Wednesday, 04 March 2015

Quarter of Tory MPs are landlords, says research

A quarter of Conservative MPs are private landlords, according to research for an independent campaign group.

Pricedout, a group which campaigns on behalf of first-time house buyers, found that 83 out of 305 Conservative MPs are supplementing their income through private tenants.

Only 12.5 per cent of Labour MPs and 15 per cent of Liberal Democrats own properties that they rent out.

Across the parties, more than half of the homes owned were in London, where private rents are highest.

The group found several examples of MPs owning more than one rental property. James Clappison, Tory MP for Hertsmere, topped the charts, having been found to own 26 homes he rented out across east Yorkshire.

‘Not only do MPs enjoy taxpayer-funded second homes, many of them also have a portfolio of rented houses too,’ said Katy John, a spokesperson for Pricedout. ‘Many first-time buyers are trapped in the private rented sector, 94 per cent of whom would like to buy their own home.

‘Tenants in this country face some of the worst levels of housing security in Europe. First-time buyers desperately need house prices to fall to more affordable levels, but landlord MPs at the very top of the property ladder have a vested interest to not let this happen.’

Readers' comments (20)

  • Chris

    This would seem to answer a lot of questions.

    Has anyone got the list of the private landlords who are also voting to benefit private renting and to further disband social tenure?

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  • Christopher Dale

    It'd be interesting to know if they're paying their due taxes on these nice little earners. I'll bet they didn't use their expenses to decorate these properties for their tenants, or install moats.

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  • wonder how many private landlord MPs rent to other MPs who then claim rent against expenses. now that would be a nice little earner. I assume none of the PLMPs rent out in london but also claim for a second home in london. the possibilities here are endless. Or am I just being cynical

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  • This is a joke. Yet these criminals are going to enjoy at least another two and a half years bleeding the poor of this country.
    When are people going to stand up against all of this.
    Bedroom tax is the one I can't get my head around.
    Why is it that that most of the people in this country are not being informed of this tax ?

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  • What an excellent piece, vested interest to not have a Rent Cap in London. Don't suppose you can find out how many of these have Housing Benefit claimants renting them? It is one rule for the rich in this 'broken society' and one rule for the poor! So much for all in this together? We need a workable & fully funded housing policy now, which caters for all those in need from first time buyers and real low cost affordable housing that doesn't depend on housing benefit top ups.

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  • too true Carole and may we assume the 25% ers will all disqualify themselves from discussing welfare reform etc as they have a clear vested interest in the outcome. please budge up at the trough

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  • A decent living wage would go along way towards stopping benefit top-ups!
    Here we have the Tories promoting the right to buy but, not investing in a social building program! People need to be able to trust the job market for confidence in spending on new homes, not with this self serving shower in charge! Never mind profit, PAY A DECENT WAGE! We are sick of subsidising business!

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  • just so Bill the minimum wage should remove the need for benefits. you also have the obscenity of ministers bragging they have created 1million private sector jobs. how many are full time living waged and how many are part time sweat shops with the owners creaming it in using our subsidy.

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  • Chris

    Philthy Boots the answer to you question is the supposed paradox of how can there have been so many jobs created yet the economy has shrunk? Answer, because the jobs created are low waged, part time, temporary or casual roles replacing the high skilled high quality jobs descimated by Tory Policy of converting investment in services into even higher public sector borrowing to fund benefits and 'incentives' for creating short term flexible low aged casual jobs.

    A self fulfilling circle of disaster that apparently, if you have the money and the right connections, it is possible to make a fortune off of the back of - siphoning even more money out of the dying economy so that more cuts and lower wages are demanded.

    Meanwhile - nobody be to harsh on the named MP, he does let out his cricket pitch at a nominal rate, and does not make that much income from his 27 acres of property. He even has to share the income from his private rented homes with his wife (no doubt because to do so avoids a certain amount of tax).

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  • Is it a surprise? I know quite a few people earning MP type wages that have BTL properties as an accompanyment to pensions, cover the mortgage for 25 years, happy days.

    This isn't so much party politics, more personal investment decisions - are we going to be requesting labour MP's stockholdings next? If you hold Tesco shares should you be able to influence the current rate of VAT, if you own BP shares can you take part in a vote on suspending fuel duty? Surely that's no different to people using the "no wonder they oppose a rent cap" argument?

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