A concerning new survey has revealed that the majority of investors in the buy-to-let sector feel that the Government is anti-landlord.
The research from Martin & Co found that 92% of landlords feel that the Government is against them. This is unsurprising given the raft of alterations introduced in recent times, such as the 3% stamp duty surcharge and mortgage interest tax relief, slated for April 2017.
Last week’s decision to ban letting agent fees is unlikely to have changed many opinions.
Results from the survey reveal that many landlords are angry at the host of changes that have been introduced in such a short period.
Of the 783 investors questioned, 74% called for stamp duty to be scrapped in the Autumn Statement, which of course never materialised. Over 50% of this group want to see changes to mortgage interest tax relief proposals.
61% of respondents said they were unsure about the future of the market during the next 12 months. The biggest number of negative responses came from landlords with less than five years experience. Those with landlord insurance on properties for more than this did say they felt more secure.
Ian Wilson, Chief Executive of Martin & Co, said: ‘The Government seems to be set on making life as difficult as possible for property investors, while ignoring the fact that landlords provide essential rental properties in locations where there are housing shortages and no realistic ability to buy. People are relying on the private rented sector to supply property, so we need the Chancellor to back our landlords and encourage them to continue to invest and provide a vital pipeline of homes for people who simply cannot afford to buy.’