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The conventional wisdom at the time was that rent controls discouraged potential landlords and led to many houses falling into rack and ruin because of lack of maintenance.
I too could live in Central London in the 60s but in one room - this was before the family came along and I needed three bedrooms.
I don't see how Buy to Let solves anything - if the Landlord has to charge enough to cover the mortgage, why doesn't the tenant buy for himself ? It would be cheaper.
Buy to Let just exacerbates the housing price spiral. As I see it, the only solution is to increase the supply of accommodation by encouraging Build to Let.
getting that 20% deposit together can be just a bit tricky. Or even 5% when a house costs £550k ( eg in this road, this month, in scuzzy old Tottenham)
I would agree that rent controls in principle would be a good thing but a new entrant into the buy to let market buying a property at market value or more will need to cover the mortgage and maybe make some profit to cover maintenance. I don't believe someone should be excluded from buying a property to rent just because the mortgage repayment is higher than the average rental at the time. When I first arrived in London I shared a house and lived in a single room but house price had not exploded like now. As long as it is not implemented with a simple 1 hat fits all then it could work but authorities like simple 1 hat solutions like bedroom tax that sounds good in principle but bad in practise.
Shortly the pension-pot cash-in possibility that was opened in April, could mean millions (?) of over-50s being tempted by the idea of becoming a BTL landlord as a way of paying themselves a pension. I've no idea if this will happen but you can see the twinkle in the eye of many people who would not have considered this before. Get 100k deposit in your hand, get a supercheap mortgage, and you're off, your own housing portfolio begins. This could well have been the reason for this extraordinary policy coming in (of course the state will have to pick up those who blow it all on bad risks and/or con-men) - a back-door way of 'solving' the housing crisis by creating more + more small private landlords.
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