Summer Budget: Buy-to-let tax clampdown

Commenting on the announcement of withdrawal of tax relief on buy-to-let mortgage interest for higher-rate income taxpayers, Duncan Stott, director of affordable house price campaign PricedOut, said:

"For too long, buy-to-let landlords have been using an unfair tax break to outcompete first-time buyers and drive house prices further out of reach. This reform will be warmly welcomed by working people who aspire to own their own home instead of paying rent to fund their buy-to-let landlord's mortgage.

"For the Conservatives to be pro-homeownership, it means they must take action against buy-to-let. We hope this excellent move to bring fairness to mortgage taxation will be just the beginning of the reforms needed to get the housing market into a fit shape for first-time buyers."

ENDS

PricedOut is the campaign for affordable house prices, representing would-be first-time buyers unable to afford a home of their own.

Duncan Stott can be contacted on 07986854003 or duncan@pricedout.org.uk


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