The idea is simple, put a cap of £45 per week on housing benefit, not ont he person but on the property.
The simple fact is that there are now numerous private landlords buying up houses with the sole intention of renting them to people on benefit. These spivs look at a house on the market, find out what the maximum housing benefit they could recieve is and then simply buy the property if its financially viable.
By reducing the amount so drastically these greedy landlords would be forced to sell some of their holdings, this would open up the market for first time buyers and rebalance the market prices.
I have no problem with someone renting a second home but we have reached a stage where people have a portfolio of 30+ houses, each one purchased with the intention of getting benefit based tennants in.
Why is this idea important?
Rebalance the market, open up property to first time buyers, reduce the cost of housing benefit, reduce the, "If I have a child I get a nice flat." syndrome to, "If I have a baby I get a bedsit." reallity.
As it stands these "super" landlords can get a mortgage with in minutes due to their holdings whereas 1st time buyers cannot with out 20% deposit.
Another additonal benefit is that it would get rid of a lot of those property ladder style programmes from daytime TV.