What a wonderful suggestion from Helen Simpson, to extend the right to buy to the private sector (Letters, 25 July). It’ll never happen, of course, as far too many powerful people are making money from “investment properties”, including MPs (Report, 7 May).
Buying to let may make sense on an individual level (who wouldn’t be tempted, given the returns?) but on a societal level, it’s been a really bad thing – reducing the availability of starter homes, not just by pushing up prices but by taking them out of the “sales” market (where they would change hands every few years) into the “lettings” market where they remain for ever.
The budget announcement of a restriction on tax relief was welcome, but further action is necessary to stop this problem getting worse. A good start would be a restriction on the number of simultaneous buy-to-let mortgages a person can have. One BTL house or flat should be perfectly adequate to fund your retirement – you don’t need 10!
Helen West
London
