Labour want to bail out buy to let landlords? Words fail me
But Rachel Reeves, the shadow chancellor warned that excluding buy-to-let mortgages from the rescue deal risked a “potential snowball problem ... building up” in the private rented sector, amid soaring interest costs.
On Saturday night, she wrote to the Chancellor, warning that the exemption could leave some two million properties out of the deal.
“This could have severe consequences, because not only will landlords potentially hand higher costs directly onto renters, increasing the risk of evictions, it may also result in a rush to sell buy-to-let properties with a knock-on impact on an already disrupted housing market,” she said.
Buy to let landlords have been the scourge of the young and the poor. Outbidding them for housing, driving house prices up and providing insecure tenancies at ripoff rents. Often with slum level conditions, with tenants terrified to deal with issues like damp and mould for fear of spiteful evictions.
Now a potential Labour Chancellor wants to bailout the reckless chancers, who borrowed more than they could afford, so they can continue to ripoff tenants. Rather than letting them go under and increase the supply of housing for first time buyers.
Labour want to bailout ripoff landlords; what is the point of voting for them? Might as well vote Tory.