10:27 AM, 3rd June 2016, About 5 years ago 9
Many property investors are optimistic about the future of buy-to-let, despite the tax changes that were implemented on April 1st.
Investors remain resilient, with some planning to add to their UK property portfolios by purchasing buy to lets across the country as tenant demand continues to outstrip housing supply.
However, landlords are planning to add more complex property types to their portfolios.
Houses in Multiple Occupation (HMO) are currently attracting an increased level of attention from landlords, with 28% looking to purchase HMOs which is an increase of 18% from 10% six months ago.
“Fewer landlords looking to sell and rather, looking for alternative ways to expand their portfolios, is a positive indicator for the state of the buy to let market. This shows that a significant proportion of investors have not been deterred by the changes to stamp duty and mortgage tax relief that were announced by the Chancellor.” said a spokesperson for Property 118’s landlord insurance provider Discount Insurance.
Although the number of investors looking to add to their portfolio has dipped slightly to 41% from 46% in November 2015, this can be explained by the changes to legislation.
Only 14% of landlords surveyed said they plan to reduce the size of their portfolios which is down from 18% in November 2015.
“Landlords need to remember to protect their new investment properties as soon as possible with the right insurance cover, to avoid any additional costs that may occur in the future,” added the spokesperson.
The research by Mortgages for Business has also seen a rise in limited company applications since the mortgage tax relief announcement.
30% of respondents said they owned a property in a limited company vehicle which has increased from just 22% in 2015.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Advice and implementation provided by a practising Barrister-At-Law with £10,000,000 of Professional Indemnity InsuranceBook Now
Previous ArticleRepairing corporate lease offer?
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|