Vast majority of landlords who voted Labour now regretful
Four out of five landlords who voted for Labour at the last election would not do so again, says Landbay director Rob Stanton.
The vast majority of landlords who voted Labour during the most recent general election are now regretting their support for the party following the recent rise in stamp duty for buy-to-let properties, says BTL mortgage firm Landbay.
Just 19% of landlords voted for Labour, but that was up from 12% in the previous election, and 63% of those that did are unhappy with the Government’s policies for the housing market, the firm’s research has found.
Where is the incentive to invest?”
While conducting the survey, one landlord told Landbay: “Where is the incentive to invest? Who will take up the displaced tenants when private landlords, most of whom only have two or three properties, dispose of their properties?”
Another was at least a little more positive: “I shan’t stop buying properties, but how and what kind remains to be seen.”
Frustrates and upsets
According to Landbay the issue that frustrates and upsets Landlords the most is being tarred with the same brush as ‘rogue landlords’ and they said that kind of attitude ‘damaged their confidence’ in the future of the sector.
Stanton says: “We are finding that, while some disaffected landlords are sitting on their hands, others are exploring investment opportunities across the country.
“There is always a place for decent, sensibly priced rental properties. What the buy-to-let sector really needs now is a confidence boost.
“With encouragement and support, the sector can continue to play an important role in helping solve the housing crisis.
“As a buy-to-let lender, we remain committed to doing our bit to help, innovating to meet the needs of landlords.”
