Right to buy on privately rented homes

sst1234

What does everyone think about this with a possible general election looming in October.

https://www.thisismoney.co.uk/money/buytolet/article-7419041/How-McDonnells-Right-Buy-buy-let-homes-work.html

Yes it’s the daily mail, but is it beyond the realms of possibility where this Labour Party is concerned?

MovingForwards

There's already a huge thread going

Norman_Castle

MovingForwards wrote: »

There's already a huge thread going

Where?......


Cameron bought votes with the HA right to buy. Potential looming election and Labour announces a baited hook, private tenant rtb. If it happened it would be very watered down likely to be a right of first refusal or a minor discount. Landlords won't fund it and governments couldn't afford to.

MovingForwards

https://forums.moneysavingexpert.com/discussion/6043359/right-to-buy-to-private-tenants

DannyGold

“The suggestion is a twist on Margaret Thatcher's flagship Right to Buy policy, which in 1980 gave council tenants the right to buy their council house at a large discount from their local authority.”

With rent caps mandatory the LLs would be better off selling at the reduced rate than being forced to keep renting at such low rates.

Labour Party will be very good for renters and very bd for property owners

chucknorris

DannyGold wrote: »

“The suggestion is a twist on Margaret Thatcher's flagship Right to Buy policy, which in 1980 gave council tenants the right to buy their council house at a large discount from their local authority.”

With rent caps mandatory the LLs would be better off selling at the reduced rate than being forced to keep renting at such low rates.

Labour Party will be very good for renters and very bd for property owners

But if the Labour party win the next election, this would take a while to implement, and many landlords (myself included) will ensure that they sell on the open market prior to this scheme being introduced. Which is why it wouldn't actually be good for the private rental market. I really can't see this being introduced anyway.

DannyGold

chucknorris wrote: »

But if the Labour party win the next election, this would take a while to implement, and many landlords (myself included) will ensure that they sell on the open market prior to this scheme being introduced. Which is why it wouldn't actually be good for the private rental market. I really can't see this being introduced anyway.

Of course all the lines of people waiting to buy these millions of properties that all flood the market will live in them themselves and no put them into the rental market?

It not looking good for the perma prop bulls.

“The UK’s 2.6million landlords would also face higher taxes, Mr McDonnell said.”

Read more: https://metro.co.uk/2019/09/02/renters-could-get-chance-to-buy-from-their-landlords-under-labour-plan-10669092/?ito=cbshare
Twitter: https://twitter.com/MetroUK | Facebook: https://www.facebook.com/MetroUK/

chucknorris

DannyGold wrote: »

Of course all the lines of people waiting to buy these millions of properties that all flood the market will live in them themselves and no put them into the rental market?

It not looking good for the perma prop bulls.

“The UK’s 2.6million landlords would also face higher taxes, Mr McDonnell said.”

Read more: https://metro.co.uk/2019/09/02/renters-could-get-chance-to-buy-from-their-landlords-under-labour-plan-10669092/?ito=cbshare
Twitter: https://twitter.com/MetroUK | Facebook: https://www.facebook.com/MetroUK/

If it looks like the scheme is possibly going to be introduced, investors will not be interested in houses as an investment.

Renters won't be able to rent them out, at least not straight away, otherwise they would have to pay back the discount.

DannyGold

chucknorris wrote: »

If it looks like the scheme is possibly going to be introduced, investors will not be interested in houses as an investment.

Renters won't be able to rent them out, at least not straight away, otherwise they would have to pay back the discount.

At the end of the day, it’s all downwards pressure on house prices

chucknorris

DannyGold wrote: »

At the end of the day, it’s all downwards pressure on house prices

I've already made my capital growth, so I'm not that bothered, and already sold 2 properties in the last 2 years (plus my wife has sold one too).

It isn't going to happen anyway!

DannyGold

chucknorris wrote: »

I've already made my capital growth, so I'm not that bothered, and already sold 2 properties in the last 2 years.

It isn't going to happen anyway!

Let’s hope you can sell before the big falls coming