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

Labour plans to block buy-to-let investors

Written by:
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.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

Coronavirus and your finances: what help can you get in the second lockdown?

News and updates on everything to do with coronavirus and your personal finances.

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.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
UK average house worth just over £200,000

The average price of a property in the UK has stabilised at £203,135, according to the latest Haart Housing Market...