They came over the weekend and this morning...
The controversial rent cap policy… three-year tenancies to become “the norm” (although how this can be enforced is a mystery), with rent increases within those three years limited to inflation. (Plus a ban on letting agents charging tenants fees.) There are no plans - and this is important - to limit rent rises between tenancies or after the three-year duration of an agreement. However, they are proposing a rule of transparency, give new prospective tenants the right to know what the previous tenant was paying. Aren’t three-year agreements good for landlords, too? Aren’t most reasonable rent increases between tenancies outweighed by the fees associated with preparing a property and finding a new tenant, plus any resultant void periods? The panic regarding this announcement appears to me to be unwarranted.
For first-time buyers… an exemption from stamp duty on properties costing less than £300,000, plus a pledge to build a million new homes by 2020.
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