Successful Financial Future
Extending the concept of the Rent a Room Scheme which aims to encourage homeowners to let out spare rooms within their homes to lodgers:
- Incentivising Homeowners, to provide separate, independent accommodation within their houses for rent
- Overseeing Quality of conversions (Local Government), standard letting terms (Central Government)
- Registering Conversions under an HMRC approval scheme, giving the benefits of a low tax regime
- Regulating Maximum Interest rates applicable for loans used for financing registered schemes
- Benefitting from the receipts of an incentivising tax regime
- Pensions a source of income to enhance pension provision
- Housing supply by increasing the supply of homes to rent, the supply of new homes available for purchase should be increased, helping rebalance the distortion of the housing market in favour of homemakers.
- Helping rebalance a major intergenerational inequality.
- Reducing rent for renters and the cost of subsidising rent for Government.