Why Are Landlords Selling Up
Landlords are selling up because of the impact of interest rate rises and the government's proposed reforms to the rental sector. The reforms include indefinite tenancies and the end of section 21 evictions, which will make it harder for landlords to evict tenants. Landlords will also face higher capital gains tax when they sell their properties. These factors are reducing the supply and profitability of the lettings market .
Interest-rate rises and the end of tax relief are taking chunks out of landlords’ profits. Is there still money to be made?
So, why are landlords quitting the lettings market? Here’s everything you need to know. Official statistics show there were around 2.7 million landlords operating in the UK in the 2020/21 financial year. But there is no definitive, up-to-date statistic .
Buy-to-let mortgages of over 6 per cent are denting many landlords' profitability - and many are set to sell up as a result .
Here is a list of website addresses that discuss Why Are Landlords Selling Up:
1. https://www.bbc.co.uk/news/business-65833840
2. https://www.thetimes.co.uk/article/heres-why-landlords-are-selling-up-fj6qpw20p
3. https://www.msn.com/en-gb/money/other/why-are-landlords-selling-up-in-the-uk-drop-in-houses-to-rent-explained-amid-housing-crisis/ar-AA1cACuN
4. https://inews.co.uk/inews-lifestyle/money/property-and-mortgages/small-time-buy-to-let-landlords-sell-mortgage-rates-increase-2411221
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