Insurance News Archive
Buy to let landlord insurance holders 'need govt help with house repairs'
Posted by Jonathan Walker
A leading organisation is urging the government to assist landlord buy to let insurance policyholders in the private rental sector as the market comes under increasing pressure.
Ian Potter, operations director at the Association of Residential Letting Agents (Arla), said that the private rental sector was "shouldering the burden" of the lack of housing supply.
He pointed to figures from Arla's most recent survey, which found that 19 per cent of the group's members reported more tenants than available properties.
"What is manifestly apparent is that landlords need governmental assistance in ensuring that stock is of the quality that modern housing standards demand," Mr Potter said.
Arla is calling for the government to remove the VAT on materials and labour for improving older property and introducing capital allowances for landlord buy to let insurance policyholders updating housing stock over a certain age.
Recent figures from moneyfacts.co.uk found that there have been positive signs in the lending market for landlord buy to let insurance policyholders, with the number of loans available rising to 239.
30 Nov 2009
