Buy-to-let landlords 'harassed' by regulators

Many buy-to-let landlords feel that they are being harassed by authorities fulfilling their regulatory obligations, it has been claimed.

The volume of legislation as well as the way that it is enforced by local authorities is a concern for landlords with properties to rent in Berkshire, according to the Residential Landlords Association (RLA).

Chairman of the RLA Alan Ward explained that local authorities "have harassed the generally well-meaning majority of landlords who are just the low hanging fruit for box ticking bureaucrats".

He added that landlords are also under increasing pressure from lenders, many of whom are keen to enforce a clause demanding a re-evaluation of properties, and seeking an extra equity injection to maintain the borrowing ratio.

His comments follow research by Paragon Mortgages, which indicated that more than half of landlords are worried about the level of regulation impacting on their business.

It is estimated that there are around 50 Acts of Parliament and 70 separate regulations governing the sector.

Article Date: 18/01/2010