Finance News

Homeowners on Mozart Estate Told to Sell to Buy-to-Let Investors

Em Morley - April 30, 2015
Homeowners on Mozart Estate Told to Sell to Buy-to-Let Investors

Homeowners on Mozart Estate Told to Sell to Buy-to-Let Investors

Residents on the Mozart estate in West London have been called upon to sell their homes to buy-to-let investors.

Westminster Council’s housing office, City West Homes, has dispersed a leaflet to homeowners on the estate stating: “Record values agreed by City West Homes Residential – cash buyers waiting.”

The pamphlet claims: “According to our data we have agreed record values in the estate – one of the best being £450,000 for a 3 bedroom flat in need of modernisation.”1

Leader of the Labour Group, councillor Paul Dimoldenberg, says: “Westminster Council wants to destroy local communities by encouraging homeowners to sell their homes to buy-to-let investors.

“Everyone knows that when estate agents say ‘cash buyers waiting’ it means that buy-to-let investors, rather than owner-occupiers, want to buy. The Conservatives say that they want to support homeownership but here we have cast-iron evidence that Conservative Westminster Council is more interested in helping buy-to-let investors and wants existing homeowners to sell up and move out of Westminster.

“We have demanded that the Council stops City West Homes from sending any more of these leaflets to homeowners on Council estates.”1

1 https://labourwestminster.wordpress.com/2015/04/28/westminster-conservatives-urge-home-owners-on-the-mozart-estate-to-sell-their-flats-to-buy-to-let-investors/