Changes to the rules on tenancy and tax reliefs mean financial pressures are mounting for buy-to-let landlords, explains David Freedman, director at Lawrence Stephens
The near twenty percent collapse in buy-to-let purchases during the final quarter of 2022 came as no surprise, given the perfect storm of challenges affecting landlords. Already burdened by years of extra costs since former Chancellor George Osborne’s reforms to the sector in 2015, soaring interest rates last year added further pressure to landlords’ finances and acted as yet another deterrent to potential landlords considering entering the private rental sector.
The impending implementation of the Renters Reform Bill (RRB) adds more fuel to an already raging fire, with landlords especially concerned about the Bill’s removal of landlords’ rights when it comes to evicting problem tenants.
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