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\r\n\r\n\r\nFollowing a disappointing spring statement for the buy-to-let sector, the latest test of landlord sentiment by lettings and estate agent, Benham and Reeves, has found that not only were half disappointed that a reintroduction of mortgage tax relief didn\u2019t come to fruition, but one in 10 now plan to exit the sector as a result.<\/p>\r\n\r\n\r\n\r\n
The survey of UK landlords commissioned by Benham and Reeves found that 49% were disappointed that whisperings of a potential reintroduction of mortgage relief were unfortunately just that and the government didn\u2019t decide to u-turn on the subject in last week\u2019s spring statement. <\/p>\r\n\r\n\r\n\r\n
It was hoped that the government would throw the buy-to-let sector a bone following a string of legislative changes that have caused many to exit the sector and 71% of those surveyed by Benham and Reeves stated that they would have also liked to have seen some other form of incentive announced. <\/p>\r\n\r\n\r\n\r\n
12% of landlords also revealed that they had planned to increase the size of their portfolio but will not refrain, while a further 6% will still push on with their plans to expand their investment.<\/p>\r\n\r\n\r\n\r\n
However, 10% stated that they will now reduce the size of their portfolio due to a lack of support from the government, with an additional 8% already having planned to do so. <\/p>\r\n\r\n\r\n\r\n
What\u2019s more, one in 10 also stated that they plan to exit the sector due to a lack of government incentives to remain, while 7%, again, had already planned to exit prior to the spring statement. <\/p>\r\n\r\n\r\n\r\n
So where are those who exit planning to place their money? <\/p>\r\n\r\n\r\n\r\n
Stocks and shares ranked as the most prominent buy-to-let alternative, with premium bonds, bonds, commodities and classic cars also rank amongst the most popular alternative investment avenues. <\/p>\r\n\r\n\r\n\r\n
\u201cThe government has been waging war on buy-to-let investors for quite some time now and many within the sector were hoping that the spring statement would finally see them thrown a sugar lump, rather than shown the stick. <\/p>\r\n\r\n\r\n\r\n
Unfortunately this failed to materialise, but while disappointing, the majority of landlords remain unfazed and, let\u2019s face it, unsurprised. Although they have no plans to increase the size of their portfolio, they also won\u2019t be reducing it. <\/p>\r\n\r\n\r\n\r\n
However, one in ten have had enough and with the government failing to incentivize them in any way, they are reducing their portfolios and exiting the sector. With some 2.74m landlords currently operating within the sector with around two properties per landlord, that\u2019s a potential reduction of over half a million rental homes.<\/p>\r\n\r\n\r\n
This is, of course, bad news for the nation\u2019s tenants, who will be left with even less choice when it comes to quality accommodation and an even higher commitment when it comes to the cost of renting.<\/p>\r\n\r\n\r\n
| \r\n It was expected that the government was going to reintroduce mortgage tax relief within this week\u2019s spring statement. Were you disappointed to see that this didn\u2019t materialise?\r\n <\/th>\r\n <\/tr>\r\n | ||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Answer<\/th>\r\n | Respondents<\/th>\r\n <\/tr>\r\n | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Yes<\/td>\r\n | 49%<\/td>\r\n <\/tr>\r\n | |||||||||||||||||||||||||||||||||||||||||||||||||||
| No<\/td>\r\n | 51%<\/td>\r\n <\/tr>\r\n <\/tbody>\r\n <\/table>\r\n<\/div>\r\n\r\n \r\n
|