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Number of UK landlords continues to fall.

  • Number of UK landlords continues to fall.

    The number of private landlords in the UK has fallen over the last two years, according to new figures published by Countrywide, despite the number of rented properties rising.

    The report shows that the number of landlords renting out properties in the UK peaked in 2015 at 3.72 million. At this time, however, there were 171,000 fewer homes available to rent compared to today.

    There are now just over 154,000 fewer landlords, 3.56 million in total, but the number of homes currently being rented has increased from 4.9 million in 2015 to 5.1 million today.

    The research points to a change in the structure of the private rented sector in Britain, with fewer small landlords owning one or two additional properties and more corporate and portfolio landlords.

    According to the research conducted by Countrywide, the number of landlords who own ten or more properties has risen by a third over the last ten years.

    The changes in the structure of the UK rental market in recent years coincide with changes to the tax and regulatory system faced by buy to let investors.

    The introduction of Section 24, which phases out mortgage interest tax relief for private landlords, the hike in Stamp Duty and the cap on tenants’ deposits, along with tough new lending conditions being introduced by the Prudential Regulation Authority have all hit landlords’ finances and made it harder for them to borrow.

    Commenting on the findings, Johnny Morris, Research Director at Countrywide, said; “The increasing number of rented homes is being driven by landlords expanding their portfolios rather than new landlords entering the market. 

    “Increasing regulation in the sector accompanied by recent changes to income tax relief on mortgage interest payments seem to be favouring more experienced, professional landlords. 

    “Despite expanding portfolio sizes the sector is still characterised by those owning just one or two homes, 73% of landlords own one home.”

    How can we help you?

    If you’re a landlord struggling with negative equity, underperforming properties or the impact of recent tax changes, contact Landlord Debt Advisory for an initial free, no obligation consultation.

    After we resolved his case, one of our recent clients said; “We contacted Landlord Debt Advisory as a buy to let property purchased in the housing boom left us with negative equity.

    “They dealt with our case very professionally and efficiently from start to finish. They had an in depth knowledge of what options were available to us and provided us with advice on the best option to take.

    “They dealt directly with the lender and provided us with regular updates on the progress of the case. We got a great result in the end which has alleviated a lot of stress caused by being in negative equity.”

    Check out our reviews and all us on 0161 222 4311, or go to our website and start the process of dealing with your debt.