Hansard

Housing: Buy-to-Let

Volume 693: debated on Tuesday 3 July 2007

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Lord Greaves

asked Her Majesty's Government:

What is their response to the increasing proportion of mortgages and loans for the purchase of housing for buying-to-let.[HL4474]

The Parliamentary Under-Secretary of State, Department for Communities and Local Government
(Baroness Andrews)

The private rented sector has a key role to play in housing people not in homeownership or social housing. The sector has expanded modestly since deregulation of the market in 1989. Buy-to-let mortgage lending has facilitated some of this expansion and has also helped to drive up quality and choice within the private rented sector through investment in newer stock.

Lord Greaves

asked Her Majesty's Government:

Whether they intend to introduce measures to restrict the amount of lending for buy-to-let housing purchases, or to tighten the tax regime in relation to buy-to-let housing.[HL4475]

Lord Davies of Oldham

The Government have no plans to restrict the amount of lending for buy-to-let housing, which will be a matter of commercial judgment for firms. All taxes are kept under review as part of the Budget cycle.