This is not an attack on my good friends who happen to be Buy to Let (BTL) landlords or the millions of other Buy to Let landlords in the UK. They are doing what I’d probably do myself if I had the capital; making use of it. Many of them are good people who look after their tenants and often charge their friends affordable rents, i.e. below market rents.
I’m grateful to have benefited from the kindness of friends who happen to be BTL landlords. Some BTL friends have charged me below market rents. Other BTL friends have helped me move my possessions from bedsit to flatshare and on again when tenancies ended. And my BTL friends are the ones who have donated me furniture when needed as they have the assets to help out. Many just invest because it makes financial sense to them, with interest rates so low, its a good way to earn money and capital.
Its central government that are at fault here for allowing buying and renting a home to become unaffordable for millions by treating housing primarily as assets to make money out of rather than as homes for people to own as their own. And for allowing the number of private renters with the shortest tenancies in Europe to double in a decade to 11 Million. And for their failed policies that prioritise making money for themselves and their donor’s, lobbyists and media friends rather than helping millions in need.
Houses should be primarily treated as homes to be lived in not as investment opportunities for the capital rich to get ever richer.