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According to The Sun Newspaper; “Treasury chiefs are planning to hike the extra levy on buy-to-let purchases in a fresh bid to ease the housing crisis.”
The article goes on to say that a government source revealed:
“Increasing the buy-to-let levy is something the Treasury are looking at doing in the Budget.”
“It will be sold as a measure to ease the housing crisis but it’s more about raising money.”
Mark Alexander, founder of Property118 “The Landlords Union” said
“Taxing Landlords to help First Time Buyers is not the way forward.
An increasing number of people are reliant on the flexibility provided by renting, including but not limited to; students, those who need job mobility and also those on low incomes or benefits to whom mortgages are unavailable.
Only by encouraging a significant increase in the supply of quality rental housing will rents be driven down and rogue housing providers out of business. Nobody in their right mind would rent sub-standard accommodation if better alternatives were available. This will only be achieved when supply exceeds demand.
Government housing policy appears to be focused almost exclusively on helping first time buyers at the expense of all else.
The UK needs more housing of all tenures, and this includes privately financed rental housing.
No amount of increased regulation and/or taxation will drive the costs of rent downwards or standards up!
Incentives need to be created to encourage private individuals to bring derelict properties back into use, and to invest into new build developments.”
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