British iBuyer specialist Upstix is targeting buy-to-let landlords who want to offload properties because of the increasing level of regulation and taxes being imposed by the U.K. government.

Upstix, led by Giles Mackay (LinkedIn profile), thinks there is an opportunity for his company because the changes make it harder for landlords to make a profit and means more will look to sell. The company only launched its business in March.

This week the U.K. government passed the Renters (Reform) Bill which means all landlords have to register on a portal and provide details of their business or they could be fined. The legislation also abolishes no-fault Section 21 evictions. Rental properties are also expected to have to meet a minimum energy performance certificate target to be legal by 2028.

This means Upstix is targeting buying rental properties from landlords alongside its usual mix of property which often come from the dreaded ‘Three D’s’, divorce, debt and death.

The U.K. has what has been termed a “housing crisis” whereby many people cannot afford to buy a property, which means more need to rent from the estimates 4.7 million private landlords in the U.K.

Upstix is initially targeting the north east of England, an area where property prices are amongst the lowest in England because the area has the most potential with the least amount of risk. It doesn’t operate in London where high prices mean there is a limited number of first-time buyers and it views that market as too risky.

The company sees three-bedroom semi detached houses as its most lucrative market in the U.K. and wants to buy as many of these as possible.

Upstix manages a database that covers the whole of the U.K., built by its sister company Outra. It helps Upstix to predict the behaviour of every active person in the property market.

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