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. TheRoss Kempsell (Guido Fawkes Organisation)
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dick_turpin
Unknown parent • •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. 🤣