Property investors fear Chancellor Rachel Reeves (main picture) will hit them hard in today’s Budget.
A survey of 500 buy-to-let landlords found that 77% are worried about tax rises such as an increase in Capital Gains Tax.
Reeves is due to deliver the Budget amid speculation that her tax announcements could leave landlords questioning their property investments.
Apprehensive
Seven in 10 landlords also said they were apprehensive about the Government’s plans to abolish Section 21 ‘no-fault’ evictions in the Renters’ Rights Bill, and its possible impact on their ability to manage tenants effectively.
Meanwhile, a very similar number were worried about the potential introduction of higher energy efficiency standards for rental properties, according to the research from Butterfield Mortgages.
Energy Secretary Ed Miliband has said landlords must ensure their rentals meet a minimum EPC C rating by 2030.
The analysis found that landlords are seeking more assistance from lenders and brokers in order to understand new reforms and policies ahead of the Budget.
Landlords are understandably wary of the implications.”
Alpa Bhakta, CEO of Butterfield Mortgages, says: “With the Autumn Budget just around the corner, it is clear that landlords are keenly waiting to see what the Chancellor announces.
“There has been a significant amount of tax and regulatory change in the BTL market over the past decade, and there’s plenty of speculation that more is coming – landlords are understandably wary of the implications.”