Is Scotland looking to make repossessions a thing of the past?

[Mark Rocks]

We don’t talk about Scotland all that often, but that doesn’t mean we don’t pay attention to property news there. 

Especially when the news could potentially change the face of property investment there and eventually in England. 

This week it was revealed that new laws are being proposed which could prevent landlords from automatically reclaiming their properties from tenants who have built up significant rent arrears. There will also be no automatic right to regain possession if a landlord wants to sell a property. 

These proposed changes are essentially extending pandemic measures that were introduced to protect tenants, making something which was temporary far wider reaching. 

Will this end up happening? If so, will it lead to an exodus of landlords in Scotland? We’ll have to wait and see… 

https://www.dailymail.co.uk/property/article-10797859/Scottish-plans-stop-landlords-repossessing-properties-rent-isnt-paid.html

[pawel_pietraszewski_onet_eu]

Thank you for reporting this. An interesting read. Just in time when I am planning to change strategy and invest in more properties 😕 Will this be another factor contributing to rent increase? Rental income insurance will become a standard tool in landlords toolkit, giving that extra security but also driving rent prices up. 

[neil_irwin]

Hmmnnnn . Refusing to roll back emergency legislation from the Pandemic. Is this part of Klaus Scwhab's great reset power grab. "you will own nothing and be happy " Basically trying to trying to wipe out the entrepreneurial class and push through techno feudalism.