9:23 AM, 12th December 2024, About 11 months ago 9
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In a severe case of buyer’s remorse, Labour-voting landlords are expressing deep regret over their political choice, according to a survey.
Buy to let lender Landbay found that 80% of these landlords now admit they would not vote Labour again.
They point to the Chancellor Rachel Reeve’s decision to increase Stamp Duty on investment properties as a major factor.
Also, most private landlords are also not pleased to be tarred with the same brush as ‘rogue landlords’.
Landbay’s sales and distribution director, Rob Stanton, said: “Good landlords far outweigh the bad and the rental market is remarkably robust and thriving.
“What the buy to let sector really needs now is a confidence boost.
“With encouragement and support, the sector can continue to play an important role in helping solve the housing crisis.”
While 19% of landlords reported voting Labour, a 7% increase from the previous survey, it’s clear that many are reconsidering their political allegiance.
Landlord dissatisfaction with the government’s housing market policies is widespread, with 63% expressing disappointment.
One landlord questioned the government’s approach, asking: “Where is the incentive to invest? Who will take up the displaced tenants when private landlords, most of whom only have two or three properties, dispose of their properties?”
Another landlord expressed frustration, saying: “I shan’t stop buying properties, but how and what kind remains to be seen.”
A third landlord echoed this sentiment, claiming: “It feels like typical landlord bashing from a Labour Government.”
Judith Wordsworth
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Sign Up9:46 AM, 12th December 2024, About 11 months ago
I cannot believe that any PRS landlords would have been naive enough to have voted for Labour
.
Labour were very clear in their pre election statements the stance they would be taking re the PRS.
Rayner’s pre election statements included Labour would be instructing the courts to carry out a hardship test for the proposed s8 Ground 1. Not only concerning for landlords BUT very concerning for our constitutional separation of powers.
That should have been ringing massive alarm bells for all PRS landlords.
John Curtis
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Sign Up10:35 AM, 12th December 2024, About 11 months ago
Not many of the younger landlords can remember the state of the market before 1986 when Shorthold tenancies were introduced to create a rental market without long term (life ) tenancies.
We now have a situation where they are trying to put the clock back but with our money and investments to cover up successive governments mismanagement of the rental system.
I’m surprised someone hasn’t suggested compulsory purchase of the tenanted properties and give them to the tenants!
What will happen to all the people who are not now acceptable to private landlords because of the new rules?
Insurance will not be available and the government will not guarantee the rent, therefore homelessness.
Some great thinking by those of little experience and no knowledge of business except running a budget given by others and spending it with no responsibilities or penalties.
Cider Drinker
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Sign Up10:41 AM, 12th December 2024, About 11 months ago
Labour won the last election because the Tories had been so bad for 14 long years. They failed to deliver a meaningful Brexit and when it came to the fight, they’d given up.
The media were keen to prevent Reform UK from doing better than they did.
Now, Labour are building 1.5 million homes for migrants. By 2029, there is likely to be 4 million more non-Reform UK voters imported into the country.
The country is screwed. The West is screwed.
If, as some suspect, Putin is behind many of the gangs of people smugglers, he is winning the war and it’s much wider than just Ukraine.
Jason
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Sign Up13:23 PM, 12th December 2024, About 11 months ago
Another pointless “survey” with no actual numbers or context. What were the questions? How many people did they ask? What was the democratic? No link to the source.
Stella
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Sign Up14:05 PM, 12th December 2024, About 11 months ago
Reply to the comment left by John Curtis at 12/12/2024 – 10:35
Spot on!
It is evident that those representing us have no idea of what it was like for the PRS landlord pre 1986
The government are getting away with bringing back these draconian laws again.
Ryan Stevens
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Sign Up14:11 PM, 12th December 2024, About 11 months ago
Unfortunately, there are a lot more tenant voters than landlord voters, so any government will just pretend they are helping tenants. Even though there are fewer properties to rent and higher rents, and all the landlords are big businesses, who don’t care about tenants.
Robin Wilson
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Sign Up16:02 PM, 12th December 2024, About 11 months ago
Why would you vote Labour under any circumstances? Starmer is a socialist. He said so. They are the party of tax, spend and bust. Always have been. The only difference this time is that roles have been reversed. Usually the Tories are more trusted with the economy and Labour wreck it. But as the Tories drifted so far to the left, it was they who wrecked the economy on this occasion. Not least because of a welfare bill and National Debt, both of which are out of control. We are heading towards a day of reckoning where the markets will not tolerate any more borrowing. Then everything will come crashing down. Be warned!
Philip Wright
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Sign Up19:07 PM, 12th December 2024, About 11 months ago
should have voted reform, the only party with common sense at it’s heart
GlanACC
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Sign Up8:42 AM, 14th December 2024, About 11 months ago
Any landlord that voted Labour deserves to go bust, I have no sympathy with them.