Eight in 10 landlords set to expand property portfolio
Eight out of 10 landlords (84 per cent) say they will expand their buy-to-let (BTL) portfolio over the next 12 months, according to The Mortgage Lender.
In a report entitled ‘The Mortgage Lender: Buy to let: The Landlord Experience’, conducted by OnePoll with 100 landlords, half agreed that tax changes have reduced the number of private landlords.
However, only one per cent said they think that has led to an increase in quality of rental property.
It also highlighted that only one in eight landlords had arranged specialist tax advice to help them manage their portfolios while only four in 10 used a specialist buy-to-let mortgage broker when arranging borrowing.
This is despite 45 per cent stating that they already owned between two and four properties.
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 and we’ve included landlord case studies to demonstrate the depth of borrower circumstances we are dealing with on a regular basis.”
Doug Hall, director at mortgage provider 3mc, added: “[The report] provides a snapshot of how landlords feel about the market, their tenants and the impact the myriad of changes has had on their portfolio intentions.”
According to the report, property maintenance, care of property and tenant behaviour were the top three concerns for landlords.