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

Acre adds full Nationwide mortgage applications to its CRM

Acre has expanded its integration with Nationwide so brokers can complete a full mortgage...

Key Equity Release teams up with Pense to broaden later life advice

Key Equity Release has entered a partnership with pension specialist Pense as it looks...

Landbay names Scott Leach as Midlands regional account manager

Landbay has appointed Scott Leach as regional account manager for the Midlands as the...

The Retirement Studio joins Rosemount network as new appointed representative

The Retirement Studio has launched as a protection and financial planning appointed representative of...

Debt repayment leads equity release use among younger single men

More than a third of single men aged under 65 are using lifetime mortgages...

Latest publication

Other news

Acre adds full Nationwide mortgage applications to its CRM

Acre has expanded its integration with Nationwide so brokers can complete a full mortgage...

Key Equity Release teams up with Pense to broaden later life advice

Key Equity Release has entered a partnership with pension specialist Pense as it looks...

Landbay names Scott Leach as Midlands regional account manager

Landbay has appointed Scott Leach as regional account manager for the Midlands as the...