The new government should boost the new build sector and support the buy-to-let market, Jon Hall, chief commercial officer and deputy chief executive at Masthaven, has claimed.
Hall (pictured) said he would like to see the next government put efforts into fixing the challenges the housing market is facing.
Hall added: “Key issues around affordability and supply must remain a central part of the next government’s strategy.
“The new government has a great opportunity to boost the new build sector and deliver the number of homes the country requires.
“Over recent years, the buy-to-let sector has been buffeted by regulatory and tax changes.
“We should be supporting landlords who offer vital housing stock to those who are saving to get on the property a ladder or who need the flexibility renting can provide.
“By softening the tax treatment of buy-to-let landlords, we would provide more confidence to buy-to-let investors and reduce costs that may be passed on to renters.”
Hall also said that the government needs to give more incentives for local authorities to release more land for self-build and development.
He added: “SME housebuilders play a key role in our housing sector, deploying innovative solutions like modular, self-build and so on to address the UK’s housing crisis, one affordable home at a time.
“Finance continues to be one of the major barriers to SME expansion in the new build sector.
“Specialist lenders can help bridge this funding gap for SME housebuilders.
“If we’re to get anywhere near building a million new homes by 2022, we will need lenders like Masthaven that can provide a range of innovative and accessible bridging and development finance loans.
“Product ranges are diversifying, and the lending market is becoming more specialised.
“Broker expertise is more crucial than ever to help consumers find their way through the financing process for their property ventures.
“I’d like the next government to deliver surety and stability to the market, restoring borrower confidence.
“We hope to see a strong and resilient housing market as we move into 2020.”
By Michael Lloyd
Source: Mortgage Introducer