CML director general Michael Coogan added:"While we support some of the proposals to extend regulatory scope, the Treasury and the FSA need to tread carefully to avoid unintended negative consequences. As far as buy to let is concerned, the regulatory proposals are barking up the wrong tree - for amateur property investors, poor investment advice is the issue, not the mortgage."
"The recently-published consultations from the Treasury and the Department for Communities and Local Government on the role of the private rented sector are far more relevant and influential in determining the role played by buy to let. The Treasury recognises that regulation has in the past dampened incentives to invest in the private rental sector. The proposals to extend mortgage regulation designed to protect home-owners to the buy to let sector would simply repeat this mistake."
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