A recent survey by comparison website Rentround found that 53% of landlords surveyed were uncertain about staying in the buy to let market.
A lot of that uncertainty stems from issues related to Covid-19 affecting tenancies and property prices, potential defaults after furlough ends as well future tax hikes targeted at landlords.
One of those tax hikes is a possible rise in Capital Gains Tax which I have written about previously here.
This is on top of the very real problems from coronavirus restrictions and an effective ban on evictions. You can read more about the evictions mess for landlords and tenants here.
So, it comes as no surprise that many landlords are considering other options. To date, we haven’t seen a growth in sales from landlords quitting the sector but many, I believe, are waiting to see what the next few months bring.
One area that has grown is guaranteed rent as landlords try to secure income levels but some agents have removed those products from their offerings with the uncertainty of the lockdowns and the end of furlough.
Another one to keep an eye on.
If you have a large property or HMO, but with all the uncertainty in the market, eviction problems, potential licensing issues and ever-increasing regulations, you are considering your options, don’t hesitate to give us a call. We specialise in these types of properties and can help you to evaluate your options.
Call 0161 850 5588 or email info@armisteadproperty.co.uk
Thanks for reading
Peter Armistead
Founder, Armistead Property
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