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Housing minister claims buy to let tax changes will “create a fairer system”
Housing minister Brandon Lewis has backed the raft of measures seen by many as anti-buy to let, including the restriction on mortgage interest tax relief for landlords, on the curtailed wear and tear allowance and on the three per cent stamp duty surcharge.
In a question and answer session with FT.com yesterday, Lewis – seen by many as one of the best-informed housing ministers of recent years – was asked:
“Why does the government want to cut down on landlords and how much do you think the recent measures against them (cuts to mortgage relief etc) will reduce the number of buy to let owners?”
Lewis responded:
“The changes create a fairer system where buy to let investors do not have as much advantage over owner occupiers (who will not have 0 per cent mortgages or the mortgage tax relief, which buy to let had). Plus institutional investment [Build To Rent] will be able to continue to grow, and I fully support the professionalism of the sector as it grows with more institutional investment.”
Also during the Q&A session, Lewis was also asked whether he would back a public database of so-called rogue landlords. The minister’s response was:
“Our Housing and Planning Bill currently in the House of Lords will introduce bigger fines and banning orders as part of the biggest crackdown on rogue landlords by any government ever. And we will introduce a database of rogue landlords.”
