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

FCA charges banned broker over alleged unauthorised mortgage advice

The Financial Conduct Authority (FCA) has charged Shaun Lawrence with operating as a mortgage...

TPFG invests in L&G surveying services parent to strengthen lender links

The Property Franchise Group has taken a 25% stake in Meridian HoldCo, the parent...

Bank holds rate as energy shock clouds mortgage outlook

The Bank of England has held Bank Rate at 3.75% as policymakers assess the...

NatWest launches mortgage guidance through ChatGPT

NatWest Group has become the first UK bank to launch an app in ChatGPT,...

Brokers told not to wait for FCA review before reassessing later life lending advice

Brokers should reassess how they approach older borrowers now rather than wait for regulatory...

Latest publication

Other news

FCA charges banned broker over alleged unauthorised mortgage advice

The Financial Conduct Authority (FCA) has charged Shaun Lawrence with operating as a mortgage...

TPFG invests in L&G surveying services parent to strengthen lender links

The Property Franchise Group has taken a 25% stake in Meridian HoldCo, the parent...

Bank holds rate as energy shock clouds mortgage outlook

The Bank of England has held Bank Rate at 3.75% as policymakers assess the...