Over the past couple of years, private landlords have suffered some disappointing blows compared with other investors, such as the scrapping of the ‘wear and tear’ allowance for furnished homes, the phasing out of mortgage interest relief and the 3% stamp duty surcharge, and yet the buy-to-let market continues to appeal to a number of investors, including the prime minister.
It transpires that Theresa May and her husband, Philip, earn close to £1,000 a month in rental income from a property in central London.
Parliamentary records show that the property, which has been occupied since 19 August, is worth more than £100,000 and brings in a rental income of over £10,000 a year.
But given that the flat is listed as being located in central London, it is surprising that it carries such a low valuation.
The modest property may have acted as the MPs second home when she was in London, prior to moving into Downing Street.
By Marc Da Silva