It could deter new landlords, as it squeezes margins slightly more and we may see some who want to exit if their yields are tight, but for the majority it will be a small hit and easily absorbed.
The changes are needed and I think they’ve been made in the best places.
More landlords have and will exit due to legislation changes to the private rented sector and tax changes previously implemented by George Osborne.
FTA: What will be the impact on the rental sector?
DG: Minimal impact, but potentially less stock available for let.
FTA: What might the Autumn Statement mean for mortgage rates?
DG: The changes are needed and I think they’ve been made in the best places, without having too much impact on the average person.
We’ve had nearly a week to digest the changes and so far – the market is still showing great confidence. Swap rates and fixed rates are still reducing, albeit slowly – it is moving in the right direction. Variables may still go up in the short term.
FTA: What other issues would you have liked the chancellor to address?
DG: None – too much change brings uncertainty, which can impact the market negatively.
FTA: What should the government be watching closely when it comes to mortgages and housing between now and the next Budget?
DG: Ensuring rates continue to reduce and are then maintained at a sustainable level, by controlling the economy and ensuring stability.
FTA: What do you want to see in the next Budget?
DG: To further address the cost of living and energy crisis.