Most landlords will not be selling their BTL properties

Most buy to let landlords (64%) say they are not planning to sell any properties in the next year, a survey has found.

The data from Landbay’s quarterly survey also found that 75% of landlords with one property felt most strongly about not selling.

And for those two or three properties, 69% of landlords say they aren’t interested in selling.

Landbay says that 65% of portfolio landlords with at least 20 properties also say they have no plans to sell.

‘Some landlords are trimming their portfolios’

Paul Brett, Landbay’s managing director of intermediaries, said: “While it’s certainly the case that some landlords are trimming their portfolios in the current climate, our latest data demonstrates that the majority are not looking to make any cuts at all.

“This is positive news for the wider housing market which is so reliant on rental supply.

“After all, one-in-five houses in England and Wales depend on the private rented sector (PRS) for housing.”

30% of landlords are planning to sell some properties

However, the survey did find that 30% of landlords are planning to sell some properties – that’s up from last quarter’s figure of 28%.

And just 6% of landlords say they will sell all of their properties.

When asked why they would sell, 60% of landlords point to rising interest rates – up from 45% previously.

Worryingly, 45% of landlords admit that the rent payment doesn’t cover the mortgage costs, up from 28% in the last quarter, and 47% say taxation is a reason for selling.

Other reasons for quitting include meeting the proposed EPC demands (40%) and fears over evicting tenants (34%).