There has been an increase in the number of property investors.
The number of buy-to-let landlords who want to continue investing and expand their portfolios has increased, according to a new survey from Mortgages for Business.
The survey, which involved 186 property investors, revealed that 48% of landlords are keen to grow their portfolio. This compares with 41% a year ago.
These findings are interesting, and demonstrate that property investors are still committed to expanding their property portfolios despite the recent tax and stamp duty changes.
The buy-to-let sector has been hit with a series of measures in recent years, including an additional 3% stamp duty surcharge on the purchase of buy-to-let properties, and changes to mortgage interest tax relief.
Steve Olejnik, Chief Operating Officer of Mortgages for Business, said: "these results demonstrate that landlords are a resilient bunch, capable of adapting their investment strategies to successfully accommodate the new fiscal and regulatory landscape."
These figures indeed show that landlords are being flexible and adapting to the tax changes, while seeking out other options. One option which has proved popular is incorporating, with more landlords turning their properties into limited companies.
In addition, there is a new preference for five-year fixed rates, as these give landlords more mortgage options. Three-year fixed rates were previously preferred.
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Mortgage Finance Gazette