Nearly two thirds (64%) of buy-to-let (BTL) landlords have stated that they are not planning on selling any of their properties in the next 12 months, the latest research from Landbay has found.

In its quarterly survey, the company found that this sentiment was stronger with landlords with individual properties (75%) and those with two or three properties (69%). However, a similar proportion of landlords with more than 20 properties (65%) shared the same intention.

The survey is conducted to find out the attitudes and intentions of existing landlords, with respondents being quizzed on a range of topics to determine the key factors facing the sector and their thoughts on the future of the BTL market.

Despite the sentiment to not sell properties, the number of landlords expecting to sell some properties increased slightly to 30%, up from 28% in a previous survey.

Furthermore, only 6% plan on selling all their properties with respondents split across small, medium and large landlords.

The deciding factor for 60% of landlords intending to sell is rising interest rates, a rise from 45% in a previous survey. Nearly half (45%) say that rent doesn’t cover their mortgage costs, which is up from 28% in the Q4 2022 survey.

Respondents also mentioned that landlord taxation (47%), the cost of meeting the proposed EPC requirements (40%) and worries about evicting tenants (34%) as their reasons for wanting to sell.

Landbay managing director for intermediaries, Paul Brett, said: “While it’s certainly the case that some landlords are trimming their portfolios in the current climate, our latest data demonstrates that the majority are not looking to make any cuts at all. This is positive news for the wider housing market which is so reliant on rental supply. After all, one-in-five houses in England and Wales depend on the private rented sector for housing.

“As a specialist BTL lender, we are always looking at ways to innovate to not only support buyers, but those landlords set to remortgage. With high levels of maturity in the BTL market this year, there will be many weighing up their options in a higher interest environment.

“For those considering selling, we’d always say it’s worth their time speaking with a broker to find out what is their best possible move, especially when there’s lenders like us willing to innovate and find solutions to support landlords in all situations.”

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