Four in ten properties in the private rented sector have buy-to-let mortgages on them.
The estimate was made by Communities and Local Government minister Andrew Stunell in response to a question from Labour MP Graham Jones asking about “the effects of buy-to-let mortgages on the size of the private rented sector”.
Stunell replied: “Based on data drawn from the English Housing Survey for 2010-11 and the latest figures from the Council of Mortgage Lenders, we estimate that buy-to-let mortgages currently support some 39% of private rented sector stock.
“The Government’s Housing Strategy outlines our support for a thriving private rented sector, as well as taking a series of measures to build more affordable homes and support home ownership.”
Graham Jones is MP for Hyndburn in Lancashire, whose council is currently making a second attempt to regulate private landlords by introducing selective licensing. The authority’s first attempt was blocked when a legal challenge by a collective of landlords was upheld by the courts.
Jones has repeatedly called on the Government to tackle the problem of rogue landlords.
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Comments
I wonder how many of the 61% that are not BTL mortgaged are owned outright by small landlords, or are in fact large portfolios which are financed a different way.