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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To wonder how Labour’s Right to Buy on privately rented houses would work?

421 replies

Bearbehind · 02/09/2019 10:49

Just read something this morning about Labour proposing Right to Buy on privately rented properties - how would that actually work?

How can they force a private landlord to sell at a discounted rate?

Also, if one of the requirements is you have to have been renting the property for several years, that’s just going to lead to less secure tenancies because landlords will make sure tenants cannot qualify for this.

It seems like a bonkers idea to me

OP posts:
Passthecherrycoke · 02/09/2019 12:58

It is targeted at landlords with 1-50 properties. Theyre all small.

Currently, large landlords do this. Without issue

Passthecherrycoke · 02/09/2019 13:00

Sorry that was correcting OP. I am well aware this targets small landlords- large ones already do it. It’s still not an issue.

Puzzledandpissedoff · 02/09/2019 13:00

Yes, BongosMingo, but many appear to be those who've always voted Labour

To have any chance of forming a government they'd need to attract a heck of a lot of largely silent, floating voters too, and I just don't see it happening. The latest round up of polls is an absolute disaster for Labour: www.markpack.org.uk/155623/voting-intention-opinion-poll-scorecard/

Passthecherrycoke · 02/09/2019 13:01

Mummy this way is a cheaper easier and faster way of dealing with them than properly funding local authorities though isn’t it?

And that’s before we start debating whether they would be effective at it anyway

BongosMingo · 02/09/2019 13:03

This reply has been withdrawn

Message from MNHQ: This post has been withdrawn

Original poster
Bearbehind · 02/09/2019 13:03

cherry why isn’t it an issue?

Say I have a rental property I plan to use as retirement income then pass on to my children, how is it not an issue to be forced to sell it?

Plus, where does the money to fund the discount come from?

OP posts:
familycourtq · 02/09/2019 13:06

YABU - Most of your questions are answered on Labour's website already so YABU to "wonder" how it would work.

BongosMingo · 02/09/2019 13:06

This reply has been withdrawn

Message from MNHQ: This post has been withdrawn

Passthecherrycoke · 02/09/2019 13:07

There is money to fund the RTB discount. Why do you think there isn’t? Do you think the government have no money? Where do you think all the Brexit money comes from? The DUp money? They managed to magic that up didn’t they?

Not to mention they will already fund an unlimited number of RTBs on a pool of properties many times greater in size than those held by private landlords.

If you’re forced to sell your retirement property you could either use the cash to buy another, ensure you stay within the rules which means you wouldn’t be vulnerable to RTb (student renting, HMO, sort term, Air bnb) or, more sensibly, put your money elsewhere for retirement.

BubblesBuddy · 02/09/2019 13:08

Better sell my one rental house quickly then! I’ve already got tax to pay if I sell it! Hopefully tenants won’t want it. Labour just says why they think people want to hear rather than worked through policies. If more housing is required, built it. There is no substitute! This proposal doesn’t house any more people. That’s what Labour should be looking at. This policy is pointless, other than legitimising daylight robbery of course.

Teddypicker1 · 02/09/2019 13:08

If you can only afford to live in a slum type rental, then you probably can't afford the mortgage, unless it's very discounted. And if you do manage to buy it, where will you get the money from to then do it up. If you've watched the slum landlords show on channel 5, you'll see how shitty some of these houses are.

It would make more sense for the government to take the house as council housing stock and then rent back at council House rates to the tenants.

Puzzledandpissedoff · 02/09/2019 13:08

It's terribly sad because he goes after the vulnerable in society

Well yes, but as with Bongos example of the tax credits, get enough people relying on Labour's promised largesse and that's a handy voting bloc to rely on

Original poster
Bearbehind · 02/09/2019 13:10

YABU - Most of your questions are answered on Labour's website already so YABU to "wonder" how it would work.

🤔

I can’t see where my questions are answered - it’s very light on detail isn’t it?

OP posts:
Teddypicker1 · 02/09/2019 13:11

Say I have a rental property I plan to use as retirement income then pass on to my children, how is it not an issue to be forced to sell it?

I think a lot of people are of the opinion that houses should be homes avaliable and affordable for everyone. Not investments for the wealthy or retirement funds.

Original poster
Bearbehind · 02/09/2019 13:12

There is money to fund the RTB discount. Why do you think there isn’t?

Because it’s not a priority.

