Buy to let – return of confidence

The latest results from the quarterly survey by Buy to Let lender The Mortgage Works shows that landlords’ confidence in their own lettings business has recovered strongly from a dip in quarter 2 of 2016.

The tracking also highlight landlords’ future intentions with 23% of those surveyed planning to buy property, up 6% on quarter 2. The impact of Brexit was also highlighted, 33% of landlords believe that the decision to leave the EU will have a detrimental effect on them with just 10% believing it to be a positive step for the private rented sector.

64% of landlords are concerned that the Government changes on their tax allowances will affect their profitability but that hasn’t affected tenant demand, almost a third are suggesting a slight or significant increase and 44% confirming no change. Despite the questions around portfolio profitability, almost 1 in 4 landlords will look to buy more property to increase their portfolio in the next 12 months, up 6% on the number just 3 months ago.

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