BTL landlords are optimistic for the future as they look to maintain or expand their portfolios in the next 12 months, new research from Butterfield Mortgages Limited (BML) has found.

The prime London mortgage provider commissioned an independent survey of 501 UK landlords with BTL mortgages. It found that two-thirds (60%) of UK landlords are optimistic – both in terms of capital growth and rental returns – about the future performance of their property investments.

Over half (57%) of respondents revealed that this interest rate cut has had a positive impact on their investments, while a similar number (58%) believe that BTL investments remain highly attractive in the current climate.

When asked about their investment strategies in the next 12 months, the vast majority of landlords say they will increase (38%) or maintain (49%) the size of their portfolios. A small minority (10%) will reduce the number of properties they own.

BML’s research also found that over half (56%) of landlords believe that the predicted exodus of landlords from the BTL market has been greatly exaggerated.