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If this is true, it's the worst possible outcome for Labour. It will mean even less affordable accommodation if we accept that renting is cheaper than buying a house. These properties will be bought for home ownership, not for renting.

order-order.com/2024/07/09/lan…


Landlords Across Britain Selling Up Ahead of Labour Crackdown On Rental Market – Guido Fawkes

British landlords are quitting the private rented sector en masse and putting their properties on the market ahead of Labour's first King's Speech. The
Ross Kempsell (Guido Fawkes Organisation)

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Jamie
Jamie
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Renting from the private sector hasn’t been the more affordable option for a number of years now. Perhaps if you take into total cost of ownership (not having to do repairs, replace windows etc), but not in day to day terms.
in reply to Jamie

dick_turpin
dick_turpin
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It still takes that option off the table. I did a very brief search earlier because another thought crossed my mind. Apparently, the least viable lease you can sell on a property is 40 years in terms of what banks will lend mortgages against. So, I wonder if any Landlords will consider selling leases as an immediate cash injection to use on other projects while (hopefully, if they survive) having a retirement asset to sell off once the lease reverts back to them.

I await the "Equity Release For Landlords" scheme. 🤣

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