18 Jul

Call for govt to support lettings market

Call for govt to support lettings market

Many letting agents are calling on the government to do more to help boost the UK letting sector following the Brexit vote.

Some agencies have reported a slowdown in interest following the decision to back leaving the European Union and the resulting uncertainty within the housing sector.

Concerns have been raised there a drop investment and plus to cut the mortgage tax relief offered to landlords could undermine the long-term future of the UK rental market.

“With the Bank of England hinting at further reductions in interest rates, which will continue to hit savers, property remains a very attractive long term investment opportunity, particularly for those with cash to invest,’ said Belvoir managing director, Dorian Gonsalves.

“However, in some areas continued uncertainty over the future of EU nationals in the UK is having a negative impact. For example, in Boston in the East Midlands, which was reported as being the most pro-Brexit town in the UK with 75 per cent of the population voting to leave, thousands of EU workers remain anxious about their immigration status,” he added.

Therefore, some landlords and letting agencies are hoping the government will act quickly to reassure potential tenants about their position.ADNFCR-1222-ID-801821966-ADNFCR

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