That’s according to a special report into the buy-to-let market produced by The Mortgage Lender, which also discovered eight out of ten landlords were committed to the market going forward.
In fact, the report revealed, this 80% were keen to maintain or increase the number of properties in their portfolios over the next 12 months.
Tax changes
But, it also emerged, more than half of the landlords questioned as part of the report, agreed tax changes had reduced the number of private landlords. Meanwhile, 16% were looking to reduce the number of properties they had over the next 12 months.
The Mortgage Lender’s study – entitled Buy to let: The Landlord Experience – also looked at what worries landlords had and what kept them awake at night.
Concerns
It found the three top concerns were property maintenance, care of property and tenant behaviour.
When it came to the financial side of the business, only 15% of landlords were seeking out specialist tax advice about their rental properties.
And of those landlords using a mortgage to purchase their buy-to-let properties only 42% were using a specialist buy-to-let mortgage broker.
Peter Beaumont, deputy chief executive of The Mortgage Lender, said: “Our special report provides an in-depth guide to the buy-to-let market, including landlord obligations and yields around the country.
“Our panel of landlords have shared their worries and opinions with us and we’ve included landlord case studies to demonstrate the depth of borrower circumstances we are dealing with on a regular basis.”
George Osborn caused so many problems when he was in the Government. Most of the conditions he wanted implemented affected ‘Buy to Rent Landlords’. These changes are coming into the present taxation periods, and he has now left Parliament altogether, and made it less likely that people will invest in Buy to Rent Mortgages’. The knock on effect will be less properties to rent when there is already a shortage! I hope the Government will see what a terrible mistake he made in taking away all the allowances and in doing so almost stopped the’ Buy to Rent’ market.