Brexit not putting brakes on landlord plans
Monday 13 November 2017
A Simple Landlords Insurance survey has found that 85% of landlords are still undeterred by the prospect of leaving the EU.
Despite the ongoing Brexit uncertainty, only 8% of landlords are planning to put off their plans for future investment as a result - down from last year.
Things closer to home appear to worry landlords more - including stamp duty, capital gains tax and stricter mortgage lending rules. As a result, 41% of landlords have reevaluated their investment plans over the last year.
Bigger landlords are most concerned about Section 24, while smaller landlords worry most about periods of unoccupancy.
As a result, just 1% of landlords with larger portfolios, and only 3% overall, consider the government to be supportive of the buy-to-let market.
Alex Huntley, Head of Operations at Simple, says: “It’s no wonder that landlords are feeling the pinch - and blaming the government for some of the challenges they’re facing. But there is good news too.
“Landlords remain confident about their future prospects. Only 3% plan to exit the market, and almost a third - 32% - with five or more properties plan to invest over the next two years.
“We’ve found that the bigger the landlord, the more positive the outlook - and it’s those growing and expanding steadily but surely who are set to survive not only Brexit, but other market forces too.”
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