Property investment search portal Buy2Let.com has launched an online petition via the UK Parliament portal, calling for a national register of buy-to-let private rental properties.
While owner-occupier property transactions are recorded and analysed via the Land Registry, founder of Buy2Let.com, Martin Wilkinson, is campaigning for a register of transactions by buy-to-let investors, to help quantify the market and root out the rogue landlords.
Despite recent attempts by Government and The Bank of England to stifle the buy-to-let sector, the acute shortage of homes and increasing house prices means that the private rental sector continues to pick up the slack. he said.
Wilkinson said: “We frequently see reports and statistics on the owner-occupier market, but the lack of reliable, comprehensive data on the private rental and buy-to-let sector means no-one – including politicians, mortgage lenders and estate agents – has a clear picture of what is happening in the market. In much the same way as a mortgage charge is registered on traditional house sales, we think there should be a similar requirement for buy-to-let purchases.
“The buy-to-let sector generates over £100bn in transactions every year, so it’s vital that we capture the true scale of this important market, and at the same time, use the data gathered to identify and stamp out malpractice and rogue landlords.”
