Cross-Party support for build-to-let
The government’s flagship build-to-let policy provides a £10bn debt guarantee and £200m of equity finance for house builders and developers and is aimed at encouraging a wider range of investors to build homes for private rent.
The BPF was part of the nine-strong industry panel that advised the government commissioned review into why institutions did not invest in rented housing and has urged the government to accept all of its recommendations.
Recommendations from the review included providing local authorities with specific guidance on the planning treatment of build-to-let which clarifies that local authorities are able to take into account viability considerations.
Shadow Housing Minister Jack Dromey will say: “Labour’s vision for private renting is of a strong and vibrant sector that is able to attract investment for the long-term but also a reformed sector that meets the needs of those living in it now and in the future, who do not want or currently cannot buy their own home.
“We do not see greater protections for renters and landlords in the sector as a barrier to investment but a pre-requisite for it.
“If the private rented sector is to be one of choice it must meet the needs of those living in it not least the 1.1 million families with children.”