Property professionals set to expand despite challenges - Maras
A third of UK property professionals plan to expand their portfolios in 2018 despite a backdrop of increased challenges in the buy-to-let sector.
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Property professionals set to expand despite challenges

A third of UK property professionals plan to expand their portfolios in 2018 despite a backdrop of increased challenges in the buy-to-let sector.

 

A survey by bridging finance lender MTF found that 33 per cent planned to increase their portfolios, while 50 per cent said they planned no changes in 2018.

 

No-one questioned planned to reduce their exposure to the UK property market.

 

Of the 33 per cent looking to expand, most were looking to buy in the South East, with substantially fewer considering purchasing in London.

 

MTF says the results are encouraging especially as 40 per cent of respondents did not think that conditions for landlords and property investors would improve in 2018.

 

When asked what had been the biggest challenge in 2017, 43 per cent cited the additional stamp duty charge of 3 per cent when buying an investment property.

 

Economic uncertainty came second at 21 per cent, followed by new affordability rules at 16 per cent, while 15 per cent said accessing funding was the biggest challenge, and 5 per cent cited the stripping back of tax relief.

 

Around 45 per cent of those questioned bought residential properties as investments, 21 per cent bought foreign properties, and 11 per cent bought commercial properties.

 

Tomer Aboody, director of MTF, said: “While there is continuing uncertainty, particularly over how the Brexit negotiations will unfold, UK property investors remain resilient.

 

“The fact that property professionals have continued to invest in the UK, despite the uncertainty and numerous challenges, bodes well for the future of the market.”

 

“Bridging finance is there as a tool to help investors fulfil their requirements when looking to purchase properties quickly and increase their portfolios.”

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