Tory slams government over second homes and “stuck” first time buyers

Tory slams government over second homes and “stuck” first time buyers


Todays other news
Fiscal advice is what landlords most want from brokers, a...
The Scottish additional homes tax is the highest level anywhere...
The average cost of damage done by a tenant is...
The latest lender to try to woo landlords is Accord,...
Shamplina has won this accolade three times in the past...


A prominent Conservative has described as “infuriating and saddening” the fact that so many Millennials are stuck renting and cannot afford to buy.

Ryan Shorthouse is the founder and chief executive of the Conservative-supporting think tank Bright Blue, and writing in The Times he is critical that under his p[arty’s government “buy to let investors have swooped to claim properties that traditionally would have gone to those starting out on the property ladder.”

He is also critical that a reported one in six so-called baby boomers have a second home. 

Instead Shorthouse wants Housing Secretary Michael Gove to tilt the balance of the housing market towards first time buyers. He praises the additional homes stamp duty surcharge for second home owners and investors but wants more, with a mortgage review leading to easier and cheaper loans for FTBs, and their rent record becoming part of their eligibility for a loan.

He also considers interest-free loans for younger non-home owners “of modest means” as a potential Conservative policy.

“Addressing this inter-generational injustice needs to be a central mission for this government” he says, adding: “[This would be] for moral and economic reasons but also political ones.”

And he concludes with a rallying call to his part, saying:”It’s time to do something bold so that more millennial can obtain what is worth conserving.”

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Landlord Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
This is the latest bid by Airbnb to be seen...
£5.9 billion has been spent to purchase UK properties through...
A university lecturer claims Airbnb has damaged the housing market....
Reform UK has paid a landlord some £4,000 after a...
Council will pay part of tenants’ rent to private landlords...
A mortgage chief is warning that thousands of buy to...
The government says it will shortly start a formal consultation...
Recommended for you
Latest Features
Changes in the Budget could significantly charge financial planning for...
Next year should see stability and opportunity in the private...
Sponsored Content

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here