Some 61 % of buy - to - let landlords purchased homes in cash in January , according to the Countrywide Monthly Lettings Index . The figure is the largest seen since the index was started in 2007 . Rent Jan-17 North west England had the highest percentage of cash buyers , with 70 % of households buying properties in cash rather than using a mortgage . London had the lowest number of cash buyers at 42 % . “ With the forthcoming tapering of tax relief on mortgage interest payments , landlords have less of an incentive to borrow , suggesting more cash activity in 2017 , " said David Morris , research director at Countrywide .
Some 61 % of buy - to - let landlords purchased homes in cash in January , according to the Countrywide Monthly Lettings Index . The figure is the largest seen since the index was started in 2007 . North west England had the highest percentage of cash buyers , with 70 % of households buying properties in cash rather than using a mortgage . London had the lowest number of cash buyers at 42 % . “ With the forthcoming tapering of tax relief on mortgage interest payments , landlords have less of an incentive to borrow , suggesting more cash activity in 2017 , " said David Morris , research director at Countrywide .