Brandon Lewis, the Minister for Housing & Planning was asked last week:
Q: Why does the government want to cut down on landlords and how much do you think the recent measures against them (cuts to mortgage relief tax etc.) will reduce the number of buy-to-let owners?
BL: We do not. I believe the private rental sector is an important part of the housing sector.
The changes create a fairer system, where buy-to-let investors do not have as much advantage over owner-occupiers (who will not have 0 per cent mortgages or the mortgage tax relief that buy-to-let had) plus institutional investment will be able to continue to grow and I fully support the professionalisation of the sector as it grows.
BASTION ESTATES COMMENT: It’s hardly ground breaking news but it’s nice to see something that doesn’t spread negativity with headline grabbing criticism of the UK buy to let landlord. Anyone with any experience of the property market and common sense knows that the recent legal changes to the buy to let market are mostly ‘playing to the crowd’ who want more home ownership. The changes are marginal and the government’s huge committed support of the UK property market supports the overall housing market growth. Tenancy demand is still growing and is set to do so for many many years and almost certainly throughout our lifetimes. In simple, the market is strong and statistics, demand and banking support shows no reason why this will change.