More than four out of 10 buy-to-let (BTL) landlords (42%) intend to purchase additional property in the next 12 months, a Landbay survey reveals.

Despite ongoing pressures on landlords, the quarterly survey found that 79% of those intending to buy said they do not plan to sell any of their existing properties.

The strongest intention came from landlords with larger portfolios, with half of all landlords with 11 or more properties planning to expand.

One out of five (21%) said they don’t know if they will buy more property, with most of those planning to wait and see what happens in the market.

Meanwhile, many of the 37% not intending to buy said they are content with their existing portfolio, with 64% of those landlords saying they did not intend to sell any either.

Landbay managing director, intermediaries Paul Brett says: “Rather than a ‘mass exodus’, this latest data shows a real statement of intent among landlords to not only maintain their existing portfolios but to expand. This is hugely encouraging given the myriad of challenges facing landlords and the wider buy-to-let sector.

“Landlords will be encouraged by the news of rates trickling down recently. With the new year bringing lots of positive indicators for the year, plus strong rental yields still reported by many respondents, landlords clearly have the confidence to push ahead with expansion plans.”