Landbay: 76% of landlords raised rent due to mortgage costs

Tuesday, December 5, 2023 By Aaron Strutt

A Landbay survey has revealed that 76% of buy-to-let landlords have increased rents in the past year, primarily to offset rising mortgage expenses. Over half attribute these hikes to mortgage payments, while 20% followed letting agents' advice. Other factors include property maintenance and EPC rating improvements.

If mortgage rates climb, 71% foresee further rent increases. Regionally, 89% of Southern landlords (excluding London) anticipate raising rents, contrasting with 62% in the North and 78% in the Midlands. In London, 65% predict rent hikes. Of those planning increases, 65% would raise rents by up to 10%, split between 6-10% and up to 5%.

Landbay's Rob Stanton notes the understandable link between mortgage rates and rent rises, with some landlords refraining due to low mortgage costs or retaining long-standing tenants.

Call Trinity Specialist Finance to secure a mortgage on 020 7016 6151 or book a consultation 

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