You are here: Home - Mortgages - Buy To Let - News -

Labour plans to block buy-to-let investors

0
Written by:
16/10/2014
Buy-to-let investors could be banned from purchasing new build homes if Labour win the election.

The FT has reported that the plan will be announced today as part of the Lyons review commissioned by Labour leader Ed Miliband to look at ways to improve the housing market.

Labour also plans to introduce rent caps if it comes to power.

Miliband will say in a speech today that councils would be allowed to designate new “housing growth areas” with powers to assemble land and ensure that building takes place.

In these zones, authorities would be able to give priority access for more than 50% of the homes to first-time buyers for the first two months after the homes are completed.

They would also be able to restrict the sale of homes in those areas to stop buy-to-let investors from purchasing them.

Housing campaigners claim that new build properties are often snapped up by foreign investors, often before they’re built.

Related Posts

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Flight cancelled or delayed? Your rights explained

With no sign of the problems in UK aviation easing over the peak summer period, many will worry whether holida...

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

How your monthly bills could rise as the base rate reaches 1.25%

The Bank of England has raised the base rate to 1.25% as predicted – the fifth consecutive rise in just six ...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week