UK specialist mortgage lender Landbay says its recent survey shows only 58% of landlords saying they will not dispose of any properties this year.
Among those with no plans to sell, the strongest intention came from non-portfolio landlords with less than four mortgaged properties (32%), closely followed by more than one in five (24%) who own portfolios of between four and 10 rental properties.
Landbay says that amongst likely sellers, 15% of respondents plan to sell up to 10% of their properties. And it says “less than one in 10” intend to sell up to 50% of their properties.
The biggest reason among landlords to sell was the prospect of regulation, such as the upcoming Renters Rights Bill. This was chosen by more than a third of respondents intending to sell (35%) and closely followed by landlord taxation – picked by 31% of respondents. In last year’s survey, this was chosen by more than half of landlords (51.4%).
Landbay conducted this research back in May but has only just released the figures.
The survey took place prior to leaks of potential Treasury plans ahead of the Autumn Budget which could see landlords paying National Insurance (NI) on their rental income.
Rob Stanton, sales and distribution director at Landbay, describes 58% of landlords staying fully committed to the sector is “hugely encouraging” but accepts that others are looking to scale back.
He adds: “As a sector, we absolutely need to get behind these landlords and give them the confidence to not just stay put, but to expand and succeed. As a lender in this space, we take this role really seriously – whether it’s launching and expanding our innovative product transfer offering or providing competitive rates and a broad product range to help landlords of all sizes when the timing is right to scale their portfolio.”
This article is taken from Landlord Today