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Landlords call for Government to repeal mortgage interest relief changes

Most New Year’s resolutions have probably already been broken by now but Simple Landlords Insurance is hoping the Government is still feeling receptive about change.

The insurer’s latest Landlord Voice poll showed that repealing the mortgage interest relief changes topped buy-to-let investors’ resolutions for the Government in 2017.

Almost half (47%) said the tax increases should be scrapped, while others wished for an end to higher Stamp Duty charges and a reduction in Capital Gains Tax.

Despite the pressure, many landlords are still optimistic about the future, and 36% of respondents rated their confidence level in the year ahead at 8 out of 10 or higher.

Additionally, 88% plan to remain as landlords for the next year and a third plan to increase their portfolios.

Jenny Mayes of Simple Landlords Insurance said: “We strongly urge Chancellor Philip Hammond to listen to landlords’ concerns.

“Landlords should be supported and recognised for their contributions in providing affordable housing, rather than burdened with unfair tax measures that will see them having to take considerable cuts to their income and being forced to pass some of this to their tenants.”

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