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The bank has allocated £1 bn from its £30 bn loan book to provide development and investment finance for the private rental sector.
This week there has been a number of large companies expressing interest in investing in the Private Rental Sector. Companies will not be affected by the income tax rises proposed by the Chancellor for private investors.
According to Property Week Legal and General have announced plans to invest £600m and Grainger Trust also have announced a pledge to announce £850m in the sector.
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Nice one George Osbourne!!
Talk about level playing fields for all etc etc.
Change all the rules so all the big companies will have an unfair advantage over individuals and drive up purchase prices for investors and home buyers alike.
This will also have the effect of pushing rents even higher than they already are for the poorest and most vulnerable in society (yes there is such a thing Maggie)
We will have a similar structure to the USA where large corporations own everything and pay and treat their workers poorly, who of which are superficially grateful for their employment and are lucky if they even own just ONE house to live in for themselves! Its corporate greed!!!
This will mean the average person is even worse off than they already are and will also have no future prospects of ever entering into BTL themselves and controlling their own financial destiny, therefore also decreasing social mobility.
But what more could we expect from a Torie government though? The rich getting richer and the poor getting squeezed!
These changes to taxation regarding stamp duty and mortgage interest relief for individuals must be reversed for everyones sake!!
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