Continued assault on Buy-to-Let

The continued assault on buy-to-let is now having its affect, landlords are already feeling somewhat deflated as they question the viability of their business and are now considering their positions regarding their buy-to-let investments, the last attack on landlords was the increase in stamp duty to be introduced next April for buy-to-let and second homes.

Adrian Gill, director of Your Move and Reeds Rains is reported as saying, one in ten UK landlords is considering selling up.

He reportedly said: “Landlords could be forgiven for feeling a little deflated at the moment, and it’s worrying to see this may motivate many to reconsider their investment,”

“The government’s tax changes appear to be making investing in buy-to-let less attractive because of the seemingly smaller profits margins on offer in the future. If a 10th of landlords do decide to leave the industry, this would seriously shrink the number of properties available for tenants.”

The changes in  mortgage interest relief for landlords, the increase in controls over who and who not a landlord may rent their property to, which in effect forces landlords to act like immigration officers, increased regulations to health and safety (this has to be a positive) and now the 3% stamp duty all serve to deter existing landlords from remaining in the business and put off  those that may be thinking of entering.

Not only is the  private rented sector  an essential contributor to the country’s housing supply but government figures show  of the 3m new dwellings created in England between 1996 and 2013, 83% were private homes to rent, Ministers have acknowledged that the private rented sector provides the housing needed to support and encourage a flexible labour market.

Research conducted for the Residential Landlords Association (RLA) has also shown that each tenancy in the private sector nets the Treasury in the region of £1,000, Buy-to-let is a net contributor to the government’s coffers.

Mr Wilson probably Britain’s best known landlord announced only this week the departure of himself and his wife from the buy-to-let business, he reportedly told the Financial Times that changes in taxation and mortgage lending mean that it would now be impossible to build up a property empire like he did.




Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Love or Hate Rightmove
Breaking News

Rightmove House Price Index: Record asking prices driven by pent-up demand

The average price of property coming to the market for sale reaches a new record of £375,131, rising by 0.8% (+£2,807) in the month, as the momentum of the Spring selling season exerts some modest upwards price pressure : The market remains price-sensitive with average asking prices just 0.6% higher than a year ago The…
Read More
Breaking News

Breaking Property News – 17/05/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   New digital ecosystem Home set to transform how we move and manage our homes With moving home widely acknowledged as one of life’s most stressful events, pioneering new digital ecosystem Home is set to revolutionise the moving process, for the first time allowing movers…
Read More
Home and Living

7 Space-Saving Porch Swing with Stand Solutions for Small Yards

Porch swings signify feelings of relaxation and classic properties as they turn an outdoor space into a warm and comfortable haven. Nevertheless, for people living in small yards or with no outdoor area, getting a swing with its own stand is very difficult. The benefit is that these choices come in many different options, which…
Read More
Letting Agent Talk

Investing in Properties to Let as Airbnbs on the Isle of Wight

The Isle of Wight, a gem located off the southern coast of England, has become a prime destination for holidaymakers seeking a tranquil escape. This growing popularity has opened up lucrative opportunities for property investors, particularly those interested in letting properties as Airbnbs. Here, we delve into the benefits, considerations, and strategies for investing in…
Read More
Breaking News

Breaking Property News – 16/05/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   PriceHubble powers Mitsubishi Estate’s newly launched real-time generative AI property consultant Zurich/Tokyo, May 16, 2024 – PriceHubble, Europe’s leader in property data solutions for finance and real estate, is powering an innovative generative AI solution launched in beta version on the Japanese market by Mitsubishi…
Read More
Breaking News

Breaking Property News – 15/05/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Savills Investment Management wins City of Munich as a new tenant in the Atrium office building Press Release – Frankfurt, 15th May 2024. Savills Investment Management (Savills IM), the international real estate investment manager, has signed a lease agreement with the City of Munich…
Read More