Ex-housing minister urges government to end the ‘war on landlords’

Ex-housing minister urges government to end the ‘war on landlords’

0:03 AM, 1st February 2024, About 6 months ago 22

Text Size

Robert Jenrick, the former housing secretary, has urged the government to end its ‘war’ on small landlords.

Writing for the Daily Telegraph, he argues that the next Budget should restore mortgage interest relief which was scrapped to discourage buy to let investment.

He claims that this policy has backfired, as many landlords have left the market and reduced the supply of rental properties, especially in rural areas where large institutional investors are less likely to operate.

He also calls for stamp duty reform, either by raising the thresholds, lowering the rates or abolishing the tax altogether.

He says this would stimulate the housing market and encourage more people to take out long-term mortgages of 25 or 30 years, which would offer more stability and affordability for homeowners and renters.

‘We should end the war on small landlords’

Mr Jenrick writes: “We should end the war on small landlords, which has proven to be so counter-productive for renters.

“It’s time to bring back mortgage interest relief for smaller landlords which was removed to choke off the buy to let boom of yesteryear.

“It certainly achieved that purpose, but at the expense of thousands of small property investors.”

He adds: “The market has lost so many landlords that there are not enough properties available for renters, especially outside the big cities where institutional landlords might reasonably be expected to step in.”

‘Turn a corner on the war against housing and landlords’

Mr Jenrick says that the measures he suggests would ‘turn a corner on the war against housing and landlords and give aspiration and economic growth a fighting chance’.

He admits that no single policy can solve the housing crisis, and that increasing demand alone is not enough.

Mr Jenrick also says that the medium-term solution is to ‘build, build, build’ more homes, by reviving planning reforms that would support small builders, cut red tape and environmental regulations, expand new towns, increase urban density and regeneration.

Housing crisis cannot be addressed without tackling mass immigration

He also says that the housing crisis cannot be addressed without tackling the ‘flip side of the coin’ – mass immigration.

The former minister says that the pro-housebuilding movement has ignored the fact that the housing crisis is linked to ‘unprecedented levels of legal immigration’.

He says that he secured a package to reduce legal migration by 300,000, and that further reforms are needed to ease the pressure on housing, especially in major cities.


Share This Article


Comments

JC

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

11:39 AM, 1st February 2024, About 6 months ago

Unfortunately Frank Jennings is pretty much spot on with his statements.
I personally will be weathering the upcoming storm until such time as I cannot 🙁

Frank Jennings

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

11:55 AM, 1st February 2024, About 6 months ago

Well one has to look at what is going on in the bigger picture, to understand where we are being forced to go. Why are the govenment so anti landlord in the first place is a mystery otherwise. It just doesn't make any sense to destroy the small PRS LL.
However, if you see where the globalists and the WEF are taking us, it all makes sense, and is an attempt at homogenisation of all civilisations and cultures, in a mistaken belief that this will prevent wars, make us more controllable and more profitable for large global companies. We will all become wage slaves in the new global surfdom that's coming, working for the man, or living on the streets in cardboard cities.

Mick Roberts

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

13:40 PM, 1st February 2024, About 6 months ago

It's been so Counter productive for the UK's finances, be nice to see how much the Govt got in for Interest relief & stamp duty v's the overall homeless cost.
As in Nottingham, we now at a stage where the homeless bill is way exceeding what they getting in from Selective Licensing. And this is only the start of Licensing renewal.

6 million more people by 2036. Those of us keeping houses can command the earth at the detriment to the vulnerable low earning tenants who's been put in this position by Govt & Councils.

student landlord

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

14:01 PM, 1st February 2024, About 6 months ago

Reply to the comment left by Mick Roberts at 01/02/2024 - 13:40
Absolutely. It would be in everyone’s interest to increase the PRS and generate more revenue from SDLT, income tax and also CGT (which would also increase in a balanced sector). Although as we know, the government has stealthily increased tax revenue by fiscal drag so perhaps they intend to continue by that method. If section 24 and expensive licensing schemes and requirements were reversed would I lower my students rents? Yes ABSOLUTELY. I hate providing a service that’s costs my tenants so much that they are in financial hardship and having to work 50 hours a week as well as full-time study. But with the increased overheads there are two options, try to recoup enough rental to keep going or sell up and that’s 60 odd students with less accommodation choices and therefore paying even higher rents. I know we are all preaching to the converted on here but wouldn’t it be amazing if one day an MP actually read these comments and began to get a grasp of the carnage that they have caused.

Mick Roberts

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

14:54 PM, 1st February 2024, About 6 months ago

Reply to the comment left by York student landlord at 01/02/2024 - 14:01
Ha ha yes, all carnage caused by the MP's. I wrote to JenTwitrick few years ago, got some Codswallop reply, nothing to help the increasing homeless-We know then what he's just starting to see now.

MOH

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

16:27 PM, 1st February 2024, About 6 months ago

I read the article and have written to Jenrick with my thoughts but I don't expect a reply, these politicians have such thick skin, I can't believe the front of the man. To be honest, despite the cost to our businesses and knowing what's ahead for the PRS, I am laughing that these idiots along with their allies in Local Authorities and anti-landlord groups have created this huge crisis, only the scale of the final damage they have caused is in doubt! As I said to Jenrick in my email, the majority of Landlords do not have to be Landlords, whilst the majority of Tenants do have to be Tenants, his Government should have thought about that one! I hope every Landlord sells up in the next few years, I really do.

Oh, by the way, is it me or has anyone else noticed that the likes of Shelter, Crisis, Gen Rent etc (not Acorn) have taken their foot of the Landlord Attack Throttle - maybe someone high up has had a word, I wonder why??

Stella

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

17:56 PM, 1st February 2024, About 6 months ago

Reply to the comment left by MOH at 01/02/2024 - 16:27
They have not put Polly back in her box yet.
In an interview recently she was saying that there is much more damp and mould problems in PRS properties and that councils are much better at dealing with these problems when they arise.
I have first hand experience of the councils inertia when dealing with such problems as I have some ex-council property.
Wrong again Polly!!

Chris @ Possession Friend

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

19:59 PM, 1st February 2024, About 6 months ago

First time, I believe that a politician has actually publicly acknowledged there has been a ' War on landlords ' - but all landlords have known that for a long time.

Arthur Oxford

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

9:59 AM, 2nd February 2024, About 5 months ago

Unfortunately, he's a proven liar after getting involved with Richard Desmond, the old porn baron, with regards to a property development that had run in to difficulties. He used his powers to "call it in" and quash the local planner's ruling. He also did the same with speculative over-developments in Oxfordshire that had been turned down and then he miraculously stepped in to approve them. That's why he got the push. An absolute you know what of the highest order and yet Sunak had him straight back! I've been a lifelong Tory, but no more. While many backbenchers are pretty decent, those at the front are only in it for one thing and, very sadly, don't have an honourable bone in their bodies.

Ed Regent

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

11:46 AM, 2nd February 2024, About 5 months ago

Reply to the comment left by Arthur Oxford at 02/02/2024 - 09:59
Likewise shocked and disappointed that he came back into Government. Shows lack of leadership and depth of talent. God help us!

Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership

or

Don't have an account? Sign Up

Landlord Tax Planning Book Now