Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of introducing legislative proposals to withdraw mortgage tax relief from people with holiday lets to encourage property owners to make homes available for local people.

Tax relief on mortgage interest is available for landlords renting properties both as longer-term tenancies and as furnished holiday lets. Tax relief on mortgage interest on properties rented as longer-term tenancies is available at the basic rate of income tax; we estimate that only 1 in 10 landlords are affected by this restriction introduced in 2017 and phased in over four years. The Government keeps all taxes under review.