MORE than half the country’s landlords want to buy more properties over the next few months, a new survey shows.
Mortgages for Business said 60 per cent of landlords plan to increase their property portfolios over the next six months, suggesting that the rest of the year will see further expansion for Britain’s buy-to-let market.
A total of 45 per cent are considering a remortgage.
The research also established that landlords favour five-year fixed deals with 95 per cent having borrowed on the properties they already own.
The broker’s managing director, David Whittaker, said landlords seemed to be taking advantage of the low buy-to-let mortgage rates by seeking to build up portfolios containing a variety of property types.
He said the strategy to diversify could pay off by protecting investors against interest rate increases in the future.
Less than one in 20 (three per cent) of the landlords surveyed said they were planning to reduce their property portfolio in the next six months — a proportion which has halved since November last year.
Just over a third (34 per cent) of those polled said they favoured five-year fixed rate mortgage products the most.
Zoe Rose, Head of London Lettings at Strutt & Parker, said: “We have already enjoyed an increase in the number of properties to let in recent months following a boost in investment from buy-to-let landlords.
“More investment is always a positive thing in our marketplace. It gives prospective tenants more choice and creates competition so that landlords have to improve and maintain the interior specifications of their properties.
“This improves overall standards which is a good thing for tenants.”