Landlords should be given cash boost if they sell to tenants in bid to help home ownership, report says

LANDLORDS should be given a cash boost if they sell to their tenants in a bid to help home ownership, a report says.

Ministers must offer the incentive in a one-year offer to get first-time buyers on to the property ladder, a study has revealed.

To let… the rental market is booming
PA:Press Association

The move would see Capital Gains Tax paid by a landlord on the sale of a rented home turned into a rebate – split between them and the tenant.

The Help To Own scheme would ultimately mean that for every £1 a tenant invested to buy the property they rent they would receive £3 for their deposit.

One million people would move into home ownership if just one in ten landlords took up the proposal, the Centre for Policy Studies said.

Renters spoiled for choice… can landlords be convinced to sell up?
Getty Images – Getty

Report author and former Number 10 adviser Alex Morton said: “The great transformation in the property market recently has been the rise of private renting and the collapse of home ownership among younger people.

“This report shows how landlords can be incentivised to sell to tenants at a discount, promoting mass home ownership in a way that is fair to everyone – and at no cost to the Treasury.

“It is highly encouraging that the Government is reported to be taking this proposal seriously.”

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