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27 April 2015
 
 

Landlords and the General Election

Signpost, political partiesThe general election is looming and landlords across the nation will be wondering who to vote for. With the British property market booming parties are placing a heavy focus on how to win over homeowners. Yet with all the promises and pledges being thrown around, it can be tricky to decide which way to swing. Need help? We’ve got the lowdown on who’s offering what!

Labour

Things aren’t looking too bright for Labour at the moment, with just 19% of landlords planning to vote for Ed Miliband and his crew. This could be due to the fact that they seem to be focussing more on renters than landlords. In particular, we refer to the new ‘fair deal for renters’ scheme will see tenancies upped to three years. That said, Labour has promised to boost home ownership by constructing 200,000 new homes in the next five years, as well as forcing letting agents to be more transparent when it comes to fees.

Conservatives

According to the polls, 51% of landlords are planning on voting for David Cameron. He’s also gained a huge amount of popularity with landlords-to-be, thanks to his promises to free Brits who are trapped in the rental cycle. His proposed ‘Help to Buy’ scheme will offer new homebuyers access to 5% deposit deals, as well as new home discounts of up to 20% for buyers under 40. “Conservatives take a liberal approach to the rental market, opting not to interfere with rent prices and tenancy lengths. This is good news for landlords should the Tories remain in government,” explains, Rentify, the group that carried out the survey.

Liberal Democrats

Despite the fact that the Lib Dems plan on launching a brand new ‘rent to own’ scheme just 6% of landlords plan on voting for the party. While they may not be offering fantastic benefits for current landlords, landlords-to-be could be won over by such promises.

UKIP

Surprisingly, 17% of existing landlords admitted they’ll be voting for UKIP in the upcoming election. Led by Nigel Farage, the party will offer stamp duty free homes on brownfield sites.

While there are some great benefits on the horizon for British landlords, it’s important to remember that despite the upcoming perks, specialist landlord insurance is still a must! Are you a landlord? Which way will you cast your vote in the upcoming general election?

[Image credit: University College London Union]