Bank of Mum and Dad
In the last election many of the younger voters voted labour.
In many families I know younger members of families voted labour older members conservative.
Youngsters are in a rut.
They don't have access to capital to buy a modest property. Unlike myself and probably many landlords who obtained 95% or 100% mortgages in our 20s.
Many older folk have capital but what they need is income for their retirement.
Perhaps the government could initiate a shared ownership scheme that would work for private landlords and young people. Income for landlords access to capital for the young.
E.g.Landlord 25% Bank 75%. Tenant pays rent to landlord + interest to bank. Fix term when property sold proceeds split.
Government does not charge capital gains tax on profit made by landlord.
Ideas are needed to enable the young to get on the property ladder.
Want to read more?
This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.