Could a referendum save the BTL mortgage

The latest proposal from David Cameron of giving the British people a referendum and a choice on whether we stay in Europe is a welcome development.  Anybody who believes in democracy surely can't object to have an opportunity to give their view.  Lets face it - over the last few years over 50% of the rules governing the way you live you would have had NO opportunity to post your dissent as the laws will have been passed by a load of unelected 'Eurocrats.'

Europes threat to the Buy-to-let mortgage.

We have written previously about the threat from Europe wide legislation on the UK's buy-to-let mortgage.  In fact over 3000 landlords have already signed our petition to save the buy-to-let mortgage. This is a prime example of a one size fits all mentality that is unavoidable in a European superstate.  Good ideas, innovation, variety are all sacrificed at the alter of European uniformity.  The European Union are blindly pursuing a policy of trying to outlaw the UK's buy-to-let mortgage because their mortgage industry is outdated and exists along the lines that if you don't have a massive income already, you shouldn't be allowed to invest your money in property to build a better future for yourself or your family.  I know I write in emotive tones. But in essence without the existence of the buy-to-let mortgage, which allows a landlord to borrow against the strength of the rental income generated by a proposed buy-to-let investment.  I like many other UK landlords on a modest income wouldn't have been able to build up a property portfolio.

European Referendum

Let hope that the proposed European Referendum will come in time to save the UK's buy-to -let mortgage.  Otherwise it will be yet another good idea sacrificed at the alter of European conformity and regulation.

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