The latest Property118 Landlord Sentiment Survey suggests that many landlords are planning to sell property. Over two-thirds of those surveyed expect to sell some or all of their portfolio in the next three years, and the number planning to leave the sector completely is increasing.
The survey also found that over a third of landlords anticipate remortgaging within the next 12 months. Many of these are moving from fixed rates agreed before 2022 to significantly higher repayments. Additionally, more than nine in ten landlords no longer believe property values will outperform inflation, which could lead to stagnated or lower values over time.
For landlords considering selling, particularly those with mortgages on their properties, the process of evicting tenants before a sale can involve 6 to 12 months of costs without rental income. Property118 advises that if selling is a long-term plan, landlords should not wait until rent stops before deciding how to proceed.