Landlords should be spared any new tax and regulation changes after a “weak start” to 2017 for the UK buy-to-let sector, lenders say.
Buy-to-let investors have faced a stamp duty surcharge, tax relief changes and stricter affordability checks.
The Council of Mortgage Lenders (CML) said an expected recovery in lending to the sector had failed to materialise.
The impact of these changes should be assessed before any new policies were designed, it said.
However, some would argue that the changes have started to rebalance a housing market that had been skewed in favour of buy-to-let investors and had blocked young people from getting on the housing ladder.
Housing market ‘stalled’
The CML had forecast originally that total buy-to-let lending would reach £38bn this year and the same amount in 2018, but it has now cut that to £35bn in 2017 and £33bn in 2018.