15 Mar

Landlords apprehensive about forthcoming Budget

Landlords apprehensive about forthcoming Budget

Many landlords have experienced concerns about the forthcoming Budget and the impact on their property investments.

According to research by property crowd funding platform The House Crowd, 66 per cent of landlords believe George Osborne will have bad news for them, with many already considering withdrawing from the buy-to-let sector before the end of 2016.

The government has passed a number of new legislation that has impacted on the property investment market in recent times, including an increase in stamp duty on second-homes and the introduction of the EU Mortgage Credit Directive.

Therefore, the survey found 70 per cent of landlords feel they are facing a negative influence on their investments, while 43 per cent expressed concerns the government is targeting small-scale investors.

However, there was one area that more than half of the landlords involved in the study felt the government should intervene more - the clamp down on rogue landlords via increased regulation.

"With house prices continuing to rise and the property market outperforming the FTSE, bricks and mortar presents a strong investment option," explained Frazer Fearnhead, chief executive officer of The House Crowd.

"Despite this, new legislation is making buy to let ever less accessible for the small landlords who want to invest in something sensible and tangible to secure their futures. As many of the landlords surveyed identified it's time for beleaguered investors to be looking at their options," he added.ADNFCR-1222-ID-801814666-ADNFCR

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