x
By using this website, you agree to our use of cookies to enhance your experience.
STAY CONNECTED!
    
newsletter-button

TODAY'S OTHER NEWS

Government urged to take action to restrict BTL landlords

Buy-to-let landlords are having an adverse impact on home ownership, according to new research.

Fresh analysis by Onward suggests that the government should do more to help create a level playing field between home owners and private landlords by limiting the number of properties buy-to-let investors can own.

The Conservative think tank has also recommended ending or limiting tax breaks for both private and buy-to-let landlords, in order to deter them from investing in residential property because buy-to-let reduces the number of homes available for people who want to buy them to actually live in.

Neil O’Brien, who compiled the report, said: “We need to change the balance between the rented sector and home ownership. 

“We should protect existing landlords but discourage more people from investing in rental property, because the buy-to-let boom has bid up prices and reduced homeownership among younger people.”

In addition, O’Brien, a former George Osborne aide who has also worked for Theresa May, wants to see foreign investment limited and local councils given greater control of housing stock and the power to reform of the planning system, with a view to helping the government reach its target of building 300,000 new homes a year in England by 2025.

  • icon

    onward==fools

  • icon

    obrian is a trougher

  • SCN Lettings

    Think tank office conversation:

    "There's not enough rental property due to government taxes and legislation on landlords. Demand is increasing. Rents are rising. A lot of tenants prefer to rent or can't afford the deposit. What should we do?

    "I know - lets stop any more landlords buying. That'll sort the problem out"

    If Carlsberg did think tanks.....

  • Andrew McCausland

    Seems more to do with re-positioning the Conservative Party to win votes from Generation Rent than anything to do with economics. The whole of government policy toward housing is disjointed. You can't try an encourage more home ownership on one side whilst also asking the BOE to make it substantially harder to get a mortgage on the other. Even with Help to Buy etc, the majority of renters cannot get the deposit together or can't meet the lending criteria to access a mortgage. So step forward the "scum" landlord to steal the property away to actually house these people. It might be different if local authorities or central government actually dipped their hands into their own pockets and built the housing required. Until they do this the country needs the private landlords to provide the housing required.

  • phil dillon

    Create a "level playing field " OK well start charging Home Owners CGT when they sell or remove CGT for BTL.

    icon

    And also charge homeowners 3% stamp duty. Or remove it for BTL landlords

     
    icon

    you are correct here, however it doesn't bother me, 1) i have no intention of selling anything, the income is much better than a lump of cash in the bank, and 2) the 3% stamp duty is taken into consideration when biding on a property and also when setting the rent level on that property.

     
  • icon

    Uk is run by clowns, the whole system is a circus! can you believe how stupid these people are?

  • icon

    1937 was the last time we had a level playing field and there were an equal number of rented properties and owned properties. The world has moved on since then.
    Form a line please (with the tallest at the back) of those who want to return to that time of level playing field.

  • icon

    "buy-to-let reduces the number of homes available for people who want to buy them to actually live in" - What do tenants do if they don't live in the properties?

  • icon

    This idiot forgets that not all people can save deposit needed to buy a home. Where i live in Midlands there are pages and pages of houses for sale on Rightmove and no one is stopping potential buyers except they do not have deposit saved.

    icon

    Or there isn't enough demand in the midlands perhaps, put those houses in the South East and I'd bet they'd sell soon enough.
    There are more factors involved in buying a house than simply finding one that's affordable. I expect there are landlords who could buy entire terraces in the welsh valleys or parts of Liverpool, I doubt you'd be able to find many that'd want to though.

     
  • Peter David

    Dear government.
    1. Our tenants do not want to buy a property.
    2. All of them are very happy renting.
    3. Go to 1

  • icon

    Fact, there is no shortage of homes for sale.
    Fact, most that rent can't afford to buy or do not want to buy.
    Fact, if it were not for private Landlords this government could not house all the renters.
    Fact, Landlords are treated like criminals and the playing field is not level for Landlords.
    Fact Landlords provide a service and BTL needs to be treated as a business! like any other business.
    Fact, most Landlords want people to stay long-term and want longer tenancies,but there needs to be break clauses the same on both sides.
    Fact,Landlords want fast low cost evictions for those not paying rent ,causing damage or wanting to sell up.
    Fact this government do not have a clue !

  • icon

    Best post I’ve read in ages couldn’t agree more

icon

Please login to comment

valpal
submit
sign up