A new survey has found that the majority of landlords who voted Labour in the May general election say they wouldn’t do it again.
Buy-to-lender Landbay revealed that 80% of those who voted Labour wouldn’t vote the same way again if they had known that the Chancellor would increase Stamp Duty on second homes and investment properties.
19% of landlords reported that they had voted Labour, a 7% rise on the 12% who said they had intended to vote Labour in Landbay’s last survey in the spring.
POLICY VERDICT
63% of all landlords said they were unimpressed with the government’s housing market policies so far.
A landlord told Landbay: “Where is the incentive to invest? Who will take up the displaced tenants when private landlords, most of whom only have two or three properties, dispose of their properties?”
One landlord commented: “I shan’t stop buying properties, but how and what kind remains to be seen.”
Another said: “It feels like typical landlord bashing from a Labour government.”
“What the buy-to-let sector really needs now is a confidence boost. With encouragement and support, the sector can continue to play an important role in helping solve the housing crisis”
Rob Stanton, sales and distribution director at Landbay, said: “Good landlords far outweigh the bad and the rental market is remarkably robust and thriving. Demand continues to outstrip supply with many tenants ready and willing to rent across the country. As long as house prices are high, affordability will remain a real challenge for residential buyers.
“At Landbay, we are finding that, while some disaffected landlords are sitting on their hands, others are exploring investment opportunities across the country. There is always a place for decent, sensibly priced rental properties.
“What the buy-to-let sector really needs now is a confidence boost. With encouragement and support, the sector can continue to play an important role in helping solve the housing crisis. As a buy-to-let lender we remain committed to doing our bit to help, innovating to meet the needs of landlords.”
Last week Landbay announced rate reductions across its fixed rate product range, with rates falling by as much as 0.20%.
