A growing number of Britons are letting out their houses instead of selling them and benefit by the rising rentals to head abroad seeking their own lifestyles. This is not merely for the summer but for more extended periods. Mike Goddard, CEO, Belvoir Lettings is of opinion that by letting out homes and enjoying a long holiday abroad, the owners tend to take a gap until the property market in UK picks up.

The highest average yield in UK rental since February 2006 is 6.4 %. According to Paragon Mortgages, a property worth £ 500,000 could earn a £ 2,600 a monthly gross rental income.

The people who rent out homes and move abroad think they are more relaxed in a foreign country and the full control of their property and tenants will be taken over by someone locally. Full article

Sep 16, 2008