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Landlords still keen to increase portfolio size – BOI

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  • 07/11/2016
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Landlords still keen to increase portfolio size – BOI
The Bank of Ireland's (BOI) UK Buy to Let Market Index found 46% of landlords with two or more properties said they planned to increase the size of their portfolio in the coming years.

Additionally, 52% of property owners said they would like to become a buy-to-let (BTL) landlord in the future if they can afford to do so.

The study of landlords and property owners across the UK found despite the Brexit vote and the recent tax changes to the buy-to-let market, confidence in the BTL market has remained high.

The index found 54% of landlords thought the referendum vote would make no difference to the BTL market. Meanwhile a further 19% suggested Brexit would be beneficial to their business.

However, 55% of landlords admitted they would need to increase the price of their rent. A further 38% said they were likely to switch mortgages to reduce the impact of tax relief changes on mortgage interest payments.

Mark Howell, director of marketing and customer management at Bank of Ireland UK Mortgages, said: “The tenth wave of our index shows that attitudes towards the buy-to-let market remain incredibly positive. Despite a number of events which were expected to have a negative impact on the sector, homeowners and landlords continue to see BTL as a solid long-term investment.

“Landlords do, however, need to be aware of the impact that George Osborne’s tax changes will have on the sector and ensure that provisions are made to protect against this.”

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