Property investors still looking to expand portfolios

Property investors still looking to expand portfolios

A new survey from Mortgage for Business’ Property Investor has revealed that, despite all the current political and economic uncertainty and the government’s buy-to-let clampdown, around 48% of property investors are still looking to expand their portfolios.

So, although there have been significant restrictions on mortgage tax relief and 3% stamp duty surcharge imposed, more landlords than those surveyed last year (41%) said they still want to expand their portfolios which is promising news.

In the same survey, just over 60% of property investors said they had proactively consulted tax advisers to help them deal with the changing buy-to-let environment and to minimise impact.

In addition, investors have increasingly opted for fixing their buy-to-let mortgages for five years rather than the normally more popular three. Around 42% of landlords are going for the longer fix.

Chief Operating Officer of Mortgages for Business, Steve Olejnik, said: “Although we expect but-to-let lending to reduce somewhat this year, these results demonstrate that landlords are a resilient bunch, capable of adapting their investment strategies to successfully accommodate the new fiscal and regulatory landscape. Incorporation is becoming a standard practice and the move towards five year fixed rates allows landlords to maximise their borrowing options.”