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.