A survey of some 2,000 landlords has found almost 80% fearing more tax rises in today’s Budget.
When asked to identify the single biggest concern facing their buy-to-let business, mortgage interest rates and finance costs topped the list at 29%, followed by further tax changes at 26%, highlighting the financial pressures landlords are continuing to manage.
The survey was commissioned by lender Landbay.
The survey found concerns about the Budget over the past few weeks have had an impact on some landlords’ immediate plans, with 22% delaying decisions about purchasing additional properties and 16% holding off on remortgaging or refinancing existing borrowing.
A further 14% said they were delaying improvements to existing properties, while 12% were postponing decisions about selling properties, while 11% were waiting before making changes to how their portfolios are owned.
However, despite the concerns expressed about further taxation, more than half of respondents (52%) said they had not delayed any business decisions ahead of the Budget, suggesting many landlords remain prepared to act despite ongoing uncertainty.
Despite these concerns, Landbay’s survey also suggests landlords remain relatively confident about their own buy-to-let businesses, with more than a quarter (28%) expressing a positive outlook for the next 12 months, up from 22% in the previous survey, while a further 33% remained neutral.
In addition, over a third (34%) still intend to purchase further rental properties over the coming year, suggesting concerns about taxation and the wider economic environment have not resulted in a lack of investment ambition.
This article is taken from Landlord Today