Corbyn plans to force private landlords to sell to tenants

PRIVATE landlords could be forced to sell their properties to their tenants in a new “right to buy” scheme being worked on by Jeremy Corbyn.

An investigation by the Financial Times said the plan was intended to “penalise wealthy landlords”.

During his campaign for the Labour leadership in 2015 Mr Corbyn put forward his own plan to extend the right to buy to the private rented sector. He suggested funding subsidised mortgages for private tenants by withdrawing £14billion of tax allowances that were at the time given to buy-to-let landlords.

The policy is thought to be modelled on plans introduced in the Eighties by Margaret Thatcher’s government, which allowed council house tenants to buy their homes. The policy was aimed squarely at supporting the socalled

‘I believe this idea could open up the possibility of real secure housing for many faced with insecurity’

“generation rent” – those people, mainly in their 20s and 30s, who are increasingly unable to get a foot on the property ladder as prices soar.

Mr Corbyn said in 2015: “We have seen some good ideas from Labour to establish more secure tenancies for renters. Now we need to go further and think of new ways to get more people into secure housing.

“So why not go with right to buy, with the same discounts as offered by way of subsidised mortgage rates, but for private tenants and funded by withdrawing the £14billion tax allowances currently given to buy-to-let landlords?

“I believe this idea could open up the possibility of real secure housing for many currently faced with insecurity.”

A Labour Party spokesman was approached for comment last night.