Matt Stevens is a Director at the mortgage brokerage The Mortgage Genie. Here, he explains how you could boost your retirement fund by becoming a landlord.
If you’re approaching retirement age or looking well ahead to ensure you’re still financially comfortable when you leave the workforce, it’s likely you’re searching for ways to boost your savings. And, it’s becoming increasingly common for people in your position to buy a property with the intention of renting it out, as this can serve as a great additional source of income.
Now is a great time to go down this route because the demand for rented accommodation is already incredibly high, and only set to rise. In fact, it’s expected that a quarter of the UK’s households will live in the private renting sector by 2021, according to Knight Frank’s 2017 Tenant Survey.