Thursday, 27 September 2012

Taxpayers subsidise buy-to-let landlords by £2bn

Buy-to-let landlords are enjoying a tax subsidy in the UK worth £2bn a year – the same amount being axed from the national housing benefit budget, research from investigative website Exaro, reveals.

That figure is expected to rocket to £3bn in coming years, raising questions about whether buy-to-let (BTL) should be subsidised so heavily by other taxpayers.

Landlords currently own 1.4m properties with a collective BTL mortgage of £160bn as of June - up 250,000 since the financial crisis of 2008, according to the Council of Mortgage Lenders.

Click here to read the whole article Taxpayers subsidise buy-to-let landlords by £2bn