Wed, 31 Aug, 2016
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Buy to let sector to get government review

The government has announced its intention to review the buy to let property sector in the UK as part of a wider initiative.

According to the department for Communities and Local Government (CLG), the buy to let sector is becoming an increasing important aspect of the housing industry and as a result should form part of a review of issues affecting tenants across the country.

With more than 2.6 million properties currently being rented out, the CLG is planning to establish what concerns and problems are facing both tenants and buy to let landlords around the UK.

Yvette Cooper, minister for housing, said: "We have seen a big increase in the private rented sector and particularly in buy to let. It is important we review the impact of this."

Ms Cooper went on to suggest that in many cases both tenants and landlords are unaware of the rights and obligations they each have in their different capacities.

Meanwhile, a recent report from the Royal Institute of Chartered Surveyors claimed that the cooling of the UK's housing market is having a negative knock-on effect on the number of new properties being built nationwide.