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Thinktank calls for BTL lending cap to boost home ownership


A new report into the private rented sector is calling on the Government to cap buy-to-let mortgage lending and ban landlords from buying new-build homes in a bid to boost home ownership.

The Strategic Society Centre paper, Whose Home? Understanding Landlords and their effect on public policy, calls for Government to tip the balance back in favour of first time buyers.

In a radical blueprint for reform, the SSC wants to see a moratorium on landlords buying new-build homes for the foreseeable future and six monthly data published on the number of new-build homes sold into the private rented sector.

It also wants buy-to-let lending capped as a proportion of a lender’s total mortgage lending.

The thinktank calls on Government to review all financial incentives and investment returns generated by landlords. It says private landlords are financially secure and the Government should feel confident about introducing extra protection for tenants even if it proves costly.

Today’s report says the landlords represent just 2 per cent of the UK population and have an average age of 48, compared to the average age of 32.

Nearly half of all landlords have total assets worth £30,000 or more and 26 per cent have assets worth £70,000 or more.

The paper also calls for the Government to build new homes, introduce shared ownership, shared equity for tenants and consider rent controls.

It states: “It appears the functioning of the private rented sector serves to reduce levels of social mobility.

“The Government should therefore lead a public debate about the future of the private rented sector and its impact on society, including radical measures to transfer more households out of the PRS and into home-ownership.”



Suffolk Life appoints new operations director

Suffolk Life has appointed Jane Ridgley as operations director. Ridgley, who was previously product director at Suffolk Life’s parent company Legal & General, will be responsible for all operational aspects of administering Suffolk Life’s Sipps. The Sipp administrator has also broadened head of marketing Greg Kingston’s role.  Kingston becomes head of marketing and proposition and […]


George Osborne axes winter fuel payments for expats

Chancellor George Osborne says the winter fuel allowance will be subject to a “temperature test” from April 2015 to stop expats in hot countries receiving the payments. Speaking in the House of Commons last week to deliver the Government’s comprehensive spending review for 2015/16, Osborne said spending money on winter fuel payments to expats is “not […]

Money Marketing Service Ratings launches

The Money Marketing Service Ratings has launched, creating a new benchmark for provider service which we hope will drive up standards. Provider service ratings have been awarded across 13 product categories, reflecting detailed analysis of more than 27,000 ratings by 885 advisers.   Adviser and administrator respondents were asked to rate providers’ general service performance […]

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Guide: how to… audit your auto-enrolment scheme compliance

As the Pensions Regulator starts to bare its teeth and the changes mentioned in the Budget and Queen’s Speech start to come into force, it is essential that you understand your scheme and the processes you need to undertake to ensure it remains compliant. Our second re-enrolment guide looks at how to audit the key areas of your auto-enrolment scheme.


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