Next year, according to Greycoat real estate agency experts, at least three out of ten buy-to-let landlords will purchase property. This was a finding from a survey carried out by the Landbay mortgage. 38% of the landlords say it is because of the increasing number of tenants, while 34% of them want to take advantage of the drop in houses.
Amazingly, 78% of them say it is because they are extending their portfolio. Up to now, among these majority, 44% of them already have more than 11 assets while at least 26% of them own 4 to 10 properties. As the Greycoat real estate agency experts recall, the smaller landlords with 1 to 3 properties are also looking forward to buying more.
Currently, approximately 46% of the landlords in the East of England and Midlands are planning to purchase more property in the next one year. According to Greycoat, only 25% of the landlords are unsure of their future plans while some affirm they will purchase in case of available opportunities.
Lack of funds, the reform bill (renters), and the high cost of interest rates are some of the reasons why 43% of the landlords are not looking forward to buying property, the reliable and successful Greycoat real estate agents share (Bmmagazine).
Despite all these pressures, there is more enthusiasm for landlords to buy more property in the future and that is why they are expanding their portfolios. They are alert to take advantage of any landlord currently active who is willing to sell or any luck that comes with drop in houses. The high interest rates could be the real turn off for most landlords. However, Greycoat real estate agency finally states, this does not apply to all of them as some use this chance to grab property against all odds.