Stock market turmoil drives investors to buy to let
A study of 200 landlords with fewer than 10 properties from the Bank of Ireland suggests almost 70% of British homeowners believe that BTL will outperform other forms of investment over the long term.
Despite the Chancellor’s announcement that he is to cut tax relief for buy to let landlords, 73% of landlords said the incoming changes would not affect their attitude towards property investment, although the impact of the changes haven’t fed through yet, with the cuts starting in April 2017.
This positive sentiment toward property investments is also felt by British homeowners with almost half of respondents saying that they would be interested in becoming a buy-to-let landlord in the next two years if they could afford it.
For the sixth survey in a row, Londoners have been shown to be the most property-hungry, with over 66% saying that they would be interested in becoming a landlord. The lowest levels of interest were seen in Scotland and the North.
Mark Howell, director of marketing and customer management, Bank of Ireland UK Mortgages said: “This sixth wave of our quarterly survey has shown that confidence in the market remains robust, despite news stories in the press which might have suggested otherwise.
“It is a sign of the current economic climate that many are seeing BTL as a prime investment – and that they believe it will outperform all other forms of investments.”