Despite the unfolding political drams, additional taxes, and seemingly endless new regulations and legislation, research has revealed that nearly 50% of landlords are still keen to add to their existing portfolios.
Research – taken from a Mortgages for Business’ Property Investor Survey – showed that of the 186 landlords who completed the survey, 48% were keen to expand upon their existing number of properties, despite the phasing out of mortgage tax relief and the 3% stamp duty surcharge.
Additional data, taken from Legal & General’s Mortgage Club shows that savvy landlords looking to make additional purchases are looking north, with towns and cities in the north of England set to lead the way as ‘landlord hotspots’ over the next 12 months.
Following the investment from businesses in areas such as Manchester and Leeds, and a boom in student populations in the university towns in the areas, northern towns have never looked more attractive to keen investors. Further infrastructure, technology and business initiatives look set to support further growth across the region - great news for the investors who have already placed their settled their cash, and a sound bet for anyone looking to expand their portfolio into these areas.
This news comes just after Legal & General announce Leeds as the next city for 250 new Build to Rent homes, as part of the organisation’s drive towards creating 70,000 Build to Rent homes across the country – with other schemes moving forwards in Bristol, Salford, Bath and Walthamstow.
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