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TODAY'S OTHER NEWS

Tory manifesto ‘cripples landlords’ ability to run a functioning letting business’

The National Landlords Association (NLA) has slammed the Conservative Party manifesto for proposing nothing to encourage and support landlords to continue investing in the PRS. 

Boris Johnson insists that a Conservative majority government will “empower” renters. 

However, the NLA hit back at claims made by the Tories that their proposals when it comes to private renting will offer “greater peace of mind”. 

Richard Lambert, CEO of the NLA, said: “The Conservatives claim that the changes announced in the manifesto will ‘create a fairer rental market’, but fairer for whom? 

“To say that we are disappointed that the Conservatives have pledged to continue with their plan to abolish Section 21 is an understatement. Despite a robust lobbying campaign on behalf of the two million landlords in the UK, the Conservatives seem hell-bent on continuing to punish hardworking and law-abiding landlords.”

Lambert is also sceptical about the Conservative Party’s plan to introduce a new scheme to permit tenants to transfer their tenancy deposits when they move properties. 

The new Lifetime Deposit scheme will allow renters to transfer their deposit from one property to another instead of being left out of pocket for weeks while they wait to be reimbursed from their old landlord but have to spend money securing their new property.

He continued: “We will reserve judgment on the so-called “lifetime deposit”. The Conservatives has yet to confirm what this will look like or how this will work in practice.

“The NLA cannot get behind a manifesto that so badly cripples landlords’ ability to run a functioning letting business.”

The NLA has also hit out at Labour’s manifesto for being “too exteme”, as well as “unrealistic”, not to mention “hugely damaging to housing supply in the UK”.

Poll: Has the Conservative Party let BTL landlords down since coming to power in 2010?

PLACE YOUR VOTE BELOW

  • icon

    Your headline: Tory manifesto ‘cripples landlords’ ability. Your article does not name the person or organisation who stated the two words in speech marks.

    Bill Wood

    I think the whole quote is:
    * 'cripples landlords' ability to run a functioning letting business' *
    The second inverted comma is in the wrong place, is should be * landlord's * which is an abbreviation of * landlords their *.
    But I'm an engineer, not an English language scholar, so I might be wrong.
    Anyway, your question is very valid, who said it?

     
    Bill Wood

    I think the whole quote is:
    * 'cripples landlords' ability to run a functioning letting business' *
    The second inverted comma is in the wrong place, is should be * landlord's * which is an abbreviation of * landlords their *.
    But I'm an engineer, not an English language scholar, so I might be wrong.
    Anyway, your question is very valid, who said it?

     
  • icon

    Because of "Landlords from hell" All good landlords are being punished and treated the same as them.
    All extra costs Landlords face are passed on to tenants,as we have no choice.
    We are not treated as a business,when we should be.After all that's what BTL is !
    I am thinking of getting out,what with all the nonsense going on,the tax treatment etc
    Then see how this government manages to house everyone!

  • Patrick Sullivan

    As an agent and landlord I see all of this as pure Vote farming, going for the voters ie tenants. What about regulation of agents ? UK Landlord licence scheme ?

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    I see so much talk & surveys about cash buyers but the reality is so much different. I have bought supposedly for cash but it was never the case. I couldn't get the loan on the one I was buying for one reason or another including the slow process of getting a loan on the one I was purchasing, then had to borrow against my existing House, so then I am considered a cash buyer, maybe they Landlord knockers & statisticians can absorb that, (so no loot in back pocket).

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    Welcome back to the 1970's; price fixing (rent control acts), nationalisation, high national debt and a generous helping of popularist rhetoric and nonsense... why do some folks think it will be different this time around ? Sure - interest rates are significantly lower but there is overseas interest in UK property investment driving prices in some areas as the exchange rate is also below its historic average. It will change at some point, but please stop blaming Landlords for outcomes caused by market forces!

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    Both Parties are competing for the Renter vote. So both are pillorying landlords. Caracturing us all as bad/ evil. Most surveys and reports are "fake news" and probably worthless . So come 12 December most landlords I know will be voting for the one they see as the least unpleasant Party. And that ain't Corbyn and his even more leftist No 2.

  • icon

    Well hasn't it always been a case of voting for the lesser of the 2 evils, none of this is going to end well, it will be as always the end user that will pay, but will tenants see this ? doubtful.

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    If Labour get in, it will be much worse as landlords will be treated as criminals.

  • Paul Barrett

    I believe the tipping point has been reached
    LL who have been in the game for a while have come to the conclusion that things are going to only get worse.
    So might as well get out while the going is good
    even if Labour don't get in this time.
    They might 5 years from now.
    Use this Tory Govt for the next 5 years as an ideal opportunity to escape the AST PRS and BTL mortgages if a sole trader LL.
    There will never be a better opportunity to get out of the game with as much profit as you've earned over the years.
    Govts will be coming after property wealth cos that is where the money is.
    Private LL will be effectively asset stripped first then they'll go for homeowners.
    Think MANSION TAX!!
    Staying as a mortgaged AST LL is just presenting Govt with an easy target to hit.
    Why bother making it so easy for them!?

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