BTL investors sell Central Housing Group

‘Over half BTL investors to sell some properties’ – claim

Specialist funding platform Property Partner has conducted a survey which suggests that 54 per cent of BTL investors are selling all or some of their properties.

One of the key reasons is the phased reduction of mortgage interest tax relief introduced last April: 64 per cent of BTL investors have had their finances negatively impacted by the mortgage interest relief changes.

Some 59 per cent say they have been hit by increased stamp duty on second homes while 44 per cent have had their finances negatively impacted by harsher mortgage affordability checks.

Mark Weedon, head of research at Property Partner, says: “The government’s plan is to cool the buy-to-let market in order to increase access to property for potential first time buyers.

“Unfortunately it’s clear many landlords are being forced to consider increasing rents to offset their losses, which could actually hinder those looking to take their first step on the housing ladder.

“The UK housing market remains vastly undersupplied. Attempts to tweak demand with a crackdown on investors will not solve the housing crisis- the real solution is to build more houses.

“We should also remember a number of people in the UK choose to rent and enjoy the flexibility renting provides. Professionalised landlords are central to supporting this group in the UK.”

Blog Post from Letting Agent Today

See details of our Guaranteed Rent Scheme here

If you have any comments, please email the author of this article and click on the link above

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors



Registered Office: Woodgate Studios, 2-8 Games Road, Cockfosters, Hertfordshire, EN4 9HN | Registered in England and Wales | Registered Company No. 3961047 | VAT Registration No. 752 6015 48

 

Social Media Auto Publish Powered By : XYZScripts.com
Google Rating
4.8
Based on 110 reviews
js_loader