Labour plans would cause a Mass sell-off

by Property 118

10:54 AM, 2nd September 2019
About 2 weeks ago

Labour plans would cause a Mass sell-off

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Labour plans would cause a Mass sell-off

Labour plans to force landlords to sell homes to tenants for less than market rates would kill off the private rented sector, says the RLA.

Shadow Chancellor John McDonnell has today proposed a new ‘Right-to-Buy’ scheme for private sector tenants to tackle what he describes as the “burgeoning buy-to-let market” and the problem of landlords who do not maintain their properties.

McDonnell said that, should Labour win the next election, the party would bring in legislation allowing tenants to buy their rental home – and not necessarily for the market price.

Mass sell-off

David Smith, policy director for the RLA said: “Labour’s proposal would effectively kill off a large part of the private rented sector denying a home to many thousands of people.

“If there was to be any chance of this becoming law, there would be a mass sell-off of properties in advance.

“The RLA is all in favour of landlords selling to sitting tenants, but it must be entirely voluntary. Anything else amounts to a form of compulsory purchase.”



Comments

Michael Barnes

1:24 AM, 4th September 2019
About 2 weeks ago

"the problem of landlords who do not maintain their properties".

Are tenants going to want to buy unmaintained properties?

M H

8:32 AM, 4th September 2019
About 2 weeks ago

There has to be more detail to the plans, not just any old tenant can purchase any old property!?
Like, sit in tenant, rented for more than 10 years, as conditions, surly someone renting for 6 months or a year would not be allowed to purchase...??
Madness any which way, we know there is going to be a surge in landlords selling and then becoming tenants 😉

Mike

10:37 AM, 4th September 2019
About 2 weeks ago

Do we know whose Stupidest Brain Child was behind this idea?

Has he ever bought a house with his hard earned money by working really hard and shedding sweat and blood.?

Or did he just think that we got it from no where, and so should give it away?

Come over here and i will show whoever he is what hard working means, soon he will be drowning in his own pool of sweat.

colette

11:30 AM, 4th September 2019
About 2 weeks ago

Reply to the comment left by Mike at 04/09/2019 - 10:37
As far as I have read he bought his ex council house now worth around £700k in a nice cul de sac in London in which only one house is rented out and the road according to the neighbours is well kept. There was a full story and pics in the daily mail and also pics and interviews in the surrounding area. His neighbours were not happy he described their road as disgusting etc in relation to bad landlords. Typical comment from someone who knows nothing about the rental market and is so left wing he cannot see the wood for the trees.

bob the builder

15:12 PM, 8th September 2019
About A week ago

UK is already a socialist country (e.g. hate speech laws were created in the Soviet Union), Labour would make it full Communism; I am not only getting out of being a LL but will be getting out of the UK - as the demographics change every year in their favour, it is 'when not of if' for Labour to get in. The only hope in the future for the UK would be a military coup.

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