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Landlords optimistic about buy-to-let despite tax changes and Brexit

Most landlords feel optimistic about the existing UK buy-to-let environment, fresh research suggests.

The study by Cambridge and Counties Bank showed that 64% of landlords felt positive about their position in the current economic and political climate despite Brexit.

Cambridge and Counties Bank’s landlord sentiment found the general outlook to be confident, despite stricter regulatory and tax changes in recent years, including the phasing out of mortgage interest relief, introduction of a 3% surcharge on second properties and the launch of more stringent affordability rules and stricter underwriting guidelines for portfolio landlords.

Cambridge and Counties Bank found that 13% of landlords surveyed were “very” optimistic when it comes to investment growth and yields.

Almost one in five - 19% - are reportedly looking to increase their portfolios by a third, while 11% wish to double their portfolio over the next three years.

However, Brexit is a major cause for concern for many landlords, with 40% of those surveyed conceding that it is top of their list of concerns.

Simon Lindley, chief commercial director, Cambridge & Counties Bank, commented: “Cambridge & Counties Bank has seen a steady stream of borrowers switching from other lenders, often recommended by the intermediaries and brokers we work closely with on a daily basis.

“We are actively focussed on becoming the bank of choice for professional property investors and landlords.”

Poll: Are you currently feeling optimistic about buy-to-let despite tax changes and Brexit?

PLACE YOUR VOTE BELOW

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