Some 61% of buy-to-let landlords purchased homes in cash in 2007 , according to Countrywide Index. “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. The figure is the largest seen since the index was started in January . North west England had the highest percentage of cash purchases, with 70% of landlords buying properties in cash rather than using a mortgage. London had the lowest number of cash buyers at 70% . “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 Johnny Morris , research director at the Countrywide Monthly Lettings .
Some 61% of buy-to-let landlords purchased homes in cash in 2007 , according to Countrywide Index. The figure is the largest seen since the index was started in January . North west England had the highest percentage of cash purchases, with 70% of landlords buying properties in cash rather than using a mortgage. London had the lowest number of cash buyers at 70% . “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 Johnny Morris , research director at the Countrywide Monthly Lettings .