One in five UK landlords have entered buy to let without even planning to, finding themselves with a property ‘accidentally’ or through inheritance, according to a survey.
When asked how they first became a landlord, 14 per cent stated this was via an accidental circumstance such as marriage or relocation. Almost one in 10 inherited their properties.
Some 23 per cent of those questioned by the Foundation Home Loans survey became landlords purely for financial reasons, considering it to be an attractive investment, with another 21 per cent planning to use earned rental income to fund their retirement plans.
A fifth classed themselves as full time landlords without another job, with the greatest proportion doing so in London.
Regardless of how they entered the sector, 17 per cent suggested they would be increasing the size of their portfolio in the next 12 months.