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Over 60 per cent of landlords don’t plan to sell BTL properties in next year

  • 17/07/2023
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Over 60 per cent of landlords don’t plan to sell BTL properties in next year
Around 64 per cent of landlords are not planning to sell any of their buy-to-let properties in the next 12 months, a survey has said.

According to research from Landbay, which surveyed over 1,100 landlords, three quarters with individual properties said they were not planning to sell.

This was followed by landlords with two or three properties at 69 per cent.

Around 65 per cent of landlords with over 20 properties also said they did not plan to sell properties.

Approximately 30 per cent of landlords said they plan to sell some properties, up from 28 per cent in the same survey.

Only six per cent said they planned to sell all their properties, with Landbay noting that this was split across small, medium and large landlords.

The most significant factor for landlords selling was rising interest rates at 60 per cent, up from 45 per cent in the previous survey.

Almost half said that rent did not cover their mortgage costs, which is an increase from 28 per cent in the previous survey that ran in Q4 2022.

Taxation was also a major factor, cited by 47 per cent of landlords looking to sell. This was followed by meeting EPC requirements at 40 per cent and worries about evicting tenants at 34 per cent.

Paul Brett, Landbay’s managing director, intermediaries said: “While it’s certainly the case that some landlords are trimming their portfolios in the current climate, our latest data demonstrates that the majority are not looking to make any cuts at all.

“This is positive news for the wider housing market which is so reliant on rental supply. After all, one in five houses in England and Wales depend on the private rented sector (PRS) for housing.”

He added: “As a specialist buy-to-let lender, we are always looking at ways to innovate to not only support buyers, but those landlords set to remortgage. With high levels of maturity in the buy-to-let market this year, there will be many weighing up their options in a higher interest environment.

“For those considering selling, we’d always say it’s worth their time speaking with a broker to find out what is their best possible move, especially when there’s lenders like us willing to innovate and find solutions to support landlords in all situations.”


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