Buy to Let

Bracknell’s Labour candidate and an estate agents have different ideas about how the town’s property market should function (From Bracknell News)

THE TOWN’S Labour leader has hit back at a property company calling on Bracknell residents to become buy-to-let landlords.

On Wednesday Romans Estate Agents announced a property investment show to be held at Easthampstead Conference Centre on August 24.

The event will feature mortgage and tax advisers, along with a portfolio of Romans’ investment properties, geared at encouraging people to buy property and then let it on the private market.

The announcement notes that average Bracknell house prices have increased by two per cent in the last year, and 38.92 per cent over the past five years.

Lettings Manager Michael Robson said: “If you are looking to make a sound investment, then becoming a buy-to-let landlord may be the solution.

“With exceptionally low mortgage rates and more people hoping to rent in Bracknell than ever before, we advise investors to purchase now before mortgage rates and property prices increase.”

Paul Bidwell, who nearly doubled Labour’s share of the vote in June’s General Election, argued that more buy-to-let landlords was not what the town needed.

“The problem we have with prices artificially increasing with rental properties in Bracknell is that it is affordable for some but increasingly not affordable for all,” he said.

“With private landlords coming in to the town they are adding to the problem by buying up properties and then increasing the rents six months into a tenancy. This causes a risk of homelessness.

“It also increases prices. There are a large number of young people who are forced to live at home because housing is too expensive, which makes things like parking more of an issue.

“I would like to see an amount of property that is ring fenced, either as affordable or social housing.

“We need to make this a big issues otherwise Bracknell will be a commuter town only, with people with less money pushed further and further to the outskirts.”

To find out more about the Romans event, contact Michael Robson on 01344 404 722 or visit www.romans.co.uk/investing

To find out more about Labour Bracknell, go to www.bracknelllabour.org.uk

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