A leading body representing Buy To Let insurance policy holders has warned that the election could be used as an excuse to not support the growth of the private rented sector.
The Association of Residential Letting Agents (Arla) says that the majority of its members express concerns that this is exactly what will happen. Furthermore 58% of the members it surveyed recently said they felt the government’s approach to expansion will be the number one factor in the type of growth seen in the property sector over the coming year.
Arla is most concerned about what it calls ‘prohibitive barriers to further investment’ such as stamp duty. A spokesperson had this to say
“Landlords must be treated as the businesses they have now become and afford them the taxation criteria which will incentivise the improvement of stock, and therefore the conditions which tenants live in,”
The issue of stamp duty just will not go away and i feel its mere persistence will eventually force the government to review its policies.
Speaking of policies, the budget is shortly upon us. I expect there will be enough contained in there to provide this blog with talking points for a week. I, for one, am looking forward to seeing what develops.
