chem1st Posted October 9, 2012 Share Posted October 9, 2012 http://www.insidehousing.co.uk/tenancies/quarter-of-tory-mps-are-landlords-says-research/6524104.article?MsgId=62961 A quarter of Conservative MPs are private landlords, according to research for an independent campaign group. Pricedout, a group which campaigns on behalf of first-time house buyers, found that 83 out of 305 Conservative MPs are supplementing their income through private tenants. Only 12.5 per cent of Labour MPs and 15 per cent of Liberal Democrats own properties that they rent out. Tories - 27.2% are landlords. Liberal Democrats - 15% are landlords. Labour - 12.5% are landlords. The figures relate to elected MPs who have declared their interests in property upon the website; http://www.theyworkforyou.com/ http://www.aboutproperty.co.uk/uk-property/2012/10/08/one-in-four-conservative-mps-are-landlords Katy John from the first-time buyer campaign group PricedOut, said: "Not only do MPs enjoy their taxpayer-funded second homes, many of them also have a portfolio of rented houses too. "Many first time buyers are trapped in the private rented sector, 94 per cent of whom would like to buy their own home. "Tenants in this country face some of the worst levels of housing security in Europe. First time buyers desperately need house prices to fall to more affordable level, but landlord MPs at the very top of the property ladder have a vested interest to not let this happen". Conservative MP James Clappison tops the poll for the most rental properties, owning 26 across East Yorkshire. The study found that one in five MPs own property, although it did not include MPs from Northern Ireland. It also did not take into account ownership of commercial property, overseas, or those with a stake in property companies. Here is the data for the one with the most properties; http://www.theyworkforyou.com/mp/james_clappison/hertsmere Register of Members’ Interests 2. Remunerated employment, office, profession etc. Member of Lloyd's. (Resigned 31 December 1994.) Categories of business underwritten for open years: All. 8. Land and Property 27 acres of farmland, and a cricket pitch let out on a peppercorn rent, in Patrington, East Yorkshire, from which rental income is received. 26 rented houses in East Yorkshire, five of which are registered in joint name with my wife. One wonders how he holds the 27 acres of farmland and if he gets CAP payments on top of the 'peppercorn rent'. Let us not forget about 2nd homes for MPs and the fact that some of them rent them out and have THIRD homes... Lets look at some of our local MPs! Clive Betts for example. http://www.dailymail.co.uk/news/article-1335753/MPs-expenses-Politicians-cash-THIRD-HOME-ploy.html#ixzz28q5UW6CE Another MP to benefit is Clive Betts, who previously came under fire for accepting match tickets and hospitality from McDonald’s at the Euro 2004 and 2006 World Cup football tournaments. Before the Election, the Sheffield Labour MP had no rental income and claimed £992 a month for a second-home mortgage on his £500,000 fifth floor flat in Westminster. It is a five-minute walk from the Commons and includes access to a private swimming pool, sauna, gym and 24-hour porter. In the new Commons register Mr Betts declares ‘one residential property in London from which rental income received.’ MPs are not required to say how much they get from private rental income, but the estimated rental value of Mr Betts’ flat is around £2,000 a month. The flat was well furnished – thanks to taxpayers. Mr Betts claimed £1,268 for carpets, a £570 sofa bed; a £689.99 television; £1,433.50 for decoration; £1,220 furniture; and a £1,135.20 bed. A neighbour there said a new female tenant now lived at the flat, adding: ‘We’ve heard that Mr Betts is now renting somewhere round the corner while renting his own flat to cover the mortgage.’ And the new IPSA records show that, like Mr Crausby, Mr Betts now also claims the maximum £1,450 per month for rent. Clive Bettts recently suggested we use pensions to invest in housebuilding. Earlier this year the communities and local government select committee, which I chair, undertook a detailed inquiry into the financing of new housing supply where we looked closely at a range of measures that might be used to fund the construction of over 230,000 homes every year – the number required to meet current levels of household formation. In recent years, private housebuilders have not delivered more than 150,000 new homes a year. With the levels of constraint now holding back the mortgage market it is important that we develop other models to provide finance for essential housebuilding, not least through the channelling of long-term investment funds into housing development. While there is no simple way to resolve the housing crisis, we found potential in a number of financial mechanisms, including real estate investment trusts and self-invested personal pensions. Perhaps if he lived in his second home (which he now rents out for profit), instead of renting a third at the expense of the taxpayer, we could reduce expenditure on MPs homes and fund the building of a home for a pleb! (There are many of us lower class citizens?/serfs on the Sheffield housing register in need of housing, that is for sure!) Link to comment Share on other sites More sharing options...
