Virtually a third – 32 per cent – of BTL landlords are laying down plans to invest in more properties over the next year in spite of the nation’s crippling higher interest rates, according to a survey.

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The research from a mortgage lending platform also found that nearly half of landlords -  43 per cent – have no interest in purchasing any properties in the next twelve months.

Reasons given included insufficient funds at the present, the ending of Section 21 evictions ( which has just been delayed for the time being) and the favouritism shown to tenants in the Renters Reform Bill’s measures.

The remainder 25 per cent of landlords had made no decisions or plans either way, however some did intimate that if a good opportunity surfaced then it could be considered, especially if landlords are selling up.

The business development director of the mortgage lending platform, Rob Stanton, said: “Despite the various pressures buy to let landlords are facing, there is still an appetite for further house purchase.

“We know there is a big demand for rental property, and this is one of the reasons landlords are actively looking to expand their portfolios.

“They are also keeping an eye on falling house prices and other landlords selling up.”

He added: “While it is true that higher interest rates are putting off some landlords, for others there are opportunities out there.

“This is more noticeable in the Midlands and the North of England, with the South, typically more expensive, proving less popular for property purchase.”

The survey also highlighted that the majority of landlords who are going to invest in more properties have existing portfolios as 44 per cent of them own 11 or more properties and 26 per cent own between four to 10 properties.

But the survey also discovered that smaller landlords are also considering increasing their portfolios with 30 per cent who own one to three properties.

On the regional front the survey found that landlords in the Midlands and East of England will be buying the most properties in 2024 with 46 per cent committing to this and landlords across the North accounted for 39 per cent investing next year.