Over half (52%) of buy-to-let (BTL) landlords intend to purchase new properties within the next 12 months, Landbay research has found.

The BTL lender’s survey of approximately 3,000 landlords, which was conducted in May, comes after 27% said they planned to expand their portfolio following last year’s Autumn Budget, which increased stamp duty on additional investment properties.

Almost two thirds (64%) of those landlords intending to buy in the next year said they would factor the stamp duty increase into their negotiations, while 52% intend to purchase homes that require little to no modification to meet future EPC deadlines.

On average, landlords plan to buy three more rental properties in this period, although Landbay noted that some respondents are looking to buy as many as 10 or more properties in the year.

The biggest proportion of those looking to buy were landlords with rental properties in the South East (25%), followed by London and the North West.

Sales and distribution director at Landbay, Rob Stanton, said it was "fantastic to see many landlords are still looking at the opportunities", despite obstacles within the market.

He concluded: "Whether it be high tenant demand, strong rental yields or viable investment opportunities up and down the country, landlords are setting their sights on growing their portfolios – which is fantastic news for the one-in-five households that rely on the private rented sector.

"BTL lenders – including Landbay – continue to demonstrate that they are ready and willing to lend to support landlords and their ambitions. Furthermore, the sector is supported by tremendous advisers who are well placed to help landlords of all sizes to identify growth areas and navigate both their local market and the wider sector amid changing policy, legislation and economic conditions. Continued innovation from lenders and expertise from advisers is the winning combination landlords need to expand with confidence."

---