28 Sep 2022

The leader of the Labour Party, Sir Keir Starmer, says his government will clamp down on buy to let landlords if his party takes power.

In his speech to the party conference in Liverpool, Sir Keir said he would promote home ownership – and stop buy to let landlords and second homeowners ‘getting in first’.

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.

“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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