Landlords split over future of traditional buy-to-let
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<img alt="Marc Shoffman" src="https://satoshinakamotoblog.com/wp-content/uploads/2018/09/Landlords-split-over-future-of-traditional-buy-to-let" class="avatar avatar-64 photo" height="64" width="64"/><br/>
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LANDLORDS are split over the financial viability of the buy-to-let sector following a tax clampdown, Octopus Choice claims.
A survey by the peer-to-peer property lender said that landlords are being deterred by extra stamp duty charges and the scaling back of mortgage interest relief.
Its research found that three in five buy-to-let investors want to keep or buy more rental properties, while two in five are looking to sell.
The majority of UK landlords still view it as a money-making asset class but think it will be on the decline in the future.
For those looking to exit the market, with a quarter blaming falling yields or tax changes and a fifth citing cooling house prices.
Another 60 per cent said property management had become a burden and 61 per cent said they undervalued the costs involved.
Read more: Octopus Choice opens IFISA for transfers
Despite the issues, 27 per cent still plan to invest in property compared with a third re-investing in another asset class or cash.
“Brits still have an incessant love affair with bricks and mortar – but the hassle and cost of buy-to-let is a source of growing frustration, and some landlords may find that their once reliable day-to-day income is becoming harder and harder to come by,” Sam Handfield-Jones, head of Octopus Choice, said.
“But this isn’t the case across all parts of the market, with money still to be made from the right property in the right region.”
Read more: Landbay extends lending to first-time landlords
Read more: Octopus Choice targets £200m of lending in two years
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Posted from my blog with SteemPress : https://satoshinakamotoblog.com/landlords-split-over-future-of-traditional-buy-to-let