A new survey shows that just over a third of landlords have recently purchased another buy to let property or intend to buy one within the next nine months.
Results from the poll of 300-plus landlords suggest that the ‘opportunity to buy at a discount’ is the most commonly cited reason among those who have recently bought or soon intend to buy additional rental property, with other key factors including long‑term investment, stamp duty savings, and diversification by either location or property type.
Some 43 per cent of landlords surveyed said that they had temporarily lowered rents during the pandemic to help tenants, with 22 per cent saying they had refinanced their mortgages since the arrival of coronavirus.
The survey results also suggested that just seven per cent of landlords have taken a mortgage holiday; 13 per cent of landlords have sold a property during the pandemic, often citing poor yields as the reason.
The survey was conducted by The Deposit Protection Service and Zephyr Homeloans.
Matt Trevett, managing director at The DPS says: “Although the buy to let market has remained more buoyant than some predicted, the last year has not been without its challenges for many tenants and landlords.
“The survey suggests a large proportion of landlords have been acting to support their tenants, with a significant proportion saying they had temporarily lowered rents during the pandemic.
“A recent survey from The DPS also showed that the pandemic has triggered movement from cities to towns and the countryside, so landlords seeking to rebalance their portfolios may look to make purchases that reflect that trend.”
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