Are you one of the two-thirds of landlords that are apparently planning to buy at least one more property in the next six months?
A study by buy-to-let mortgage broker Mortgages for Business revealed that 65% of investors already renting out homes expect to expand their portfolios in the second half of the year, up from 55% at the start of 2015.
The report also shows that just 8% of UK landlords are planning to sell some of their rental properties before the end of the year, and a further 27% plan to keep their portfolios the same in the near future.
Managing Director at Mortgages for Business, David Whittaker, comments: “Landlords are better capitalised and now more confident about reinvesting. A strong rental market is being driven by tenants moving to make the most of job opportunities.
“That new surge of demand is putting more upwards pressure on rents and landlords are only just beginning to supply more homes to let in response.”
The broker also asked investors about the support they receive from mortgage lenders, finding that just 30% think lenders do enough to understand the needs of buy-to-let landlords.
Additionally, 20% believe that mortgage providers should lend larger amounts and a further 20% would like lenders to cut their rates even further than the current record low.
Mortgages for Business also found that 57% of landlords think lenders should loosen the criteria that they measure borrowers against before providing a loan.
Do you feel supported by your mortgage lender and what do you think they could do extra?