Published: 15/04/2021 By Donna CowanBuying an Investment Property with Lockdown Savings
Are you thinking about spending your lockdown savings on an investment property?
It appears that now more young people are investing in property instead of opting for the more traditional options such as pensions. New research by mortgage broker Commercial Trust has revealed the two age ranges that have witnessed a year-on-year rise in the proportion of all buy-to-let mortgage applications since 2015 are 20 to 29 years old and 30 to 39.
It appears that COVID-19 has changed peoples’ attitude towards saving. The pandemic has stopped people from splashing out on expensive holidays and nights out resulting in significant savings. It has been reported that Britain’s ‘involuntary’ savers have managed to save a collective £150 billion throughout this period.
Simon Rouse, Sales Director of Greenwood Property Consultants, says: “The strength of the UK property market has been realised by the younger generation.”
“Young people are increasingly realising the numerous benefits associated with investing in property and are acting decisively to start their own portfolios.”
Property prices in the UK have risen substantially in the last 10 years. Investing in property delivers a tremendous return in a multitude of ways, from substantial rental income to medium to long-term capital growth. If you are interested in gaining by investing in bricks and mortar, please contact a member of our team on 01206 616820 or find out more on www.greenwoodpc.co.uk