Autumn Statement 2016 - Initial Reactions

23 Nov 2016

Tina George, Head of Real Estate at DMH Stallard, said in response to the Chancellor’s ban on letting fees to tenants: “The ban on tenants having to meet the fees of renting property will be a blow for millions of landlords, and whilst more detail is awaited, this is likely to further impact on the profitability of buy to let investments in the future.”

Regarding housing, she added: “While £3.7 billion is being earmarked to boost housing delivery, 140,000 new homes only reflects approximately half of the Government’s annual housing target and the industry will be eager to see further proposals to boost delivery within the forthcoming White Paper.”

Her comments came after the Chancellor’s announcement of a £2.3billion fund to build up to 100,000 houses in high-demand areas, with a Housing White Paper to be published shortly.

Ms George added that it was expected before the Autumn Statement that an announcement would be made in relation to CIL and Starter Homes but said perhaps this will come at a later date with publication of the Housing White Paper.

Further reading

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Covid regs prevent landlords taking action to recover rent for more than 500 days

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Just seven days’ rent arrears used to be enough for commercial landlords to take action; the latest adjustment pushes that out to 554 days
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