Call for buy-to-let property register

Published on

Property investment search portal Buy2Let.com has launched an online petition via the UK Parliament portal, calling for a national register of buy-to-let private rental properties.

While owner-occupier property transactions are recorded and analysed via the Land Registry, founder of Buy2Let.com, Martin Wilkinson, is campaigning for a register of transactions by buy-to-let investors, to help quantify the market and root out the rogue landlords.

Despite recent attempts by Government and The Bank of England to stifle the buy-to-let sector, the acute shortage of homes and increasing house prices means that the private rental sector continues to pick up the slack. he said.

Wilkinson said: “We frequently see reports and statistics on the owner-occupier market, but the lack of reliable, comprehensive data on the private rental and buy-to-let sector means no-one – including politicians, mortgage lenders and estate agents – has a clear picture of what is happening in the market. In much the same way as a mortgage charge is registered on traditional house sales, we think there should be a similar requirement for buy-to-let purchases.

“The buy-to-let sector generates over £100bn in transactions every year, so it’s vital that we capture the true scale of this important market, and at the same time, use the data gathered to identify and stamp out malpractice and rogue landlords.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

1 COMMENT

  1. to call for a register of nuy to let properties is just a request for more bureacracy. Already some councils are taxing buy to let properties with their licence fee. More and more rules and fees are guaranteed to reduce the amount of properties available for rent.

Comments are closed.

Latest articles

Sale-and-rent-back operator jailed after exploiting struggling homeowners

A man who ran an unauthorised sale-and-rent-back scheme targeting homeowners in financial difficulty has...

Hanley Economic appoints risk committee chair

Hanley Economic Building Society has appointed Mark Curran as a non-executive director and chair...

Mortgage myths leaving many first-time buyers stuck on the sidelines

Millions of aspiring homeowners may be delaying plans to buy because of widespread misconceptions...

AI could shift mortgage underwriters from processors to auditors, analysis suggests

Advances in AI-driven underwriting could transform the role of mortgage underwriters, with technology now...

Access FS opens Canary Wharf hub

Mortgage and protection brokerage Access Financial Services has opened a new London office in...

Latest publication

Other news

Sale-and-rent-back operator jailed after exploiting struggling homeowners

A man who ran an unauthorised sale-and-rent-back scheme targeting homeowners in financial difficulty has...

Hanley Economic appoints risk committee chair

Hanley Economic Building Society has appointed Mark Curran as a non-executive director and chair...

Mortgage myths leaving many first-time buyers stuck on the sidelines

Millions of aspiring homeowners may be delaying plans to buy because of widespread misconceptions...