Most landlords are investors and not speculators and are growing their portfolios at a rate of one property a year according to research from Mortgage Trust.The survey of 350 independent residential landlords shows that in May 2005 landlords held an average of 7.5 properties in their portfolios, up from 7.1 in January and anticipate to increase these by 12 per cent in the next 12 months. Most of the landlords do not have any newbuild property in their portfolios, with 77 per cent preferring established property. Where landlords do include newbuild property in their portfolios, they are not swayed by marketing incentives such as gifted deposits but find more benefit in these properties’ low maintenance. The landlords surveyed have average portfolios valued at 931,100 up from 822,100 in July 2004 and have an average of 8.6 years experience in the residential BTL market. Of the 350 landlords, 34 per cent plan to remortgage while 27 per cent are planning on increasing rents. Mortgage Trust marketing manager Nicola Severn says: “Public perception of BTL is sometimes confused with property clubs and instant millionaire schemes, which often encourage buyers to invest in off-plan, and new build property. To the contrary, genuine BTL landlords have strong bus- iness plans, use long-term tenancies and are cautious investors. They consider newbuild property only as part of a balanced portfolio.”
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Aifa will lobby for an extension of mandatory electronic reporting deadlines if it finds evidence that technical problems on the FSA’s website have impeded advisers from filing on time. Aifa director general Chris Cummings says it told the regulator several weeks ago that the date on the forms has to be input using the American […]
Friends Provident saw total life and pension business rise by 33 per cent from 212m to 282m in the first half of this year but says the market is difficult to assess in the run-up to A-Day.
Skandia Investment Management head of marketing David Orr is leaving later in the year to join Gartmore as senior marketing manager. He will report to head of sales support, marketing, Colin Hodges. Skandia sales director Spike Hughes will take on the expanded role of sales and marketing director.
The manager of the Artemis UK Smaller Companies Fund explains how his stock-picks have beaten a benchmark which is holding up better than most. To watch the video click here
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