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MK saw the largest number of buy-to-let completions last year

Milton Keynes was the most popular place in the UK for landlords buying properties to rent out, figures have shown.

In 2021 buy-to-let completions in the borough soared by 667% compared to the previous year.

The figures come from Paragan Bank, which specialises in mortgages for landlords.

Buy to let properties are being snapped up in Milton Keynes

Paragon Bank's director of mortgages, Richard Rowntree, says landlord demand for city and town centre property was strong in 2021, with its analysis showing completions for house purchases increasing by 100% compared to the previous year. Landlords had been reacting to tenants’ desire to live in urban areas, but in smaller towns and cities.

He said the most popular places were in commutable distance to a major city and had "healthy local economies".

According to leading landlord website LandlordZONE, investors are increasingly choosing to buy properties in secondary towns and cities rather than major places such as London.

The top ten hotspots below MK included Plymouth (183%), Stoke (157%), Northampton (133%), Cardiff (70%) and Nottingham (64%).

Milton Keynes becomes buy to let capital of the UK for landlords