Landlords seeking increase to property portfolios despite COVID-19

The number of landlords looking to increase the number of properties they own has jumped by 71%, according to research commissioned by The Mortgage Lender.

The research also indicated that three in 10 landlords see the COVID-19 pandemic as an opportunity.

The Mortgage Lender’s study, conducted among a panel of 100 landlords by OnePoll in July this year, revealed that 19% of landlords intend to increase their portfolios over the next 12 months compared to 12% who were looking to add buy-to-let (BTL) properties in April last year.

Even though 35% of landlords indicated they see COVID-19 as a problem, it has made no difference to the investment plans of half of investors, while 25% said it had changed their plans somewhat, and the remaining 25% said it had changed their plans completely.

Overall, the research also showed that the number of landlords seeking to reduce the number of properties they own has dropped from 16% in April last year to 14%, while those looking to maintain has also fallen from 72% to 67%, with the resulting 7% difference accounting for the uptick in landlords who want to expand their portfolios.

The Mortgage Lender sales director, Steve Griffiths, commented: “We’ve seen the evidence in our own application figures that many landlords see COVID-19 as a blip rather than a reason to change their long-term plans and our research bears this out.

“And it’s important for those landlords and their brokers that there is a competitive specialist market for their business that comes with strong financial backing.

“With a strong funding line, we have been able to operate in the buy to let market throughout the pandemic and help those landlords who want to capitalise on what they see as an opportunity.”

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