Buy-to-let homes may flood the market following license

04 2008
Private landlords may be required to pay £50 for a permit or license before being allowed to continue renting out their buy-to-let properties if a new scheme is taken into law, it has been reported.

The license is designed to provide an incentive to landlords to keep their properties in a better condition than many are currently found in, as the permit could be revoked if a property is found to fall short of government regulations.

The suggestions come as the number of buy-to-let mortgages has risen dramatically over the past decade and a University of York Centre for Housing Policy study found half of privately-owned rental properties failed government inspection targets.

A statement from property purchasers Decision Homebuyers read: "With cities experiencing burgeoning labour markets, the need for good quality rented housing has become ever more urgent and the proposals for improving and enforcing standards in this sector are needed to help weed out the worst abuses of 'slum landlordism'."

There have recently been suggestions of a wealth of rental properties available as a result of the credit crunch and with new measures being introduced it appears that now is a positive time to be a tenant.ADNFCR-1219-ID-18859190-ADNFCR

Related Articles
Bank could further reduce rates
The Bank of England could reduce base rates yet again this week, perhaps...

House prices reliant on banks' confidence
With many analysts making predictions for the housing market in 2009 there...

Isle of Man bucking house price falls
The Isle of Man saw house prices rise four per cent throughout 2008, one...

Lib Dem Cable talks of record house price slump
Liberal Democrat treasury spokesman Vince Cable has attributed a mix of...

House prices past halfway point
House prices have passed the halfway mark in their fall from their 2007...