The survey, which questioned more than 500 landlords across the UK, revealed that 17 per cent of respondents used the money earned from their property to go travelling. 10 per cent used their earnings to reduce their working hours and work part-time, while 10 per cent used the money to retrain or set up their own business. However, the idea of buy-to-let lifestyle doesn’t just cover big life changes – almost a quarter (23 per cent) said that their rental income had enabled them to renovate their own homes.
“Our survey revealed that a quarter of all respondents are earning up to £200 more than their mortgage commitments every month, 27 per cent are earning between £200 and £500 extra, and 13 per cent are earning up to £1000 each month,” said Andrew Boddie, head of marketing at Standard Life Bank.
“Earnings on successful buy-to-let projects can be significant and provide landlords with income to change their lives – and with one in five already reporting that they are benefiting in this way, we expect to see this number rise as more people use their property to embrace a more flexible lifestyle.
“The majority of people (52 per cent) first became landlords in order to invest in their future, but many of those in buy-to-let have now started to realise the earning potential that renting can deliver.