What do the government gain by paying to move private renters into homeownership?

OP posts:
Original poster
Bearbehind · 02/09/2019 13:14

I think a lot of people are of the opinion that houses should be homes avaliable and affordable for everyone. Not investments for the wealthy or retirement funds.

Maybe, but my point is, these plans would make tenants less secure the way I see it because they’d be forced to move before the qualifying time for a discounted purchase had lapsed.

OP posts:
Alsohuman · 02/09/2019 13:17

Oh @Bluntness100! And while Boris is throwing bungs at the electorate as fast as he can make them up, having apparently found a magic money forest.

Original poster
Bearbehind · 02/09/2019 13:18

YABU - Most of your questions are answered on Labour's website already so YABU to "wonder" how it would work.

The Labour website is certainly eye opening - it’s not exactly up to date is it 😂

They haven’t even bothered to update the Brexit section and still refer to ‘whoever will be the next PM’

OP posts:
QualCheckBot · 02/09/2019 13:19

YABU - Most of your questions are answered on Labour's website already so YABU to "wonder" how it would work.

No, they're not. Its a very clear breach of the First Protocol to the European Convention on Human Rights, the protection of property, and also of English common law. In fact, every single civilised society in the world is marked by a recognition of the importance of protection of human rights to property. In modern societies, where state appropriation of property occurred, it led to mass misery, displacement of populations and ruination of indigenous cultures - the Soviet Union is a prime example.

So it would definitely have to be combined with an election promise not only to leave the EU, which has with its Fundamental Charter of Human Rights, has even greater property protections than the ECHR, but to leave the ECHR and repeal the Human Rights Act 1988.

Lets be clear. This is a proposal to legislate for the state appropriation of property, by the official opposition in the UK. Its terrible that the UK is in this state. We need an effective opposition, not to be faced with the prospect of the Sovietisation of the UK as an alternative to the Tories.

And we all know what would be likely to happen in practice with such a proposal is that it would be rife with corruption, with people's hard earned rental properties being given to the spoilt brat offspring of the local Labour Party official.

Juells · 02/09/2019 13:20

(student renting, HMO, sort term, Air bnb)

Which means those properties won't be available for families to rent.

BlueDaBabaDee · 02/09/2019 13:22

I assume the discount will mean a convoluted formula to calculate "market rate" which actually would be far below a market rate. I highly doubt this market rate will keep adjusting like a normal market would either. You would probably get a similar set up to how property value is calculated for council tax in some random year. This would bring down house prices as a whole since people wouldn't see the point in being a landlord anymore. I don't see landlords getting anything more because it will be called "market rate" and that will be the end of it. It won't be given the same treatment as compulsory purchases for HS2 since far more homes will be affected and landlords are now being seen as the bad guys.

Passthecherrycoke · 02/09/2019 13:26

That’s not the question. If it was bought into law it would of course be a priority. If it doesn’t happen, it’s not. It’s a moot point.

The government gains a lot by home ownership. Propping up the property market, SDLT revenue, job creation etc.

I understand you disagree with the idea, but it’s not hard to udbedtand

Passthecherrycoke · 02/09/2019 13:26

Understand even

BlueDaBabaDee · 02/09/2019 13:29

If people try to go around the rules (i.e. Airbnb) then they will probably just ban that too like has already been done in other areas of the world.

Bluntness100 · 02/09/2019 13:34

I assume the discount will mean a convoluted formula to calculate "market rate" which actually would be far below a market rate

I had a purchase order on my home due to one of the proposed ru ways.

Effectively what they did was take it back to its value before the runaway was proposed, then they escalate it annually for what it would have risen, to come to what it would be worth if the run way had never been mentioned, then they buy fixtures and fittings, plus a value for uou to move.

People were complaining, it wasn't good enough, however we and our solicitor felt theoretically it was generous. Obviously we would have to have seen the maths, but I bought after seeing it and felt it was sound.

However this proposal is it will be discounted versus market value. I'm not sure by how much, and if people living in those properties could even afford to buy them, never mind if they wished to. You then need to factor in the legalities of the state basically taking something from a private individual that they own without recompense.

And that's before you even look at the likely hood of Jeremy Corbyn being able to win a general election and with a majority.

It's all bullshit to get votes. Like the last round of promises. The taxes, money for the nhs, tuition fees, that end up buried when people question it too much.