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Buy-to-let landlords stop 2.2 million families becoming homeowners, report by Tory MP finds | The IndependentMore than 2 million families have been locked out of home ownership as a result of landlords buying up properties to rent out, a new report by a Conservative MP has found.
The study, by Neil O’Brien, calls for new government action to stop people buying homes as an investment, including by abolishing tax relief for landlords and clamping down on overseas buyers.
It says minsters also need to be more radical in boosting housebuilding in order to regain the initiative on housing from Labour ahead of the next election.
I think this fig could be right
and this is the very reason why The Govt will not encouraage BTL in future years
Even if its not right 100% the perception is there
The Hard Truth is we are not wanted Just some Landlords find that hard to undrstand
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
The report, which was written by Neil O’Brien, a former aide to George Osborne ....The spectre of GO continues ....The Guardian has also reported this story >>> here.
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
The Guardian, The Times, The Indy and website ConHome. Anyone wishing to express their opinions in their comments section would be most welcome to join those of us arguing this. (Think Guardian doesn’t have a comments section on this one).
A friend and I went to a discussion held by a property millionaire when this subject came up. The millionaire had the person who asked the question thrown out of the room! But I think he should have answered it.
This doesn't make any sense. Lots of people cant afford their own homes and they need to rent off someone!! Having lots of rental accomodation available is important so young people can move out of home and take their first steps to independence.
When it comes to purchasing a home to live in, I think Buy To Let landlords and homeowners are looking for differenr things. We are looking for something simple, plain, easy to maintain, close to town. They are usually looking for something with a garden, probably larger and with character. I don't understand why it's an issue
Who had someone thrown out of a room for asking a legitimate question?!
What your saying in a nutshell is we need to have choice in the UK to rent or to buy
and I would agree with you One size doesn't fit all
But I think this view is maybe not the Politicians view
and maybe it is the dream of all our Tenants to own a home
The counter argument from Generation Rent is because Landlords purchase property and charge us so much rent we don't have a chance to own our own home
You and I will not be listened too especially if a Landlord is in the SE and sitting on a lot of profit
so The Govt bring us S24 ect ect
We will all ways have a PRS but the shape of the PRS we provide is not going to be the chosen model in the Govt Eyes
We are stuck in the middle here and there is no win for us
Unless you are a Landlord who doesn't need to borrow and can afford to build homes
We will become like weeds in the garden who will always be there but unwanted as time marches on.
The very fact is this is from a Conservative MP
That means hard choices, like ending tax breaks for new landlords
I have said it before and I will say this again This Morning for any New Landlord or and old Landlord expanding Now They must be MAD
This MP will be listened too
The Next Parliament could see the end of BTL be that in a company or an individual name
I will be retired by then and on a good pension so I will not be relying on BTL to live on
Maybe I'm mad, but it seems its absolutely fine to be a landlord and to expand as long as you don't provide homes. I have developed a dislike for the AST and it seems that by avoiding it there are many tax efficient opportunities available to landlords.Borrowing is a little more expensive but as soon as you move away from ASTs it seems the perception is you have a business rather than an investment.
would you mind list in bullet point those options? Are you thinking about holiday lets? HMO (this might be the same as AST I guess) but what else?
Hi Pete, just for context I am not a property expert. I have had 1 unencumbered, inherited, rental property for 4 years and have been a lodger landlord for nearly 30 years. I have been considering alternative methods of rental income, i.e. licences, common law tenancies and leases from the equity in my inherited property which I will split between 2 options. I have listed these options indicating the planning usage, S24 implications and whether Business Rates apply. None of these require an AST.