- 13th March 2020
- Posted by: Suzy Hill
- Category: Personal Tax, Business News
Buy-to-let landlords getting cold feet over sector regulation
Buy-to-let landlords have turned negative on their investments due to higher taxes and greater regulation, according to research from property development firm Accumulate Capital.
The research found that 37% of UK property investors are planning on selling one or more of the residential properties they own in 2020.
Over half of landlords would not have purchased their properties in the first place had they known how regulated the industry would become, it added.
The research also found that 61% of those planning to sell said this was a response to the greater regulation and higher taxes they now face as buy-to-let investors. In addition, 72% consider current taxes and regulations to be unfairly weighted against landlords.
Meanwhile, over two thirds of landlords say the costs of managing their property portfolio have risen considerably over the past five years.
Commenting on the research, Paul Howells, Chief Executive of Accumulate Capital, said: ‘Property investors are clearly frustrated by how much red tape there now is within the private rental sector and buy-to-let market.
‘Yes, there is a need for regulatory measures to protect the interests of all parties involved in the property market, but as our research shows, some landlords feel the current system is unfairly weighted against them.’