Rising costs are making the rental sector a less attractive investment proposition for three-fifths (61%) of landlords, according to new data from Yorkshire Building Society (YBS).
Buying a home in the UK is harder than it has been for over a century, noted YBS’ ‘Home Truths’ report, stating that this was impacting landlords and their tenants.
However, many private landlords are still committed to doing their bit to stem the shortfall of housing, with two-thirds (66%) intending to stick around for at least five years.
Almost two-fifths (38%) believe the government should do more to support the rental sector in light of changes to regulation and taxation, which are making it harder for them to operate profitably.
Ben Merritt, director of mortgages at YBS, said: “Ground-breaking modern solutions are needed from lenders like ourselves and other industry stakeholders, including the government, to ensure the mortgage and housing markets continue to meet the needs of current and future generations.
“We’ll continue to do our bit to support their efforts by looking for more ways to help borrowers overcome this historically challenging time.”
