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Landlords sell up as buy-to-let crackdown bites

The past few months have seen a number of buy-to-let investors sell up, and this is expected to place upward pressure on rents next year, bringing further misery to Britain’s growing army of renters, according to ARLA Propertymark (formerly the Association of Residential Letting Agents).

The supply of rental properties has fallen since January, owed largely to a rise in the number of buy-to-let landlords selling their properties, caused by a raft of ‘anti-landlord’ policies.

The introduction of the 3% stamp duty surcharge, the scrapping of the 10% ‘wear and tear’ tax allowance, and the fact that mortgage tax relief is currently being phased out, have prompted concern that there could be a net reduction of private rented properties next year, as more experienced landlords sell rather than buy.

“It was always going to be an interesting year, following the announcement of the letting agent fee ban in last November’s Autumn Statement,” said David Cox, chief executive, ARLA Propertymark.

Cox believes that buy-to-let landlords are becoming “more selective” about their property investments in light of last year’s stamp duty changes.

He added: “Mortgage interest relief is starting to bite which is why we saw an increased number of landlords selling up.

“It’s likely that as we move into 2018, tenants will continue to see rent increases as supply starts to reduce, demand continues apace, and legislative changes increase costs for landlords.”

  • Comprehensive TaxPlanning

    Its completely understandable why some investors have sold up. However, landlords should seek professional advice on ways to mitigate their ever increasing tax liability.

    Contact us to find out how landlords can mitigate their tax liabilities.

    www.comprehensivetaxplanning.com

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    less rental properties = bigger chose of tenants and increased rents for us landlords that are left, i'm not selling, i may even buy more, after all where else do you put your money to get a return on it ? i expect the landlords that have borrowed too much are the ones that are selling up.

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    Andrew
    I think you need to go back to school and learn how to spell and how to use capital letters. it is I and not I choice and not chose.
    The same goes for Terry Sullivan below.

     
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    i have almost paid off all my mortgages

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    Don't think the Government have stopped beating us yet. Oh no, I'm sure they are just regrouping and drawing up more ways of screwing us. Soon they'll be telling us who our tenants are, how much we are allowed to charge them in rent and how much profit we are allowed to make. So many people like myself who don't have pensions saw this as a way forward. Not now!

  • Comprehensive TaxPlanning

    Glenn, there are still things you can do. What is suitable for you very much depends on personal circumstances. drop me an email if you want to explore the options: sean@comprehensivetaxplanning.com I'm a chartered tax advisor specialising in advising property investors.

  • Comprehensive TaxPlanning

    Glenn, there are still things you can do. What is suitable for you very much depends on personal circumstances. drop me an email if you want to explore the options: sean@comprehensivetaxplanning.com I'm a chartered tax advisor specialising in advising property investors.

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    I really wish people would stop flogging their services on comment streams.

    If you want to advertise yourself then pay for an actual ad. And stop annoying others with your inane posts.

     
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    Agreed.

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    i think paul robinson should f o

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