71% of landlords feel less confident post political instabilityMake Text Bigger
A landlord sentiment survey carried out by Foundation Home Loans considering confidence post political instability of the snap General Election and Brexit shows that 71% have experience a drop in confidence for the PRS.
38% of landlords have since reviewed the size of their portfolios due to increasing costs and 7% have actually sold property to reduce their exposure to the rental market. For portfolios of 20 or more properties the figures rise to 19% that have sold rental properties so the loss to the PRS increases with the larger individual providers.
30% of landlords also reported increasing rents with the largest percentage in the East Midlands with 41% instigating a rent review.
Jeff Knight, Foundation Home Loans marketing director, said: “Landlords have been met with a raft of changes, from stamp duty charges to shifts in tax policy, and the lack of certainty on the political front has clouded the picture somewhat.
“The response has been to batten down the hatches streamlining larger portfolios and protecting income by increasing rents. Decisions that can be reviewed once the Buy to Let market is more accommodating.
“The fact remains that, whether it’s as a stepping stone to home ownership or a longer term lifestyle decision for tenants, the rental sector is an increasingly important part of the housing mix.”
*Foundation Home Loans sentiment survey include 780 landlords across the Uk
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