"Another tough Budget for landlords and property investors"

Hugo Davies, chief capital officer and managing director for mortgages at LendInvest: “This is another tough Budget for landlords and property investors, with higher taxes on rental income, capital gains and pension contributions.

“It will squeeze returns for many smaller, individual landlords. But it will also accelerate a trend we’ve seen for years: the shift toward larger, professionalised BTL operators and portfolio landlords, whose structures are far more resilient to government tax changes.”