Landlords take cover ahead of election
14th November 2019
Residential landlords fear the buy-to-let sector could become a political hot potato in the run-up to the general election on 12 December 2019.
The buy-to-let sector experienced a post-recession boom, but its growth has been impeded by a raft of tax measures introduced since 2016.
The Conservative Government introduced a 3% stamp duty surcharge on second homes in April 2016, and followed that up with phasing out mortgage interest tax relief.
By April 2020, buy-to-let landlords will no longer be able to offset any of their mortgage expenses from taxable rental income.
Ending the UK's housing crisis has cross-party support, with the Tories tipped to step up their crackdown on the buy-to-let sector.
Labour, however, previously said it wants to introduce a right-to-buy scheme that would force landlords to sell homes to tenants at a fraction of the price.
The policy mirrors a measure introduced in October 1980 that enabled social housing tenants to buy discounted homes.
Chris Norris, director of policy at the National Landlords Association, said:
"Landlords had to pay market rates themselves. It's only right that, if and when they decide to sell it, they can do so at market rates.
"If political parties wish to fix the housing crisis, they should focus on building more social housing, which is what the housing sector is lacking.
"Landlords should not be punished for the sins of the few, who fail in their obligations to provide tenants with a decent home."
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