Property Quorum – Thursday 4th September at 10am

Buy-to-let used to be a no-brainer. A solid long-term income stream, rising asset value, and the comforting idea of “something you can touch.” It was how many built their wealth, or hoped to. A pension alternative, a side hustle, a slow and steady income plan.

Yet in 2025, the landscape has shifted. Hard.

This week on Property Quorum, we’re asking: is buy-to-let still worth it? Not just in theory, but in practice, on the ground, in today’s market, with today’s rules.

The numbers do not lie. Smaller landlords are pulling back. Buy-to-let mortgage rates are up, yields are being squeezed, and a raft of regulations, from Section 24 to tougher EPC standards, are hitting the bottom line. Add in talk of National Insurance on rental income, and it is no wonder many are rethinking things. The long-standing assumption that “property always pays” is no longer guaranteed.

We will look at whether it is still working in specific places. High-yield postcodes like Cardiff (CF24) or Plymouth (PL4) are performing well on paper. There is still movement in student-heavy towns, areas with strong hospital catchments, and places where demand continues to outpace supply. But for landlords with one or two properties, especially those who bought before the current wave of regulation and rising costs, the figures are starting to look tight.

Some are adapting by moving into limited company structures. Others are targeting HMOs or exploring short-term lets where the returns might justify the admin. Yet more are simply choosing to sell up, cash out, and look elsewhere – particularly older landlords looking to exit before more changes come in.

This is not just a landlord issue either. When landlords leave, rental stock shrinks. That means more pressure on tenants, more demand on local authorities, and fewer stepping-stones for first-time buyers who are not yet mortgage-ready. Lettings agents are seeing bidding wars return. And tenants face the frustration of high rents, reduced choice, and longer waits for repairs – especially in areas with little new build-to-rent development.

So where does buy-to-let sit in 2025? Is it still a reliable model for income and security? Or has it tipped into something too costly, too complex, and too exposed to sudden change?

Joining Gareth Wax and Hamish McLay for Thursday’s episode is Chris Gilsenan, property developer and co-owner of Root Home. Expect a grounded, honest conversation about what has changed, what is still working, and whether buy-to-let remains a smart move or a financial headache dressed up as a plan.

We will also explore what buyers and conveyancers need to be watching. Is the lender asking more questions about the client’s business structure? Are buyers factoring in the real cost of compliance? And how often are planned lettings falling through before completion because the numbers just no longer stack up?

As investor sentiment shifts, the risk is that buy-to-let loses its middle ground. It becomes either a full-time strategy for professional landlords, or a no-go zone for casual investors who simply want reliable returns. And that leaves a big gap in the middle – one that used to be filled by ordinary working people trying to do something sensible with their savings.

Is the traditional route to passive income closing? Or is it just shifting shape?

Join us live Thursday 4th September at 10am, or catch the replay on the Spilling the Proper-Tea YouTube channel:
? https://www.youtube.com/@SpillingTheProper-Tea

For content enquiries: hm@searchandconveysolutions.co.uk
For podcast/media info: gareth@mphats.com