Jeremy Hunt purchases BTL in name of Ltd co.

Jeremy Hunt purchases BTL in name of Ltd co.

10:51 AM, 27th March 2018, About 6 years ago 51

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Jeremy Hunt, the Health Secretary, has been slammed in the papers for reportedly purchasing seven flats in Southampton in the name of a new limited company.

Karen Buck, Labour MP, told The Sun: “It’s shocking that while renters wait, seemingly forever, for any help from the Tories, the Health Secretary is spending his time buying up loads of properties to let. Surely Jeremy Hunt should understand how this looks at a time when both the NHS and housing are in crisis.

“You couldn’t get a better example of how the Tories are more concerned with looking after their own instead of supporting ordinary people.”

Mr Hunt’s spokesman said: “Jeremy and his wife set up the company as a vehicle through which to make charitable donations and no salaries or dividends will be taken from it for their personal benefit.”

This raises the question of hypocrisy on the one hand with the recent Tory party attacks on Landlords using Section 24 and Stamp Duty surcharges. Then on the other hand Mr Hunt just doing what all landlords are that continue to invest in the PRS by purchasing in a Ltd co. Then gaining business relief on mortgage interest as per standard taxation practices and providing more homes to rent within the PRS that many people cannot afford to buy.

The Apartments are said to be in the upmarket waterfront area of Ocean View Southampton.


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Comments

Adrian Jones

10:51 AM, 27th March 2018, About 6 years ago

Reply to the comment left by Trevor Cooper at 27/03/2018 - 08:43
I seem to recall there was a Labour Prime Minister who had a portfolio of rented properties.

Luke P

11:07 AM, 27th March 2018, About 6 years ago

Reply to the comment left by Adrian Jones at 27/03/2018 - 10:51
And the current leader of the opposition, before he disposed of it (kicking a poor, poor tenant out in the process). Poor tenant.

david porter

15:02 PM, 27th March 2018, About 6 years ago

Reply to the comment left by Luke P at 27/03/2018 - 11:07
Can you verify that please?

Luke P

15:09 PM, 27th March 2018, About 6 years ago

Reply to the comment left by david porter at 27/03/2018 - 15:02
Was discussed on here before if I recall…

Rob Crawford

12:04 PM, 28th March 2018, About 6 years ago

I don't see any issue with his investment. If the properties have been purchased with a mortgage then he will surely be/become more sympathetic towards his fellow landlords. Each individual member of a party does not necessarily support all it's policies.

Mark Alexander - Founder of Property118

22:43 PM, 28th March 2018, About 6 years ago

Shame he didn't buy them all in his own name with the benefit of mortgages back in May 2015. He might well have given Osborne a flea in his ear a month later on that basis!

Whiteskifreak Surrey

22:53 PM, 28th March 2018, About 6 years ago

I assume that this transaction by Hunt's Limited company is a clear signal that Gov is not going to attack incorporated LLs? We have not considered incorporation, but in the circumstances we might start thinking about it. We were always afraid that Ltds will be the next target and we will spend money only to bu subject to another attack. What do the others think?

Colin Dartnell

8:47 AM, 31st March 2018, About 6 years ago

Good luck to him, I doubt he had any say in introducing section 24, so why bash him.

I'm a tory landlord as well, as no doubt are many of us on this site, does that make us all ba****ds.

david porter

8:59 AM, 31st March 2018, About 6 years ago

It seems that there are other flats for sale in Ocean village.
They are going to auction soon. Very conveneint as they are above Tesco Express ?
Why would you buy seven of these when there are many meat and potatoes houses in Southampton?
Average wages in Southampton is circa 30k.

Glenn Ackroyd

9:46 AM, 31st March 2018, About 6 years ago

Link on companies house to Hunt being a person with significant control of the company; http://bit.ly/Jeremyhunt

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