Despite being a successful landlord of three London houses for the last 20 years, Chidi Egbujie is exiting the market because of recent property tax rises.

He says his properties – one in Tottenham, one in Waltham Cross and one in Chadwell Heath – cost more, in terms of mortgages and upkeep, than he’s making back in post-tax income, and an increase in taxes on landlords at the Budget will worsen the situation.

Every year, the 50-year-old, from North London, said he has had to dip into his own pocket to keep his properties, which “doesn’t make financial sense” to him. He says this will be made worse because of the tax hit , which will add 2 percentage points to the income tax rates paid by landlords from 2027. New Feature

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