Almost half of buy-to-let landlords are looking to expand their property portfolios, according to a new poll.
The Mortgages for Business’ Property Investor Survey revealed that, despite the existing phasing out of mortgage tax relief and the introduction of the 3% stamp duty surcharge last year for those acquiring an additional home, including a buy-to-let property, 48% of landlords are currently looking to add to their portfolios.
This figure is up from 45% in November and 41% a year ago.
The study, which was carried out over a two-week period last month, had landlords answering questions about their portfolios.
Steve Olejnik, chief operating officer of Mortgages for Business, said:
“Although we expect buy-to-let lending to reduce somewhat this year, these results demonstrate that landlords are a resilient bunch, capable of adapting their investment strategies to successfully accommodate the new fiscal and regulatory landscape.”
The research found that 62% of landlords have been adapting to the changing environment by consulting tax advisers in regards to recent tax amendments and 42% of investors are currently opting for longer fixed-term mortgages.
“Incorporation is becoming a standard practice and the move towards five year fixed rates allows landlords to maximise their borrowing options.”
If you are looking to invest in the North Birmingham, Sutton Coldfield or South Staffordshire areas, please contact our dedicated Lettings Hub to start your property journey with Paul Carr Residential Lettings.