UK news
fromwww.theguardian.com
4 days agoShares in buy-to-let mortgage lenders fall after report Reeves plans rent freeze
UK buy-to-let lenders' shares fell due to potential one-year rent freeze proposal by the chancellor.
Housing Minister James Browne has defended the Government's controversial rental reforms which were approved by Cabinet today, claiming supply will increase as a result. The changes, which are due to come into effect on March 1, will give effect to other changes that were previously announced by Government, including the introduction of a six-year tenancies for new tenants. It applies from the start of March for smaller landlords with three or fewer tenancies.
Mr. Browne stated that higher and substantial fines for landlords are being considered as part of new rent and tenancy reforms, while ensuring they remain within legal limits.
Eoin Ó Broin warns the new housing proposals could create a "legal incentive" for landlords to evict tenants, allowing them to charge full market rent thereafter.