Leeds has moved into the number four spot in the list of top cities where residential landlords own property says the latest research carried out by BDRC on behalf of a syndicate of buy-to-let mortgage lenders and brokers.
Cambridge was previously listed in the top five with 3 percent of UK landlords owning their rental properties there but the list now reads:
London – 15 percent
Manchester – 5 percent
Birmingham – 4 percent
Leeds – 4 percent
Glasgow – 4 percent
Lynsey Sweales, a director at independent buy-to-let mortgage broker The Money Centre, explained that landlords are influenced by the proximity to town centres, rail links and motorways when purchasing buy to let properties; so good rental returns can be achieved in these cities.
She said: “Professional landlords are more likely to add locations with universities or large employers in to their search criteria for purchasing.”
• Today is another D-day for the UK’s biggest Buy to Let lender Bradford & Bingley. Shareholders have until 11am to decide whether they are going to take up a rights issue which the bank hopes will raise the £400m it needs to balance it books.
The bank is still guaranteed the money as it has been underwritten by other financial institutions including six other high street banks. But they would prefer not to have to pick up a large amount of he unwanted shares.
The West Yorkshire-based former building society has already made two changes to plans during its efforts to raise much needed cash.
Reports appeared saying the bank did not need to raise funds but then plans to raise £300m by offering new shares at a discount price of 82p were revealed. This price was discounted further when the Bank’s share price fell below this initial offer.
