London.....! Property investors who leave homes empty just to make money from property price rises could be fined or even jailed under proposals made by a London council. Islington plans to force owners of newly built homes to prove they are occupied. If homes are left empty for longer than three months owners will face high court injunctions which if breached, could bring fines, repossession and, in the worst cases, jail for owners, the council said. The drastic action has been proposed as the north London borough revealed that 30% of 2,000 homes built in the last six years have nobody on the electoral register and, even when students and foreign tenants are discounted, close to a quarter of homes in five of the newest residential developments appear to be empty. Owners will have to prove they are not “buy-to-leave” investors by showing up-to-date utility and council tax bills, evidence of deliveries, registration documents for health services, schools and social services, and even prove the homes are fully furnished. “Our new proposals would make sure that all new homes in Islington are occupied – we want to send a message that ‘buy-to-leave’ is unacceptable,” said Cllr James Murray, the council’s executive member for housing. The proposal was warmly welcomed by campaigners against empty homes but is likely to be fiercely opposed by property developers. John Silvester, a former president of the Planning Officers Society, said such a use of the planning system was unprecedented and it might be challenged on the grounds that it seeks to curb established rights among property owners.........
Posted on: Sat, 06 Dec 2014 13:23:24 +0000
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