Most landlords not selling yet
Two in three buy-to-let landlords have no plans to sell any of their properties in the upcoming year, new research1 has revealed. While the new Renters Reform Bill had led some to predict a selling spree, it seems most are holding onto their investments – for now. Those with a single property (75%) and those with two or three (69%) are most likely to hold onto all their properties. In a turbulent market, rising interest rates are the main motivation for six in 10 landlords who intend to sell, a 15% jump on the previous survey. Nearly half claim that the rent they charge no longer covers their mortgage costs.
Majority experiencing transaction delays
More than half of people selling a property in the last year experienced delays, a survey2 has shown, with one in five seeing their transaction collapse. For more than six in 10 sellers, moving home within their timeline was an important factor when entering the market. Almost four in 10, meanwhile, believed that the requirement to provide information on their property at various points during the process contributed to the delay.
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments