LETTING & ESTATE AGENT

Following the government’s update on 13th May 2020 regarding home moving in England during the Covid-19 outbreak, we are pleased to announce our branches in England will start re-opening their doors for booked appointments over the coming weeks. Health and safety remains our main priority, and a number of strict measures will be put in place to protect our staff and customers. Our offices in Scotland and Wales will continue to support customers from home. Visit our branch page to find contact details for your local office.

Labour plans to block landlords from buying new homes

Labour plans to block landlords from buying new homes

The letting agent and landlord community is still coming to terms with the news that Labour wants councils to have the power to ban buy-to-let investors purchasing new-builds in what the party is to designate as 'housing growth areas'.
 
The announcement, made by party leader Ed Miliband yesterday, follows on four already-announced Labour policies aimed at what it calls 'reforming' the private rental sector - the introduction of rent controls, mandatory longer-term tenancies, restrictions on tenant evictions and a compulsory register of landlords.
 
Many individual landlords and private rental sector analysts have clogged social media with complaints that the new buy to let 'ban' would drive investors into the second hand market, causing exactly the same pressures as with new builds and so making them less affordable for local owner-occupier purchasers.
 
Other agents and landlords say the Labour ban would effectively reduce the quality of the private rental sector at a stroke, by obliging any expansion of the stock to take place through existing homes - many of which are less suitable and less attractive to tenants than new-builds.
 
The Residential Landlords' Association says the ban on BTL investors purchasing new-build homes will "choke off investment in the only housing tenure that has been growing" and is driven too much by concerns about the level of international off-plan purchasing of new homes in central London.
 
Meanwhile the National Landlords' Association says Labour has failed to understand the difference between 'buy to let' and 'buy to leave'.
 
"It's only large scale investors who buy properties and leave them empty: not landlords." says NLA chief executive officer Richard Lambert.