Council of Mortgage Lenders against rent controls

The Council of Mortgage Lenders has joined many voices opposing the concept of rent controls, which many people feel may be the end result of proposals being put forward by the SNP-led government in Scotland.

CML’s policy consultant for Scotland, Kennedy Foster in an official response to the consultation said “We believe that the introduction of rent control is likely to dampen appetite amongst institutional investors to invest in the sector, will impact adversely on the availability of buy-to-let mortgages, will result in higher rents being set at the outset to compensate for lower rent increases during the rental term and could impact on quality if a rental yield cannot be achieved to allow continued investment in the property.”

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