More and more people are quitting their jobs and instead becoming professional buy-to-let landlords. It is hugely risky, but buying to let on a grand scale has made some people very, very rich.
There are already more than a million buy-to-let investors, mainly modestly people with one or two properties in addition to their home. In many cases they did not choose to become property investors – these are the accidental landlords who inherited a house or kept a previous home when they traded up to another.
But banks and mortgage brokers say a growing number of buy-to-letters are going professional and quitting day jobs to become full-time landlords. The number of “mega-landlords” – those who own scores of properties – is on the up.