A survey on the broker forum showed that 28% of landlords are looking to sell their properties, and only 3% intend to purchase additional properties.

Just over a quarter of landlords have no plans to alter their investments, while 39% of BTL investors say they will increase rents.

Donna Hopton, director at Cherry, said: “Recent turbulence in the money markets has impacted all mortgage clients, but BTL has arguably been hit hardest given the detrimental impact that higher rates have on stress testing and the loan sizes available to property investors.

“If you then consider the stream of regulatory and tax changes that landlords have had to deal with in recent years, combined with upcoming EPC requirements, it’s unsurprising that so many are choosing to sell properties.

“However, there are also millions of landlords who remain committed to the market, and it’s a market of continued demand from tenants and rising rents, so there will be plenty of opportunity for property investors.

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“Set against this backdrop, brokers have an important role to play in guiding their landlord clients through this challenging period and helping them to lay down the foundations for future growth.”

Mike Cook, chief mortgage officer at MFS, remarked: “Rising interest rates, new EPC rules and the introduction of various regulatory changes in the PRS over recent years has naturally caused some landlords to consider their options.

“However, we should be wary of overstating the declining appeal of BTL – with huge demand from renters and long-term capital growth on offer, residential properties will continue to attract interest from a wide range of investors.

“The challenge right now is for landlords, brokers and lenders to work together for the greater good.

“It starts with flexible and competitive products, whether that’s bridging finance or BTL mortgages.

“Brokers and lenders must provide landlords with access to the capital they need to purchase, renovate, refurbish and improve the EPC ratings on properties; this will ensure a buoyant rental market and help drive up standards.

“Further, by delivering choice and transparency, lenders can also help landlords navigate the dual challenges of base rate hikes and rising inflation."