Tax relief for buy-to-let landlords is damaging first-time buyers’ chances of getting on the property ladder, the Chartered Institute of Housing warned yesterday. Daily Telegraph
The housing body said the government should rein in the buy-to-let market to ease the growing crisis in affordable housing.
Last year, 11% of new mortgage lending was to buy-to-let investors, 57% higher than in 2005.
Landlords can offset the costs of running a rental property against the tax payable on rental income and they can offset mortgage interest, letting agent fees, replacement furniture and repairs.