Penistone999 Posted October 9, 2012 Share Posted October 9, 2012 Im trying to work out if its Buy to Let Landlords, (of which i am one), as a whole you dont like or just MP`s earning a second wage from buy to let properties. Link to comment Share on other sites More sharing options...
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EyesOpen Posted October 9, 2012 Share Posted October 9, 2012 Over a quarter of Tory politicians are landlords! Why wouldn't they be, property investment is a wonderful investment strategy. I don't think you get it, these are the same people who take taxpayers money to have a "second home" See the problem? Link to comment Share on other sites More sharing options...
Penistone999 Posted October 9, 2012 Share Posted October 9, 2012 Over a quarter of Tory politicians are landlords! Why wouldn't they be, property investment is a wonderful investment strategy. Without a doubt, its the way forward. Ok , my small buy to let portfolio dosnt compare to the MP with 26 house he owns , but it gives me a good standard of living none the less. Link to comment Share on other sites More sharing options...
chem1st Posted October 9, 2012 Author Share Posted October 9, 2012 Im trying to work out if its Buy to Let Landlords, (of which i am one), as a whole you dont like or just MP`s earning a second wage from buy to let properties. I don't like buy to let at all. I don't like MPs 2nd home expenses either. We should build some purpose built housing for them, that they can use whilst elected. Buy to let should be illegal. Replace it with build to let. You want to profit from property? Build it to meet demand. Reward building, tax speculation, tax rents. Use the tax to fund progress, useful work. Link to comment Share on other sites More sharing options...
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Penistone999 Posted October 10, 2012 Share Posted October 10, 2012 I don't like buy to let at all. I don't like MPs 2nd home expenses either. We should build some purpose built housing for them, that they can use whilst elected. Buy to let should be illegal. Replace it with build to let. You want to profit from property? Build it to meet demand. Reward building, tax speculation, tax rents. Use the tax to fund progress, useful work. What is so bad about private landlords. ? two of my student let properties were badly run down when i bought them at auction , both of which had been stood empty for a while ,and needed money spending on them to bring them back to a habitable standard. I spent the money required ,and brought two houses back to life . There are plenty of houses stood empty that just need a few thousand spending on them , a general re-fit ,and they will be fit for people to live in . If buy to let was made illegal thousands of properties would stand empty and be taken out of the housing market overnight ,as a vast amount of property is bought by Buy to let landlords to rent out. Link to comment Share on other sites More sharing options...
gnvqsos Posted October 10, 2012 Share Posted October 10, 2012 I must say I have visited loads of pubs but have never been served by an MP.i was expecting a visit to the George and Dragon to lead me to Teresa May and Osborne but no chance. Link to comment Share on other sites More sharing options...
I1L2T3 Posted October 10, 2012 Share Posted October 10, 2012 Over a quarter of Tory politicians are landlords! Why wouldn't they be, property investment is a wonderful investment strategy. Indeed. It is a sound investment strategy for many people. But what if you were investing in property and had a chance either through influencing legislation or though influencing economic policy to make your investments work even better for you? I think that is where suspicion creeps in when we talk about doing things like building more homes, fairer taxation on rent yielding assets etc... How far would a politician, of any flavour, seek to prevent policy that might be good for the wider economy but damaging for themselves? This kind of question goes to the heart of the way we have been governed over the past 20 years, or more. It extends to other areas where MPs, again of any flavour, might have secondary interests. Banking, healthcare, policing/security (think John Reid) are other examples where MPs from all parties have lucrative private interests/consultancies etc... Link to comment Share on other sites More sharing options...
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