Private tenants could suffer further rent rises, after it was announced in the Budget that landlords’ tax relief will be cut.
Mortgage interest tax relief for buy-to-let landlords will be reduced from up to 45% to 20% by April 2020. Letting agents fear that landlords will not be able to offset costs, such as agent fees or repairs.
Experts have cautioned that landlords could therefore increase their rents to compensate for their loss.