Landlord Numbers Opting For Limited Companies Rockets
The number of landlords who say they are planning to use a limited company for making their next buy to let investment has rocketed, research reveals.
The findings from Foundation Home Loans found that the numbers have significantly jumped in recent months.
The firm says that nearly two-in-three landlords are planning to make a buy to let investment using a limited company.
That's a big rise on the 55% who said in the second quarter that they would do the same.
A limited company vehicle is now the preferred option
Foundation Home Loans says that their research reveals that a limited company vehicle is now the preferred option for all landlords, regardless of their portfolio size.
Previously, only those landlords with a large portfolio of at least 11 properties said they were likely to buy a property in this way.
A director at Foundation Home Loans, Jeff Knight, said: "The rise in landlords using a limited company shows no sign of falling and we have a professional landlord community recognising the benefits of using a limited company.
"It's perhaps no surprise that growing numbers want to make their next investment through with a limited company."
Of those landlords who said that would use other methods to buy their property, 26% said they were looking to buy as an individual, 8% said they will look at the circumstances when they buy and 6% are looking to buy in the name of a spouse or partner.
40% of tenants will 'never buy'
Meanwhile, it has been revealed that 40% of tenants say they will never be in a position to buy their own home.
The research from Halifax found that 30% of tenants in the UK also say it is now normal for people to rent a home for life.
The managing director at Halifax, Russell Galley, said: "The first step onto the property ladder is still a rite of passage for many and with the right support it can be achieved."
The findings also highlight that the age of the average first-time buyer is on the rise - over the last 10 years it has risen from 30 to 31.
Also, tenants aged between 35 and 44 say they are less optimistic about being in a position to buy a home and overall 28% say there will never be able to buy a property.
Younger tenants, those aged between 18 and 24 are the most optimistic about eventually owning their own home - and 14% say they will never be able to buy.