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SHOCK: 30% of landlords looking to sell 'some properties' says big broker

for sale to let|paul brett landbay

New data reveals the extent of the landlord exodus prompted by the current mortgage rate surge with 36% of landlords polled revealing they plan to sell a property over the next 12 months.

The proportion intending to sell '�some properties' was at 30%, up from 28% the last time the survey was conducted by BTL lender Landbay.

It found that the desire to sell was weakest among individual private landlords who are most likely to be depending on their properties for a future pension (25%) but strongest among those with both small and large portfolios.

Some 6% plan to sell all their properties with respondents split across small, medium and large landlords.

Interest rates

The deciding factor for 60% of landlords intending to sell is rising interest rates '� an increase from 45% in the previous survey, while almost half (45%) said rent doesn't cover their mortgage costs '� up from 28% in the Q4 2022 survey.

Respondents also mentioned landlord taxation (47%), the cost of meeting the proposed EPC requirements (40%) and worries about evicting tenants (34%).

The findings form part of Landbay's latest quarterly survey which aims to find out the attitudes and intentions of existing landlords.


paul brett landbay

Paul Brett (pictured), Landbay's managing director, intermediaries, is keen to put a brave face on the figures: 'While it's certainly the case that some landlords are trimming their portfolios in the current climate, our latest data demonstrates that the majority are not looking to make any cuts at all.

'This is positive news for the wider housing market which is so reliant on rental supply.

'For those considering selling, we'd always say it's worth their time speaking with a broker to find out what is their best possible move, especially when there's lenders like us willing to innovate and find solutions to support landlords in all situations.'�


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