Home on the web - the buy-to-let debate

Home on the web - the buy-to-let debate
NEWS that the taxman is cracking down on landlords elicited huge interest on Times Online: with more than 60,000 page views the story was one of the most read and attracted the highest number of comments – more than 130. Here is a cross-section of your views:

“Buy-to-let should be banned – residential properties are to be lived in, not to make profit out of the poor and first-time buyers.” Des, London

“213,700 new homes were built last year in the UK, according to the Department for Communities and Local Government; 330,000 buy-to-let mortgages were taken in the same period, according to the Council of Mortgage Lenders – that’s 116,300 more than the number of new homes. No wonder it makes sense to ensure they are taxed fairly.” Matt, London

“My tenant pays £675 per week. Yes, per week. That’s not because she can’t afford to buy, it’s because she wants to rent. Like most landlords I have an interest-only mortgage – if I didn’t get tax relief on the interest, I’d put her rent up 40 per cent.” Philippa, London

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“I know at least 20 people who call themselves ‘property speculators’, but who don’t declare their income as such. Property speculation has skewed the market as it is – to avoid tax as well is a disgrace.” Charlie, Cambridge “Buy-to-let does not create a housing shortage; what has created a shortage are people living longer, divorce, immigration, people living alone, and government policies that have made it hard to build. Combine that with low interest rates and prices are bound to rise.” Charles, Bath

“The buy-to-let brigade has caused probably the biggest inequality in British society in ten years. If they haven’t paid enough tax then let’s claw it back and put the money in the public domain.” Gavin, London

“I have been a landlord for 19 years. I have always paid my taxes and expect everyone else in this business to do so as well. Rentals serve people who cannot or do not want to own their own property, such as families on benefit. Statements such as ‘ban residential buy-to-lets’ fail to consider the plight of those who would not have the availability of such housing.” John, Durham

“There would be far fewer private landlords if Mr Brown had not stolen billions of pounds from pension funds since 1997!” Gary, London