Do landlords believe the government is anti-investor?
According to a snap survey by Martin & Co, more than 92% of landlords believe the Government is anti-landlord and are calling for the Chancellor to back them in the Autumn Statement.
The research reveals the anger felt by the majority of property investors nationwide, with the most vociferous responses from people who have been landlords for less than five years and own five or fewer investment properties. 783 landlords took part in the survey.
More than 74% of landlords would like to see this year’s stamp duty changes to be scrapped in the Autumn Statement. In addition, more than 50% of this group would like the Chancellor to remove punitive changes in mortgage interest tax relief, which comes into force in April 2017.
A majority of landlords surveyed - 61% - felt uncertain about the outlook for the property market in 2017, though the majority of negative responses came from landlords who have owned investment properties for less than five years. The flipside is that long-term landlords feel more secure within the UK buy-to-let sector.
Ian Wilson, Chief Executive, 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.”
One landlord commented: “Why make it more difficult for landlords when the UK has such a shortage of affordable rentable properties? It will just put off landlords.”
Another landlord said: “In a period of housing shortage, the government should be encouraging investment. The policy is flawed because it assumes that everyone wants to buy which, for a variety of reasons, is not true.”
When asked whether the planning system should be changed to encourage more Build to Rent development, the newer landlords were in favour of this, with the largest group in favour based in the South East.
One landlord stated: “Any system which increases the quantity of high quality of rental accommodation must be good for the country.”
artilce by By Warren Lewis 21st November 2016
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