Government register will 'put off commercial property investors'
Tuesday 29th September 2009The proposed national landlord register for the UK could dissuade investors from the private rented sector, a property expert has claimed.
According to a trends survey by Paragon Mortgages, 56 per cent of the landlords questioned thought that the introduction of rules would prevent further investments from being made.
The introduction of a register will not provide any additional benefits for tenants, a further 48 per cent explained.
John Heron, Paragon Mortgages' managing director, said: "Landlords are already subject to an estimated 50 Acts of Parliament and 70 sets of regulation, so they are naturally going to be sceptical about the introduction of another major regulatory initiative.
"Whilst it is right that the government takes steps to drive out the rogue elements of the private rented sector, it must ensure that any regulation is fair and proportionate."
The government has proposed the creation of an independently-run register of landlords in the UK.
Details including name, address and the location of their properties would be contained on the database.
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