80% of brokers believe the North will become a BTL hotspot

The latest research from Legal & General Mortgage Club has suggested that the vast majority of brokers predict the North of England will become a landlord hotspot over the next 12 months.

Related topics:  Specialist Lending
Warren Lewis
23rd May 2017
BTL buy to let sign
"It is reassuring to see that confidence in this essential tenure remains as landlords respond and adapt to this new landscape"

Brokers who attended Legal & General Mortgage Club’s recent buy-to-let forum event were asked questions regarding the development of the buy-to-let market following the series of legislative changes that came into effect last year. As a result of the legislation, over two thirds of brokers (69%) predict that landlords will streamline their portfolios, selling properties with lower yields, and 45% believe that landlords will look to invest in university towns and student accommodation.

Jeremy Duncombe, Director, Legal & General Mortgage Club commented: “Over the past 12 months, the buy-to-let market has experienced a myriad of legislative changes. Today’s research from Legal & General Mortgage Club’s inaugural buy-to-let forum shows one of the impacts of these developments, with developers looking North for value. Landlords are resourceful, and this demonstrates the resilience of the market, despite many changes.
 
The last year has been a particularly challenging year for buy-to-let. The Stamp Duty hike, coupled with the changes to tax and the PRA legislation affecting landlords with four or more properties, has undoubtedly impacted the purchase market in particular. However, it is reassuring to see that confidence in this essential tenure remains as landlords respond and adapt to this new landscape.”

More like this
Latest from Property Reporter
Latest from Protection Reporter
CLOSE
Subscribe
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.