23 Nov

Landlords concerned about govt policies

Landlords concerned about govt policies

Many residential landlords believe the government is not supporting them, according to a new survey.

Research from Martin & Co shows 92 per cent of landlords in the UK feel many of the government policies have an anti-landlord slant and is undermining their financial position.

Changes to stamp duty rules mean that buy-to-let investors will have to pay an extra three per cent and they could be facing loss of mortgage tax relief.

A total of 74 per cent of landlords would like the recent stamp duty changes to be overturned in the forthcoming Autumn Statement, while 50 per cent also want the forthcoming mortgage interest tax relief legislation to be withdrawn.

However, many long-term landlords feel the buy-to-let investment market in the UK is still attractive, with 56 per cent of landlords don’t believe the recent vote to leave the European Union will have an impact on property investments.

“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,” said Ian Wilson, chief executive of Martin & Co.

“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,” he added.ADNFCR-1222-ID-801828723-ADNFCR

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