Right To Buy From Landlord (Labor Proposal)

geoffssavings

As already mentioned by other members there is no white paper, its just a fake carrot to grab more more private renters votes. A bill like that would never get through a parliament that's filled MP's who own land & property.

caprikid1

I suspect it will not grab renters votes, its will grab private landlord votes for the Tories.


Fact of the matter is that private landlords are only there because the public sector is failing so badly. If the public sector delivered there would be no business.


Allowing private renters to buy a landlords property at a discounted rate would create a housing crisis of the likes we have never known in this country. Labour may get elected on it but they would never get it through parliament.


The RTB system has created half the housing crisis we have by removing the vast majority of quality social housing replacing it with small tiny badly built shoe boxes.

onwards&upwards

caprikid1 wrote: »

I suspect it will not grab renters votes, its will grab private landlord votes for the Tories.


Fact of the matter is that private landlords are only there because the public sector is failing so badly. If the public sector delivered there would be no business.


Allowing private renters to buy a landlords property at a discounted rate would create a housing crisis of the likes we have never known in this country. Labour may get elected on it but they would never get it through parliament.


The RTB system has created half the housing crisis we have by removing the vast majority of quality social housing replacing it with small tiny badly built shoe boxes.

Pretty sure private landlords already vote Tory! Or maybe UKIP/Brexit party.

Public sector housing is failing because of RTB meaning loads of it is now in the hands of private landlords.

Compulsory purchase by LAs would be better imo.

Comms69

onwards&upwards wrote: »

Pretty sure private landlords already vote Tory! Or maybe UKIP/Brexit party.

Public sector housing is failing because of RTB meaning loads of it is now in the hands of private landlords.

Compulsory purchase by LAs would be better imo.

That's a common misconception, most landlords wouldn't fall into the typical tory voter (though im sure many would also)


Councils don't have the funds to be buying out at market value, fighting challenges and covering costs.

caprikid1

"Public sector housing is failing because of RTB meaning loads of it is now in the hands of private landlords. "


Sorry I didn't realise Landlords could access RTB and buy properties from the council. My mistake.

Murphybear

So think about what might happen.

Typical LL doesn’t want to give away, sorry, sell, their property for less than their mortgage.

They may sell privately before the tenant is eligible or give the tenant S 21 instead.

This means a higher turnover of tenants which is not much fun for the tenants or LL

What would happen if the tenants do end up buying? The stock of available property would fall, possibly drastically.

We all know there is not enough social housing to go round. With a sudden drop in private rentals as well, result, more homelessness. How would the Labour Party deal with this?

Who is going to invest in becoming a LL in future if they know the property could become compulsory purchased at a discount?

onwards&upwards

caprikid1 wrote: »

"Public sector housing is failing because of RTB meaning loads of it is now in the hands of private landlords. "


Sorry I didn't realise Landlords could access RTB and buy properties from the council. My mistake.

That’s not what I said though is it?

Gemigem

:eek: Agree a terrifying proposition.

FreshFruit wrote: »

" Shadow Chancellor John McDonnell has today proposed a new ‘Right-to-Buy’ scheme for private sector tenants to tackle what he describes as the “burgeoning buy-to-let market” and the problem of landlords who do not maintain their properties.

McDonnell said that, should Labour win the next election, the party would bring in legislation allowing tenants to buy their rental home – and not necessarily for the market price.

He told the Financial Times: “You’d want to establish what is a reasonable price, you can establish that and then that becomes the right to buy.

“You (the government) set the criteria. I don’t think it’s complicated.” "

-Source RLA News

anybody else here about this? It terrifies me. Apparently they would be able to buy it at a reduced market rate simular to the way the council right to buy works (up to 35%++ off) depending on how long they have lived there.

I imagined I had a 100k home, £350 mortgage/expenses and £500 rent, somebody rents it for 3-5 years and I make an OK return, but then they apply to buy it and i'm forced to sell it for -35% less, 65k? I'd have lost out big time.

Surely landlords would just kick tenants out after 2yrs? Get a new one in.

Read one article who said that decent landlords would suffer the most as they would be more likely to have long term tenants, the scumlords who have new tenants all the time wouldn't be impacted as much.

Gemigem

Once again small landlords will be clobbered who have saved and invested their pensions for the future. Why are these types of small businesses with a small return constantly being targeted?
Why should people who have done the right thing and tried to save for their future have their investments taken from them for below market price? Have kept the same tenants and kept the rent down for them at well below market price but feel now may have to ask them to leave to avoid the loss of my property/retirement pension. Already am out of pocket after trying to do the right thing and keep the property upgraded and in good repair. This could potentially be adding to the homelessness problem by forcing decent landlords out of the business. Hope this policy never becomes law.

sevenhills

davidmcn wrote: »

Any Corbyn-led government is likely to be a coalition of some sort, not one with the sort of landslide victory he'd need to start passing radical leftwing policies (given the likely opposition from some of his own parliamentary party).

I guess Thatcher was left-wing too