in September, with the average British new let being £958 a month.
Estate agent Countrywide has found that large numbers of landlords are paying for buy-to-let properties in cash. Over the past year, 65% of all homes bought by a landlord were purchased with cash, up from 60% in 2011. The figure is the highest since 2007 when Countrywide began keeping records. A spokesman said: “Landlords have been using cash to buy property as part of their mortgage repayments and this trend continues today. 200m more than in 2016, and 32% more than in 2007. The annualised rate of rental growth dropped to 0.5% in October, from 1.1% in September, with the average British new let being £958 a month.