Renters leave London at highest rate in decade, research shows

[Martin@AS Financial]

Full story here:

https://www.bbc.co.uk/news/uk-england-london-64624412

To add a bit of detail to this report, making buy to let mortgages work in London has always been a bit of a struggle as rent has not kept up with property inflation. Traditionally the rent had to cover the mortgage by a certain threshold to allow for periods where the property is not tenanted.

A few years ago, there were some major changes in how the mortgage affordability was calculated and one of the ways more could be borrowed and less deposit put down on an investment property was to take a 5 year fixed rate. These I suspect will be coming to the end of the fixed period and if no action is taken, will revert to the banks standard variable rate which may be around the 7% mark.

With buy to let rates significantly higher than they were a few years ago as well as considerable tax changes, many landlords will be looking to increase the rent they charge.

[TheDude]

This seems to be inflating property prices in my particular armpit of of South Essex.

Landlords are booting out tenants and pimping flats at an unprecedented rate.

[Martin@AS Financial]

I suspect we may see a lot of landlords leave the rental sector this year due to the increase in BTL rates / tax changes and especially so if they are already higher rate tax payers.

Landlords call for tax review as ‘disinvestment’ plans rise

https://www.mortgagesolutions.co.uk/...nt-plans-rise/

[TheDude]

I suspect we may see a lot of landlords leave the rental sector this year due to the increase in BTL rates / tax changes and especially so if they are already higher rate tax payers.

Landlords call for tax review as ‘disinvestment’ plans rise

https://www.mortgagesolutions.co.uk/...nt-plans-rise/

Won't somebody please think of the Landlords.

[sadkingbilly]

Won't somebody please think of the Landlords.

F**k the landlords!

[vetran]

F**k the landlords!

some landlords may offer that service in exchange for cheaper rent though you would need someone pretty kinky in your case.

You know landlords provide a valuable service?

[sadkingbilly]

some landlords may offer that service in exchange for cheaper rent though you would need someone pretty kinky in your case.

You know landlords provide a valuable service?

oh, piss off you sanctimonious little fat twat.

[vetran]

oh, piss off you sanctimonious little fat twat.

ah yet again you come totally unarmed to a battle of wits!

[sadkingbilly]

ah yet again you come totally unarmed to a battle of wits!

or, in your case, - halfwits.

[ladymuck]

I do have some sympathy for landlords as it seems the only type of landlord HMG want is the large corporate rather than small investors who become landlords for a myriad of reasons. The bad ones need better enforcement action but that shouldn't be penalising to those who look after their properties and tenants. Unless you have little/no mortgage to service, I struggle to see how landlords cover their costs and make a profit.