Source · Select Committees · Housing, Communities and Local Government Committee
Recommendation 6
6
We do not agree with the Government’s proposal that only buy-to-let landlords with one other...
Recommendation
We do not agree with the Government’s proposal that only buy-to-let landlords with one other property should be included in the statutory protections for leaseholders. Should the Government continue to treat buy-to-let landlords differently to other leaseholders there are other options available to exclude wealthy property tycoons from the protections without making landlords of more modest means liable, such as basing eligibility on the value of the company that owns the properties, or on the landlord owning a higher number of rental properties. We recommend that the Government publish an impact assessment of these options before undertaking a course of action. The Government should also publish an impact assessment on how its current proposals to exclude buy-to-let landlords with fewer than one other property could affect the progress of remediation. (Paragraph 15) 32 Building Safety: Remediation and Funding
Government Response
Acknowledged
HM Government
Acknowledged
Our policy is fundamentally designed to protect leaseholders living in their own home (including those who have moved out and sublet, and shared owners). All buy-to-let landlords, regardless of their UK property portfolio size, will always be covered for their principal home. We engaged with Parliamentarians and other interested parties on this issue, to make sure that our proposed measures produce a fair outcome for those affected by the cost of historical remediation. We listened carefully to a range of views, and as a result extended the number of protected properties from two to three. This means that leaseholders living in their own home and those with up to three UK properties in total will be protected. In addition, all leaseholders (including those with large buy-to-let portfolios) will be protected from all historical building safety remediation costs where the building owner or landlord is – or is connected to – the developer.