Campaigns Finance and Taxation Reform

Tory MP wants MIR adjustments for landlords offering longer tenancies

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Victoria Barker
Written by Victoria Barker

Conservative MP Kevin Hollinrake MP has called for mortgage interest relief adjustments to be offered to landlords who offer longer tenancies.

The suggestion was made during a debate on temporary accommodation held in Parliament yesterday.

Mr Hollinrake said that longer tenancies should be voluntary for landlords, but there should be incentives.

He said: “I wonder whether one such incentive could be to allow some dispensation around the section 24 mortgage interest provisions that have been introduced, because they have been received quite badly by many landlords.

“If landlords are willing to offer longer tenancies, perhaps there should be some dispensation around how we treat mortgage interest in the private rented sector.”

The RLA has called for tax incentives to encourage landlords to offer longer tenancies – which can be risky for them – in its budget submission.

However it has also called on the government to scrap the changes to mortgage interest relief altogether.

 

Read the RLA’s budget submission in full here.

About the author

Victoria Barker

Victoria Barker

Victoria is the Communications Officer for the RLA.

She is responsible for producing articles for our Campaigns and News Centre, the weekly E-News newsletter and media review, and creating social media content. She also contributes to our members magazine, Residential Property Investor.

1 Comment

  • The thing is of course that the government doesn’t understand that most lenders require 6 month ASTs so if you have a mortgage, this won’t work & if you don’t have a mortgage then tax relief won’t matter either> DUH!

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