Government policy provokes high rise in landlords looking to sell property.
The National Landlords Association (NLA) claim the amount of landlords looking to sell property has quadrupled since last year’s budget.
Policy is blamed as the primary cause, with landlords confidence takes a hit due to Government changes.
Research by NLA shows, just 4 % had plans to sell when surveyed prior to last year’s budget, this figure rose to 19% according to a survey taken in January. The 15% increase is the highest across the UK over the last 6months.
The restriction to mortgage interest relief for individual residential landlords – announced during last year’s Summer Budget – will leave many landlords worse off, forcing some basic rate tax payers into a higher tax bracket and leaving higher and additional-rate payers with considerably bigger tax bills, the NLA said.
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