Many landlords have reviewed their portfolio sizes and increased rents in response to the ongoing political uncertainty in the UK.
The latest research by Foundation Home Loans revealed that over a third (38%) of UK landlords said they had reviewed the size of their portfolios to ensure they
Jeff Knight, marketing director at Foundation Home Loans, said: “Landlords have been met with a raft of changes, from stamp duty charges to shifts in tax policy, and the lack of certainty on the political front has clouded the picture somewhat.”
A total of 30% of landlords have hiked rental prices, with the greatest proportion doing so in the East Midlands (41%).
A further 7% have sold off properties to either reduce portfolio sizes or diversity, rising to 19% for those holding 20 properties or more as PRA policy change approaches.
Knight added: “The fact remains that, whether it’s as a stepping stone to home ownership or a longer term lifestyle decision for tenants, the rental sector is an increasingly important part of the housing mix.”
Almost three quarters (71%) of landlords said they had experienced a drop in confidence, rising to 78% for those operating in central and outer London.