A columnist on FT Adviser – an online service for financial advisers and clients – says buy to let investors have “a cheek” arguing against proposed tax changes.  

Tony Hazell, who also contributes to the Daily Mail, says people should ignore the welter of campaigns set up to oppose proposed wear and tear, and mortgage interest relief tax changes proposed by Chancellor George Osborne. 

“If I borrowed money to invest in an Isa or pension, then I would not make a profit from the income either once I had paid the interest on the loan. Why should landlords be immune from the rules governing businesses and investments – that is, that you are not guaranteed to make a profits” he asks in FT Adviser.

He says buy to let investors have, contrary to some suggestions, enjoyed “lavish tax perks” and are operating in a sector which is not under pressure. 

He says almost 20 per cent of home loans in July were to landlords with buy to let lending growing by 33 per cent in the past year to stand at £1.6 billion. “Such has been the rush to invest that the Bank [of England] has warned it could amplify a boom/bust cycle” he says.

With other data showing that today there are 1,100 buy to let mortgage products – the highest number since 2008 – and the cost of five-year loans to landlords has fallen to 4.08 per cent, the BTL investor could be seen to be considerably better off than the first time buyer, Hazell suggests.

“There would be nothing wrong with this if they were on a level playing field, but this has not been the case. The chancellor’s tax changes will remove some of the tilt, and no heed should be paid to any campaign to undermine them” he urges.