The media reacted with horror at the Chancellor’s latest move against private landlords. The sensationalised headlines heralded the death of the Buy to Let with predictions of rents climbing to unaffordable levels.

There is no doubt that prospective landlords who were looking to invest in 2 or 3 rental properties to supplement their income will sharpen their pencils and look again at their figures. However, the larger scale investor (who are looking to rents to replace, rather than supplement, their income) is unlikely to exit the market, but may recalibrate their portfolio by trading in their London properties for several up North. It’s not so ‘grim up North’ anymore…