17 percent of landlords set to expand portfolio in next 12 months
One in six landlords – 17 percent – are planning to increase their property portfolio over the next 12 months.
This was the finding of a survey by the Foundation Home Loans, which also revealed that 23 percent of landlords invested in property purely for financial reasons, while another 21 percent plan to use their rental income to fund their retirement.
Despite a raft of recent tax and legislation changes affecting the buy-to-let market and uncertainty around the property industry spawned by Brexit, investing in property to let out remains an attractive option for investors, with returns often surpassing other investment assets, such as gold, savings accounts and stocks and shares.
According to a report by estate agent ludlowthompson, their long-term landlords have seen an average return of 9.9 percent each year since 2000.
With landlords now having multiple buy-to-let properties on their books, it’s imperative the growing number of portfolio landlords have the right insurance in place to protect their assets and tenants.
Residential Property Owners Product
Nelson Policies at Lloyd’s new standalone Residential Property Owners Product can cater for the requirements of landlords with multiple properties under one convenient policy.
Our new product is suitable for different types of tenancies, including DSS, student lets, holiday lets, professional lets, and others.
With our Residential Property Owners policy, landlords with multiple properties can be covered for the following:
- Improved loss of rent coverage
- Options of being able to add Accidental Damage cover to buildings
- Malicious Damage caused by tenants’ extension or
- Loss of Key Extension
If you would like to find out more about our residential insurance product that can cater for the growing number of landlords owning and letting out more than one property, get in touch with Nelson Policies at Lloyd’s today for advice on finding the right solution for a non-standard residential policy.
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Q&A with … Kelly Staggs our longest serving team member, renewals underwriter.
As I oversee all the commercial renewals, I like the fact I am continuously kept busy. Every day, I am reviewing a different type of risk and seeing how other people would underwrite it. I also like having the ability to re-review a risk and provide the best options for both the Insured and broker.
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