The Residential Landlords Association (RLA) is standing by figures released last week about the number of landlords selling properties due to buy-to-let tax changes.
Last week, the RLA said that 25% of buy-to-let landlords were selling homes as a result of government tax changes.
However, a North East-based lettings agent has alleged that the figures were inaccurate and, according to them, the landlords they worked with were not thinking of selling up.
The RLA revealed that almost a thousand landlords took part in its survey and 25% had either sold or were selling at least one property.
Alan Ward, chairman of the RLA, said he was delighted to hear things in the North East were going well for landlords, but stood by the research.
“I would reiterate that the RLA does not rely on such anecdotal evidence to make claims about the state of the sector, but solid, robust evidence provided by our members themselves and collected using recognised research methodology in-line with the UK Research Integrity Office’s Code of Practice for Research.”
The RLA’s research also revealed that 68% of landlords said the changes to mortgage interest relief –whereby they are taxed on income rather than profit – would reduce their profitability by at least 20%.
The RLA was hoping that its data will lead to Philip Hammond reversing the decision to change mortgage interest relief and landlord tax in his Autumn Statement last week.
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