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Ex-housing minister urges government to end the ‘war on landlords’
12:03 AM, 1st February 2024, 2 years ago
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Robert Jenrick, the former housing secretary, has urged the government to end its ‘war’ on small landlords.
Writing for the Daily Telegraph, he argues that the next Budget should restore mortgage interest relief which was scrapped to discourage buy to let investment.
He claims that this policy has backfired, as many landlords have left the market and reduced the supply of rental properties, especially in rural areas where large institutional investors are less likely to operate.
He also calls for stamp duty reform, either by raising the thresholds, lowering the rates or abolishing the tax altogether.
He says this would stimulate the housing market and encourage more people to take out long-term mortgages of 25 or 30 years, which would offer more stability and affordability for homeowners and renters.
‘We should end the war on small landlords’
Mr Jenrick writes: “We should end the war on small landlords, which has proven to be so counter-productive for renters.
“It’s time to bring back mortgage interest relief for smaller landlords which was removed to choke off the buy to let boom of yesteryear.
“It certainly achieved that purpose, but at the expense of thousands of small property investors.”
He adds: “The market has lost so many landlords that there are not enough properties available for renters, especially outside the big cities where institutional landlords might reasonably be expected to step in.”
‘Turn a corner on the war against housing and landlords’
Mr Jenrick says that the measures he suggests would ‘turn a corner on the war against housing and landlords and give aspiration and economic growth a fighting chance’.
He admits that no single policy can solve the housing crisis, and that increasing demand alone is not enough.
Mr Jenrick also says that the medium-term solution is to ‘build, build, build’ more homes, by reviving planning reforms that would support small builders, cut red tape and environmental regulations, expand new towns, increase urban density and regeneration.
Housing crisis cannot be addressed without tackling mass immigration
He also says that the housing crisis cannot be addressed without tackling the ‘flip side of the coin’ – mass immigration.
The former minister says that the pro-housebuilding movement has ignored the fact that the housing crisis is linked to ‘unprecedented levels of legal immigration’.
He says that he secured a package to reduce legal migration by 300,000, and that further reforms are needed to ease the pressure on housing, especially in major cities.
Tags:
Budget, End War on Small Landlords, Housing, immigration, Jenrick, Landlords, Mortgage Interest Relief Restoration, Rental Property Supply Crisis, Stamp Duty Reform in Housing, UK
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Rents and voids rise across England
Member Since May 2022 - Comments: 42
9:48 AM, 1st February 2024, About 2 years ago
Couldn’t he have done this when he was the ACTUAL housing minister?
Repeal of Section 24 would be more beneficial than lowering stamp duty but Gove insists that will never happen (which means it might).
Member Since January 2020 - Comments: 93
9:48 AM, 1st February 2024, About 2 years ago
It would a nice u-turn but I can’t see it happening in the next budget. Or the next Labour budget.
Member Since July 2015 - Comments: 42
9:54 AM, 1st February 2024, About 2 years ago
Just another lying politician touting for votes. This isn’t really worth the space it is taking up on your website as we all know he is lying.
The same goes for labour politicians as they are all liars as well just touting for votes in the next election. Note to all: Remember what ever any of the parties promise us, it’s almost a certainty that they won’t deliver 98% plus of what is promised. I will take anyones money who wants a bet.
Member Since February 2020 - Comments: 360
9:57 AM, 1st February 2024, About 2 years ago
Reply to the comment left by York student landlord at 01/02/2024 – 09:48
So i went to my local MP to discuss these issues, and he wrote a letter to the then secretary for Housing and quoted MP on this article.
Funny how he’s only realising now, when he doesn’t have any power to do anything!!
I think this is just a case of saying the Tories believe in being conservative, without following through!
All bluster and no action. Vote Reform
Member Since February 2016 - Comments: 977 - Articles: 1
10:16 AM, 1st February 2024, About 2 years ago
A liar and a hypocrite, looking for votes.
He was 100% endorsing and pursuing that war.
I do not believe a single word any politician is saying.
Including Reform.
Member Since May 2022 - Comments: 42
10:20 AM, 1st February 2024, About 2 years ago
Reply to the comment left by Whiteskifreak Surrey at 01/02/2024 – 10:16
I think if anybody believes anything a politician says anymore, they are being very naive.
Member Since July 2015 - Comments: 42
10:23 AM, 1st February 2024, About 2 years ago
When I think of politicians, I always think of what Forrest would say ” Stupid is as stupid does”.
Member Since February 2015 - Comments: 29
10:35 AM, 1st February 2024, About 2 years ago
He’s one of the worst of the smarmy politicians. Sways with the wind, smiles and no action! I wouldn’t trust a word he’s saying. Why didn’t he a least raise these concerns whilst in office? He did more harm than good when he presided over the response to Grenfell and the cladding crisis in the private sector. Difficult to believe that it took Gove to come in to move things forward.
Member Since September 2021 - Comments: 104
11:11 AM, 1st February 2024, About 2 years ago
Well he’s a conservative, which is part of the lab/con uniparty. With 4000 people now sleeping rough on London streets the evidence is plain to see that these politicians don’t give a moments thought to any of the voters, except to lie to us, and fool us into thinking they might have a heart. They don’t. The job only accepts those who will lie, cheat manipulate, and blackmail, backstab and do or say anything to win votes. Then when they have got their seat, they tow the party line and do the WEF’s bidding. Red or blue it’s all the same. The WEF must be obeyed, disrupt the county in every way possible, and follow policies that destroy our culture, our economy, our lives. The EU is slowly waking up to this too. In several countries the people are protesting. French farmers blocking Paris with their tractors, protests in Germany and in the UK.
As for the UK’s landlords its getting harder and harder to make any profit, and for many they have left the PRS and invested in profitable ventures. Banks are buying up properties to rent, but when the tenants stop paying, will the business model still work for the banks? I don’t think so somehow. Also look at how poorly housing associations treat their tennants. They couldn’t care less, when the tenant complains about problems. Terrible service from them, and Banks will be no better.
If Labour get in power in 2024, they will be even worse than the conservatives. Wokery will rule. Watch the PRS landlord exodus urn into an avalanche as they sell up and go elsewhere. We will be back in the PRS of the 1970’s in no time.
E.g. No properties to rent, rents capped and frozen, landlords unable to evict non paying tenants, tenants able to purchase the LL’s property at a large discounted prices, tennants and relatives having the right to stay in LL’s property indefinitely, and much more punishments and bigger and bigger fines for landlords who stay in the PRS. It’s a war against Landlords, pure and simple, and it will take decades or even lifetimes to get back to a fairer and more productive society, if it can ever get back at all. No wonder people are leaving the UK in their 500,000’s per year, as 1,000,000 immigrants from all over the world a year flood into the UK and destroy our culture from within. Cheap labour for the big global companies, but destroying our lives and culture in the process.
Member Since May 2022 - Comments: 42
11:19 AM, 1st February 2024, About 2 years ago
Reply to the comment left by Frank Jennings at 01/02/2024 – 11:11
Off – track slightly from my original post but you clearly have strong (worrying) views.