Aspiring homeowners enjoy the buy to let lifestyle

25-Jan-2006

The buy to let market is currently experiencing a significant rise in popularity, with a number of first time buyers using it as a route onto the first rung of the property ladder.

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Figures released by mortgage lenders and estate agents indicate that 2005 was a good year for buy to let investors and that the coming 12 months are also set to see good returns.

Industry analysts explain that many aspiring homeowners see it as a way of getting onto the housing ladder while easing some of the financial burdens of purchasing a property.

Many are choosing to rent out the property while continuing to live with their parents and save up for a deposit, happy to be patient and wait until they are more financially secure.

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A survey among current buy to let investors found that one of the main benefits was the ability to enjoy a more "flexible" standard of living, thanks to the added income.

"Earnings on successful buy-to-let projects can be significant and provide landlords with income to change their lives," commented Andrew Boddie, head of marketing at Standard Life, which carried out the survey.

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