The Mortgage Lender has published a report which reveals that 84% of landlords say they are committed to the buy-to-let market and looking to maintain or increase the number of properties in their portfolios over the next 12 months.
The specialist lender’s report, Buy-to-let: The Landlord Experience, which includes research among a panel of residential landlords, also reveals half of all landlords agree tax changes have reduced the number of private landlords but only 1% think that has led to an increase in quality of rental property.
Meanwhile, just one in eight landlords is seeking out specialist tax advice to help them manage their portfolios while only four in 10 are using a specialist buy-to-let mortgage broker when organising their borrowing.
Other finds are as follows:
- The most common number of properties for landlords is between two and four – 45%
- One in ten landlords is now using a limited company structure for their investments – 11%
- 84% of landlords are looking to maintain or increase the number of properties they have over the next 12 months
- 16% looking to reduce the number of properties they have over the next 12 months
- Property maintenance, care of property and tenant behaviour are the top three concerns keeping landlords awake at night
- Half of landlords agree that tax changes have reduced the number of private landlords while a third think the changes have increased rents but only 1% think they have contributed to an increase in quality of rental property
- Only 15% of landlords are seeking out specialist tax advice about their rental properties.
- Of those landlords using a mortgage to purchase their buy-to-let properties only 42% are using a specialist buy-to-let mortgage broker.
Peter Beaumont (pictured), The Mortgage Lender’s deputy chief executive, 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 with us and we’ve included landlord case studies to demonstrate the depth of borrower circumstances we are dealing with on a regular basis.”