Landlords continue to expand portfolios

It is very clear to us that all the recent unwelcome news regarding Covid-19of has not dampened most landlord’s enthusiasm. In fact, a recent poll showed that one in six landlords are looking to increase their portfolios within the next 12 months.

The poll also showed over 50% of landlords have or are considering incorporating their properties to protect long term profitability and tax efficiency.

The demand for good quality rental property seems to increase monthly, a local estate agent in the South East said, “if the rental property is in good condition it won’t be on the market for long, especially if its 2 or 3 bedroomed and reasonably priced”.

Mortgage and re-mortgage business in this area is highly active with investors in the main looking to re-mortgage to fix a rate for the longer term.

The choice of buy-to-let mortgages is vast and still every week we are seeing new products coming onto the market, especially in the corporate sector.

Landlords with single or multiple properties could well see this as a particularly good time to completely review their portfolio and mortgage plans.

This could very well be the end of the “cheap mortgage” deal for the foreseeable future.

Fixing a deal for the medium to long term now could assist with financial planning and profitability in the future and should be given very careful consideration.

If you wish to review your current or future mortgage planning do call one of our fully qualified independent advisers. We look forward to helping you.