Landlords keep pressure on election hopefuls over mortgage tax relief
Pressure is mounting on election candidates, with thousands of letters sent by landlords asking for a revision of the planned change to mortgage interest tax relief
The correspondence was encouraged by the Residential Landlords’ Association (RLA), who is hoping to work with the eventual winner of election to create a fair and encouraging marketplace for private landlords.The current proposal to change the way landlords claim mortgage interest tax relief is already being phased in and by 2021, landlords will no longer be able to deduct mortgage interest payments, or any other finance-related costs from their turnover for tax purposes. It is hoped a reversal of the change will encourage more private landlords into a sector that needs almost two million new homes to rent by 2025, according to Alan Ward, the Chairman of the RLA.
The association says on its website that it wants the new government to adopt positive tax policies that will encourage landlords.