Fri, 01 Oct 21
The end of the stamp duty holiday today has triggered a reduction in the number of buy to let investors saying they will purchase more property.
Research by Simply Business, surveying 560 landlords across the UK, suggest that many still have concerns about government regulation, with over a third citing this as a reason for their decision not to buy more property.
There is also considerable uncertainty around the viability of the sector in general, with almost a quarter of landlords saying they are worried about the future of the rental market.
Some 43 per cent of those questioned say better compensation should have been offered to those who lost rental income during the pandemic, while more than one in three believe that government should have provided financial support for tenants who were unable to pay their rent.
Buy to let investors are not universally pessimistic, however.
The study shows that 31 per cent are feeling positive about the future, and the majority - 59 per cent - still think that letting property is a worthwhile investment.
Alan Thomas, chief executive of Simply Business, comments: “Contributing over £16 billion annually in pre-tax spending, an exodus of smaller landlords from the buy-to-let market could have a devastating impact.”
“Insuring over 300,000 landlords has given us a unique insight into the impact of Covid-19 on this audience. And now more than ever – as the UK looks to recover from the effects of the pandemic – it's vital that we recognise their significant contribution to the economy, and the important role they play in providing safe and affordable housing in our towns and cities.”
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