The latest test of landlord sentiment by Benham and Reeves has revealed that half were disappointed that a reintroduction of mortgage tax relief didn’t come to fruition, and one in 10 even plan to exit the sector as a result.

It was hoped by many in the industry that the government would throw the buy-to-let sector a bone following a string of legislative changes that have caused many to exit the sector, and 71% of those surveyed by Benham and Reeves stated that they would have liked to have seen some other form of incentive announced.

Some 12% of landlords also revealed that they had planned to increase the size of their portfolio but will now refrain, while a further 6% will still push on with their plans to expand their investment.

However, 10% stated that they will now reduce the size of their portfolio due to a lack of support from the government, with an additional 8% already having planned to do so.

What’s more, one in 10 also stated that they plan to exit the sector due to a lack of government incentives to remain, while 7%, again, had already planned to exit prior to the spring statement.

Marc von Grundherr, director of Benham and Reeves, said: “The government has been waging war on buy-to-let investors for quite some time now and many within the sector were hoping that the spring statement would finally see them thrown a sugar lump, rather than shown the stick.

“Unfortunately this failed to materialise, but while disappointing, the majority of landlords remain unfazed and, let’s face it, unsurprised.”