Landlords! Are you selling your investment?

Landlords consider selling up as interest rates begin to bite.

Rising interest rates and future changes to the rules for buy-to-let landlords has seen an increase in the number of landlords selling their investment properties says the latest report from the Royal Institution for Chartered Surveyors (RICS). Many landlords have seen their mortgage repayments skyrocket over the last few months bringing down the profitability of their investments. Some of these landlords may have owned these properties for several years and are now cashing in their investments to provide a pension. Others are said to have been unnerved with the Renters Reform Bill currently making its way through parliament which is proposing to abolish the right to evict tenants with no justification in England although landlords will have more powers to remove anti-social tenants with only two weeks’ notice.

RICS also reports that there has been a decline in the level of interest from new UK based buy-to-let investors over the past six months, while 30% also cite a decline in interest from overseas buy-to-let investors. With all this contributing to the continued mismatch between rising demand and falling supply, rental prices are expected to rise over the near term. Moreover, rental price growth is now expected to average just shy of 6% per annum over the course of the next five years.

Other research by Cornerstone Tax shows that 1 in 5 landlords say they went into the business without the sufficient knowledge needed and have lost thousands as a result. If you are thinking of becoming a landlord, we’ll make sure that the rental process is as easy as possible and answer any questions you have. We offer a rental collection and full management service for the hands-off experience.

 

Request a free valuation today and get your sale underway.

 

Arins - selling & letting homes in Wokingham, Lower Earley, Tilehurst, Reading and Winnersh since 2009.

 

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