A Buy To Let lender suggests that landlord fears about the Renters Rights Act are easing.

Some 69% of landlords believe the legislation will negatively affect their activities – high, but down from 76% before the reforms came into force.

The findings – from Paragon Bank’s latest Landlord Trends research nonetheless show that implementation has not been fractious. 

Over 60% of landlords surveyed report challenges including additional administration, uncertainty around notice requirements and concerns over possession.

A parallel statement from another financial source – Mortgage Advice Bureau – says that despite the Act, it arranged 6,790 buy-to-let mortgages worth more than £1 billion in the first four months of activity since the Act kicked in on May 1.

Volumes were slightly lower than during the same period last year, but Paragon says it has not changed its approach to underwriting buy-to-let mortgages as a result of the Act.

The lender says continued demand for rental property and the ability of portfolio landlords to absorb void periods across multiple properties have helped limit the impact of the tenancy changes on lending decisions.

Paragon managing director Louisa Sedgwick says: “Four months on, the conversations we’re having with landlords have shifted – it’s less ‘what does the Act actually say’ and more ‘what does this mean for how I run things going forward?’.

“Increased administration and the new notice requirements are the practical, day-to-day frustrations landlords are telling us about.

“But the bigger conversation is usually about the whole portfolio: is the current structure still right, does financing need to work harder, and where does this fit into their plans for the next few years?”