The normally upbeat survey of landlords by the lender Landbay has this time shown a growing number intending to sell some of their investment portfolios.
Just over a third of landlords (35%) told Landbay that they do intend to sell some of their properties – up from 29% in the previous survey.
The biggest reason for doing so is predictably landlord taxation – chosen by more than half of those looking to dispose of properties. This is an increase from just over a third in the previous survey.
Just under half (46%) intended to sell due to worries about evicting difficult tenants, in light of plans as part of the Renters Rights Bill. Fluctuations in mortgage rates is less of concern, but still listed by more than a third (39%) of landlords – down from 48% previously.
Fewer than half of landlords – 47% – said they have no interest in selling any properties.
The overwhelming majority of these owned their rental properties through a limited company (75%).
Fewer than two-in-ten landlords are still undecided and don’t know what their plans are.
The findings form part of Landbay’s latest survey which questions existing landlords on a variety of topics to determine their attitude and intentions.
A Landbay spokesperson says: “While government policy and taxation may be out of our control as a lender, it’s important that we continue to use the skills and capabilities we do have to give landlords the options and the confidence to stay put in the market.
“Just recently, we launched our product transfer offering to give brokers another option to support landlords when refinancing. The initial feedback has been really positive and we hope it continues to help landlords of all sizes as they weigh up their options.”
This article is taken from Landlord Today