The Council of Mortgage Lenders has made a twin attack on the Government over high taxes and the regulation of landlords.
Senior policy adviser Rob Thomas reiterated the CML’s long-held view that the stamp duty and inheritance tax thresholds are too low, meaning that thousands more homes are saddled with tax burdens every year.
He also claims that professional landlords on buy-to-let deals are under pressure from too much bureaucratic regulation.
Thomas said: “People in modest £250,000 homes pay IHT and high stamp duty as the threshold levels have not moved in line with house price inflation. Homeowners are a huge cash cow for this Chancellor and are being milked by the taxman.”
On regulation, he said that landlords who require authorisation under houses in multiple occupation regulation have too many unn-ecessary obligations to comply with.
He said: “We have lobbied against HMO licensing and deposit protection schemes as they are overly bureau-cratic. Even within the reg-ulation, there are some cur-ious things such as every bedroom having to have a washbasin.
“You would have thought that those setting the rules would remember their student days when living in shared accommodation. They are confusing shared accommodation with bedsits.”