More than a quarter of private landlords plan to increase the size of their property portfolios in the next year, compared to just one in 14 who plan to sell up.
That’s the claim of Butterfield Mortgages, which has commissioned an independent survey among 2,000 UK adults. It found that of those who own buy to let properties, 26% plan to increase the size of their portfolio in the coming 12 months.
Two-thirds intend to keep their portfolios at the same size as they currently are. Despite speculation that there will be an exodus of landlords from the BTL market, just seven per cent of the landlords surveyed said they plan to shrink their portfolio in the next year.
Butterfield Mortgages’ study also revealed that nearly half of landlords found the rise in interest rates a challenge in terms of managing their property investments.
Yet only 37 peer cent said they had increased their tenants’ rent in the last year, with 62 per cent feeling uncomfortable about doing so at a time when many tenants were dealing with the increased cost of living.
However, as interest rates and mortgage repayments start to stabilise, 69 per cent of landlords expect to increase rents in the coming year, which could see improved rental yields in the months to come.
Butterfield chief executive Alpa Bhakta says: “For the best part of a decade, speculation has been rife that landlords will quit the BTL market in their thousands. However, our data is the latest to challenge such predictions, showing that the vast majority of private landlords remain committed to either maintaining or growing the size of their property portfolios. It underlines the enduring appeal of BTL as an asset class, even despite added costs and regulatory complications for many.”
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A lender wants people to believe that landlords want to take out more mortgages rather than sell up. 😱 They should read the comments on here instead of commissioning expensive surveys.
More self-serving Mortgage Industry hogwash.
Maybe this is the truth of the situation. Is it possible that the Government believe these idiotic statistics and self serving organisations and this is why we are very much in the mire.
This is pure hype.
The only properties that Corporate companies are interested is high end, concierge apartments with swimming pools, gyms and coffee shops for the well heeled of this country.
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