Most landlords will not be selling their BTL properties

What on earth is one meant to make of such statistics? 64% are not planning to sell, so presumably 36% are planning or are unsure. It is hard to contemplate what the effect would be of 36% of BTL properties coming onto the market in the next 12 months. What number of properties typically change hands in any given year?
The fact that 64% of landlords are not planning to sell does not on its own mean "This is positive news for the wider housing market which is so reliant on rental supply" . With high tenant demand it only takes a small percentage of properties being taken out of the rental market to exacerbate the housing shortage.

Well even those the HMRC know about number 2.74 million, so 36% of those is just under a million landlords. If we extend it to 36% of rental properties, it's 1.8 million. Sounds like mass homelessness to me.

Most wont, I won't sell my remaining 6 (used to have 18) until my tenants leave, then I will (and I don't have a mortgage). However enough will sell to make a difference to the already tight housing supply. Landlord mortgages have been excluded from the latest government 'help' (if you can call it that), and anyone with a BTL mortgage that isn't fixed (or has had to remortgage recently) can't be making anything.

Reply to the comment left by GlanACC at 17/07/2023 - 12:15
like you say those with BTL will surely be the first to 'fold' as financially it is unsustainable, when there is no end in sight and these LL may be paying their own increased mortgage.

Others may have it forced upon them - tenants failing to pay the rent as is that will be the undoing and ultimate reason for sell up (costs of this cannot be made up for by reletting at a higher rent). Some may be put off my the whole possession/rent arrears trauma and decide to vote with their feet (cant blame them)

For the rest it may the the RRA, loss of S21 and the (now seemingly more distant?) threat of EPC implications that may prove the straw that breaks the LL's back.

Either way, if its a flood or trickle..the sector is certainly NOT going to be seen by many as 'attractive', and that's ironic, considering the release of MORE property is actually what is required yet the government have no intention themselves of increasing this.

Reply to the comment left by DSR at 17/07/2023 - 13:16
In my case, its the EPC costs that I am unsure about as I have two properties of E rating because they are electric. I may have to go down the solar panel route as the tenants would not allow massive internal changes due to the disruption.

This article is biased towards the interests of the authors as are many articles that appear on these pages . Landbay make their living out of financing in the BTL market. They have a vested interest in talking the situation up as a shrinking market for BTL finance products is bad news for them. If they did support the actual situation it would be like Turkeys voting for Christmas!

Reply to the comment left by northern landlord at 17/07/2023 - 19:02
Absolutely true. As I drive around my estate you can see the forest of for sale signs that used to be rental properties. My gas service chap has said he has lost about 15 properties this year so far, might not seem a lot but it all adds up.

It is reported 63% of buy to let property is owned outright. These LL's prospered and tenants benefitted under low rates and can now enjoy higher rents, but even they may notice cash in the bank can pay 5% interest and hassel free. So some LL who have deeper pockets and have done well may be tempted to sell. As for new landlords who are coming off fixed rates. Well they are forced to sell or be repossessed, they are being attacked and discriminated against compared to others, they are expected to pay more so the banks can give their money to savers and give extra to the banks who can grow profits. The Bank of England recklessly scrapped it's affordability rules in Aug 22. These tested to ensure a mortgage payer could afford a 3% hike. No wonder the BoE scrapped it's own rules it has put up rates 4.9% since Dec 2021, so tracker rates have already increased 66% more than bank affordability rules.

The Bank of England has allowed mortgage providers to pass on rates which it knew were unaffordable and which the BoE own policy created. #NotOK

Reply to the comment left by GlanACC at 17/07/2023 - 14:57
If this is the less costly route then you are well within your rights to assert them and give adequate notice to tenants about the disruption. If THEY do not want the disturbance get it in writing and apply for an exemption. That will mean you do not have to carry out the works until a change of tenancy or reapply again after 5 years.

If you explain the cost of this, plus the rent increase that will inevitably follow you will have most tenants happy to sign something to that effect.

Reply to the comment left by DSR at 18/07/2023 - 09:39
Already had this coversation with my tenants, As I am charging about £50 a month below the rent for the area they are more than happy to write me a letter refusing access inside the property. I have already done loft insulation and double glazing so not much more can be done inside without severe disruption. I an happy to install solar panels as can get these done for arounf £7k .. however wont do this until the bill has become law as possible EPC rating may be lowered to a D - also lets hope some of the tenants leave (not much prospect of that though) and I can sell - I won't be asking them to leave . One guy and his family have been with me for 20 years