• Brighton, Bangor, Portsmouth and Leeds offer decent prospects for landlords
• Landlords in St Albans, Cambridge and London may find it harder
• Only six locations in London remain 'profitable' according to new findings

Brighton has retained its crown as the most profitable place to be a landlord for the second year running, new findings have claimed.

Taking into account rental fees charged to tenants and landlord costs, buy-to-let investors in the seaside resort can make a monthly profit of around £570, insurance group CIA Landlord suggests.

At the other end of the spectrum, St Albans has the poorest prospects for landlords this year, with some potentially making a loss of more than £700 a month, the research claims.

The findings argue that the majority of boroughs in London are 'unprofitable', with profitability nearly halving since January last year, amid a major exodus from the capital.

Buy-to-let investors are still required to pay a 3 per cent stamp duty surcharge on second homes worth more than £40,000.

This surcharge has remained in place during the Chancellor's stamp duty holiday, but some property investors have, in any event, been able to reduce their overall costs in some instances.

Richard Wayman, a director at CIA Landlord, said: 'Covid-19 has undoubtedly shifted the way new landlords will be looking to invest in 2021, and our ranking makes it clear that considering location alongside price has never been more crucial.

'When looking into the true costs of being a landlord this year, it can certainly come as a surprise to some at just how expensive certain requirements are as well as the fluctuation in these costs.

'Before taking your first step into the property ladder, we recommend you consider all of the costs involved in becoming a landlord and ensure you invest in an area that is stable and will be profitable for you in the long term.'

Top 10 best places for landlords to make a profit this year

10 locations in Britain where CIA Landlords say landlords could end up making a loss

Below Brighton, Bangor, Portsmouth and Leeds were all among the top ranked locations for landlords wanting to make a tidy monthly profit.

Lancaster, Bristol, Coventry, Manchester, Nottingham and Salford also made it to the top ten in CIA Landlord's latest findings.

At the other end of the rankings, buy-to-let homes in St Albans, Cambridge, Solihull, Chichester and Wells could potentially leave landlords forking out more money than they are raking in.

In St Albans, landlords could find themselves losing over £700 a month, while in Cambridge, the monthly loss could end up being nearly £600, given high property prices and hefty mortgage repayment costs in the famous university city.

'Due to the average property price, cost of a mortgage, monthly fees and rent charge changing throughout Covid-19, if you're not careful there are a number of locations where you will find yourself at a loss in profit per month in 2021', CIA Landlord said.

Salisbury, St Davids, Chelmsford also made their way into the top 10 poorest spots for landlord profits this year, according to the findings.