Thursday, October 23, 2008
Government’s Rugg report recommends licenses for landlords
Landlords will need a licence-to-let and a business plan to take out a mortgage, under proposals published by the Government today. In a report that could sound the death knell for amateur buy-to-let investors, independent housing policy experts recommended a raft of measures that would turn letting property into a business rather than a bit of cash on the side. The licence, which could operate a bit like a driver’s licence, would mean that landlords who fail to measure up could have points deducted or lose their licence altogether and be banned from letting property.