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Buy to let viable alternative to pensions says UCB

Rising numbers of people are viewing investment in property as a viable long-term alternative to pensions and other investments, according to specialist lender UCB Home Loans.

A report by the Nationwide subsidiary reveals that buy-to-let activity remains buoyant in areas including Bristol, Northampton, Leeds, Manchester and Newcastle. UCB says this indicates how far attitudes towards renting — traditionally more popular in continental Europe — have changed in the UK and to what extent there are opportunities in the buy-to-let market.

Managing director Charles Reed says: "Our level of home ownership in this country is one of the highest in the world, so perhaps we’re now becoming more European in being more relaxed about renting. At the same time, for many people, investing in property which can them be rented out is becoming a popular alternative to pensions and other forms of investment."

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