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TODAY'S OTHER NEWS

More threats that buy to let investors may quit private rental sector

Around a fifth of investors plan to sell their buy to let properties this year, thanks to the recent measures against the rental sector announced by Chancellor George Osborne. 

Research by property crowdfunding site The House Crowd shows that 72 per cent of investors claim the changes - over mortgage interest tax relief, wear and tear payments and stamp duty on BTL purchases - will have a negative effect on their investments. 

Previously viewing their investments as a solid base for sensible financial plans for the future, property investors are concerned that they are being increasingly targeted by legal changes like the Mortgage Credit Directive which is considered likely to make it harder to obtain BTL mortgages. 

Around half of all BTL investors now say their plans for a secure retirement are at risk, with a third claiming it will now be harder to support children and grandchildren to get on the property ladder, or to contribute to university fees.

Unsurprisingly, the survey reveals that investors with a smaller number of properties are most hard-pressed. Forty three per cent feel that the government is trying to squeeze out smaller landlords while protecting wealthy landlords with many properties.

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