Platinum reports 20% surge in buy to let investors
The number of buy to let investors signing up to Platinum Portfolio Builder’s services in the first quarter of 2011 has risen by 20 per cent on the previous quarter, the company said today.
Nick Carlile, the firm’s founder, said rising inflation was forcing more savers to look for alternative options.
He said: “Savers are finding it increasingly difficult to find accounts that protect their funds from inflation erosion.
“Many people will see inflation eating into their hard-earned savings faster than it grows, which is to the misery of those approaching retirement who were relying on savings to supplement their income.”
Conversely, low interest rates, high rental demand and improved lending in the buy to let sector are making conditions ripe for investor landlords to really make the most of the current market, expand their portfolios and capitalise on the unassailable fact that more Britons have to rent, Mr Carlile added.
He said: ”Despite the Government pledging a £250 million package designed to help first time buyers, the fact is tenant demand has already hit a two year high.
“Unless mortgage availability improves, then predictions that one in five households will be in the private rented sector by 2015 will ring true.”
