Don’t worry, landlords! The upcoming election won’t send your buy-to-let empire crashing down, according to new research from Zero Deposit.
82% of landlords have kept their buy-to-let portfolios the same size, despite a barrage of changes from the Conservative government. These include tweaks to mortgage tax relief, heftier stamp duty on additional homes, and the controversial Renters (Reform) Bill.
Renters’ Reform – Still Up in the Air
The Renters (Reform) Bill, which would abolish the ‘no-fault’ eviction system (Section 21), is now on hold thanks to the election. While it could return under the Tories, Labour has also said it will review the bill. But only 27% of landlords think it’ll be scrapped altogether.
The Conservative Factor
It seems the Conservatives haven’t been the landlords’ best friends, despite their traditional image. Even with profitability squeezed, the majority of landlords are keeping their portfolios as is. Sam Reynolds, CEO of Zero Deposit, says “they’re unfazed by a potential change of party”.
Labour’s Plans – A Mixed Bag
If Labour wins, 78% of landlords plan to keep their portfolios the same size. But 19% are considering downsizing under Labour rule, double the number who would do so if the Tories stay in power.
Landlords’ Top Labour Concerns
Landlords are most worried about Labour’s plan to get rid of Section 21 evictions. Other unpopular policies include:
- Automatic right for tenants to own pets
- Compulsory EPC improvements
- Four-month notice periods
The Verdict
Despite some grumbles, it looks like the election won’t trigger a mass sell-off of buy-to-let properties. Landlords are used to change and seem pretty confident about dealing with whatever the future holds.