Please note, this story was originally published via property118 and can be found here
In a speech made by Sir Keir Starmer to the Labour party conference in Liverpool, Sir Keir said he would promote home ownership – and stop buy-to-let landlords and second homeowners ‘getting in first’. Saying his government will clamp down on buy to let landlords if his party takes power.
A Labour government would also offer ‘real’ first-time buyers a mortgage guarantee scheme.
Promises to clampdown on BTL landlords.
The relevant part of Sir Keir’s one-hour speech that promises to clampdown on BTL landlords is below:
“I’ve seen home ownership rise almost my entire life – it’s the bedrock of security and aspiration. That pebble-dashed semi meant everything to my family. But now, under the Tories, the dream of owning your own home is slipping away for too many.
“And that’s a political choice. Because if you keep inflating demand without increasing supply house prices will only rise. And homes become less affordable for working people.
Clampdown on Buy-to-let Landlords?
“No more buy-to-let landlords or second homeowners getting in first. We will back working people’s aspiration. Help real first-time buyers onto the ladder with a new mortgage guarantee scheme. Reform planning so speculators can’t stop communities getting shovels in the ground.”
Legislation to prevent landlords from buying properties?
While there’s not a lot of detail in Sir Keir’s speech, there’s no indication on how legislation can be drafted and then passed to prevent landlords from buying properties – or would Labour opt for a fiscal solution that would make it impossible for landlords to buy homes to rent out?
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