BTL boom sees FTB enquiries drop 3.7%

BTL boom sees FTB enquiries drop 3.7%

The latest research from comparethemarket has suggested that the buy-to-let market has "gained a chokehold" over first-time buyers, as many struggle to get out of rented accommodation and on to the housing ladder.

According to the analysis, the proportion of buy-to-let mortgage enquiries grew by 4.4% to 18.2% of all mortgage enquiries during 2015, while the proportion of enquiries for first-time buyers dropped by 3.7% annually to 23.5%.

During January, there were no signs of a reducing market, as the first month in 2016 showed year on year growth of over 16% and a 62% increase compared to December.

However, with the new stamp duty on buy-to-let purchases, comparethemarket says there is 'little expectation' that the number of BTL enquiries will outstrip the number of first-time buyer enquiries.


Yet the initial cut on tax relief did little to reduce the swelling of the buy-to-let market, with enquiries rising by 14% in the three months after the Chancellor made the announcement at the Summer Budget.

Jody Baker, Head of Money for comparethemarket.com, said: “The buy-to-let market has been subject to both extensive discussion and criticism over the past year with even the Bank of England’s Financial Policy Committee labelling it a risk to the UK’s financial stability. This data only reinforces the view that over the past year, families and others looking to get a foot on the housing ladder are being priced out by landlords. It was great to see the Government take action in the Autumn Statement but time will tell as to what the material impact will be on the market after 1 April.”

Join our mailing list:

Leave a comment



Latest Comments

Spencer Fortag
Spencer Fortag 30 Nov 2016

I am glad that someone listened to me!

view article
Tony Gimple
Tony Gimple 27 Nov 2016

It's not just the lack of estate agency advice that's costing landlords money; most are getting seriously bad advice from their accountants resulting in tax bills far higher than they need to be. Likewise,...

view article
Sally Walmsley
Sally Walmsley 18 Nov 2016

The RLA stands by its sell-off statistics. While we welcome the feedback from Mr Jagota and are delighted to hear how well things are going for landlords in the north east, we would like to make it clear...

view article
Sheryl87
Sheryl87 18 Nov 2016

The high employment levels and the vibrant economy has led to ever-increasing demand for rental properties, especially from professionals relocations from other cities. This has led to more experts teaming...

view article
Sheryl87
Sheryl87 18 Nov 2016

Renting out your house can be risky business. It's good to think about residential landlords insurance. Standard cover includes buildings cover and cover for loss of rent following damage to a property...

view article
AmberMorris
AmberMorris 09 Nov 2016

Fear of ghosts, really?? Ok, I get the fear of bats in the attic and mice and rats running under your nose - those are easy to deal with pest issues which are really unpleasant and can turn you off. But...

view article
AmberMorris
AmberMorris 08 Nov 2016

In my experience, It has always been a matter of discussion between the landlord and the tenant. There are cases when it's clear who's responsible for the pest control costs. I see a lot of people in forums...

view article
warren
warren 08 Nov 2016

There you go buddy :)

view article
Agent_PeeBee
Agent_PeeBee 07 Nov 2016

Any reason why my comment to this 'article' has not been published?

view article
Sean Lees
Sean Lees 04 Nov 2016

I don't think anyone can say dogs or cats are better or worse; depends on the animal, its age, how long it's left inside, etc. How bad the mess is depends somewhat on whether you are renting furniture...

view article
daniel black
daniel black 25 Oct 2016

I've been keeping a close eye on what the effect of Brexit has been on the rental market and it's a very mixed bag. Whilst the majority of the news focuses on London's market. I think this time next year...

view article
Northerner
Northerner 20 Oct 2016

Any views from outside the M25? No wonder politicians can't get the housing big picture when everyone seems to think that London is the yard stick, when it absolutely is not.

view article

Related stories

More articles from Landlords

Specialist Lending Roadshow 2017

24th-27th November

4 days
7 specialists
4 locations
Free to attend

Click here to register now