More than a fifth of buy-to-let landlords have to wait
longer than four months before signing up their first tenants, suggests
research for the Nottingham Building Society (NBS). Its study among landlords
across the country shows 21% said they had to wait four months or more after
completing their buy-to-let mortgage before they had their first paying
tenants. The research found 53% of landlords have paying tenants within a
couple of months of buying their first buy-to-let through lenders across the UK
but substantial numbers are facing delays which pile the pressure on their
finances. Costs involved in setting up as a landlord are not trivial – the
average landlord has to pay out £2,000 on their first property before they find
tenants although one in three (35%) manage to spend less than £1,000. Read more
on the Housing Excellence website.
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