Labour want to tell you when and how much to sell for

by Property 118

9:27 AM, 2nd September 2019
About 3 months ago

Labour want to tell you when and how much to sell for

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Labour want to tell you when and how much to sell for

John McDonnell Labour Shadow Chancellor has given an interview to the Financial Times outlining a ‘tenants right to buy’ policy idea first muted by Jeremy Corbyn in 2015 stating it would be a “great and radical solution to the burgeoning buy-to-let market.”

Labour want to redistribute wealth and raise living standards by forcing landlords to sell to tenants at a predetermined discount under a scheme similar to Margaret Thatcher’s council right to buy policy in the 80s.

McDonnell said: “You’d want to establish what is a reasonable price, you can establish that and then that becomes the right to buy. You (meaning the Labour party) set the criteria. I don’t think it’s complicated.”

“We’ve got a large number of landlords who are not maintaining these properties and are causing overcrowding and these problems.”

“In my street now a third of the houses are right to buy, badly maintained, overcrowded. It’s horrendous.”

Conservative MP, Michael Fabricant, told the MailOnline: “McDonnell has promised he would overturn the mixed-economy capitalist system if he came to power. This manoeuvre is just the start.”

“It would decimate the rental market in the UK, creating a shortage of properties available to rent.”

Andrew Bridgen, another Tory MP, said: ‘This is a frightening insight into what it would be like if this man ever became Chancellor of the Exchequer.

“These policies would destroy the private rental market as well as crash the entire housing market. It would also lead to a rise in homelessness, which Labour claims to be against.

“It’s true to his declared ambition to destroy capitalism.”



Comments

amarni

13:06 PM, 2nd September 2019
About 3 months ago

I remember communist Warsaw, Poland June 1979 well.
Pope John Paul II had just visited early June and celebrated the Eucharist holding prayers in Victory Square.
I was there visiting end of June 1979
Besides an electrically charged atmosphere around me. I decided to buy some food in the one open shop available. No queues, went straight in.
Completely empty shelves except for a few, 3 or 4 x half size (from Common Market meat mountain) tins of Yano beef - may have been black market, and 2 x pairs of pigs trotters for sale.
All mens jackets were made out of beige or black plastic same as in DDR too.
Keep McDonnell, Corbyn Seamus Milne et al out!

Whiteskifreak Surrey

15:34 PM, 2nd September 2019
About 3 months ago

We are now travelling via Ukraine and see lots and lots Soviet "leftovers". It is frightening. What those two red idiots want to bring in is COMMUNISM. We happened to live under that system and know how it (doesn't) work.
Sadly, IMHO, Boris' action with proroguing Parliament may have such effect that Commie Corbynov will get into No 10, by simply offering at least another referendum...
As I say time to sell up, pack up and leave that idiocy called UK for some better places to invest.

Prakash Tanna

19:01 PM, 2nd September 2019
About 3 months ago

God forbid Labour ever come into power and legislate this absurd idea. He will destroy the rental market and I for one will not be forced to sell to tenants for 'below market value' prices. Instead, I will evict the lot of them, all on HB, making them homeless and a burden to the LA's and sell up for a 'fair market price' and exit the industry. It's the last nail in the coffin. I'll then spend all the wealth, sell my own home and sign up for HB myself and live off the state till death do us part !!!

Dylan Morris

19:13 PM, 2nd September 2019
About 3 months ago

McDonut could be right about over crowding. How else do we accommodate 300,000 (net) immigrants each year ?

Seething Landlord

19:43 PM, 2nd September 2019
About 3 months ago

If this ever becomes a reality it might actually make it more attractive to let to benefit claimants as they are unlikely to ever be able to finance the purchase of a property. If they did, they would no longer be able to claim Housing Benefit. Support for mortgage interest is only available if the claimant has been receiving Universal Credit continuously for 9 assessment periods (9 months) and has not had any earned income during that time. It is treated as a loan, repayable on sale of the property.
I suppose that the next campaign would be to outlaw advertisements saying "DSS only, solvent or employed applicants not accepted".

James Fraser

19:45 PM, 2nd September 2019
About 3 months ago

He says his street is blighted by 1/3 houses badly-maintained by RTB (implication: landlords) but his neighbours tell a different story:

https://www.dailymail.co.uk/news/article-7419549/John-McDonnells-neighbours-deny-claim-street-badly-maintained-overcrowded-homes.html

Appalled Landlord

20:23 PM, 2nd September 2019
About 3 months ago

Reply to the comment left by James Fraser at 02/09/2019 - 19:45
So it was just a stupid lie that was bound to unravel! On a par with the stupidity of his proposals. What a fool! What a laughing stock!

Mark Smith (Barrister-At-Law)

20:38 PM, 2nd September 2019
About 3 months ago

Reply to the comment left by Simon Williams at 02/09/2019 - 12:00
ARTICLE 1
Protection of property
Every natural or legal person is entitled to the peaceful enjoyment
of his possessions. No one shall be deprived of his possessions
except in the public interest and subject to the conditions provided
for by law and by the general principles of international law

James Fraser

20:49 PM, 2nd September 2019
About 3 months ago

Reply to the comment left by Mark Smith (Barrister-At-Law) at 02/09/2019 - 20:38
‘Except in the public interest’ and ‘conditions provided for by law’ are the get-out clauses to be wary of, I feel.

Luke P

21:34 PM, 2nd September 2019
About 3 months ago

Reply to the comment left by James Fraser at 02/09/2019 - 20:49
My thoughts entirely. It would seem your stuff is not really your stuff, if the decide…

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