Month: July 2017

Buy to Let – a scourge on our society.

The last blog I wrote was about a dream house we’d found and put a sealed bid on. Unfortunately (or fortunately) we were unsuccessful in bidding on this house, as we were trounced quite heavily by an investor with deep pockets. The dream house has now been sold to a Buy-To-Let owner and will be ‘tarted up’ and put on the rental market.

My personal feelings towards people who use housing as a way of propping up their pension is quite a strong opinion. As a woman in her early thirties, I know how hard the average Joe has to work to pay extortionate rents. I know first hand how unsettling it is living in a private rented house or flat, when any minute an eviction notice can be shoved through the door. In fact, my partner has recently been evicted from his flat due to the owner selling up – that’s happened to him twice in less than two years.

This country is in the middle of a housing crisis. There are more and more buy-to-let owners out there, and it doesn’t seem to be slowing down – even with the increase in fees for BTL owners. You see on property programmes men and women in their early sixties with property ‘portfolios’ and it disgusts me. I firmly believe that there should be a cap on the number of properties one is allowed to own. There are simply too many rental properties and not enough houses to buy at affordable prices.