Landlords come in all shapes and disguises but in the shape of a former Prime Minister? Now we have seen everything!
If you were looking to rent a property, would you want to find out that your landlord is former Prime Minister Tony Blair?
A company has been set up to handle the ownership and management of buy to let properties and the main shareholder of the company is none other than Tony Blair.
Now, we will have all read the stories in the past about the Blair family and their property investments. In fact, Tony, his wife Cherie and their eldest son Euan, already own 38 properties worth an estimated £33m, according to the Daily Mail.
Their portfolio already includes a series of flats in North West England which are let our via an existing company, Oldbury Residential Ltd.
A new company called Harcourt Ventures Ltd has now been set up to help them manage their growing portfolio. The Daily Mail claim that Tony Blair owns 50% of the shares, although Cherie Blair is the company’s sole director.
It is no surprise that the former Prime Minister should be involved with buy to let via a company. His wife, and the law firm she leads – Omnia Strategy LLP, represented two landlords in last year’s unsuccessful bid to secure a judicial review of Section 24 of the Finance (No.2) Act 2015.
This act came into effect in April 2017 and started reducing landlords’ mortgage interest tax relief.
At the time of the failed attempt Cherie Blair said:
“The court’s decision that our clients’ legal challenge should not proceed is very disappointing. Steve and Chris, and many others, have dedicated a lot of time and energy into putting forward the best case possible. We know the case has been supported and followed with interest by a large number of individual landlords. Many of these landlords now face challenging times ahead.”
“From the outset, the legal process was just one aspect of our clients’ fight against this unfair measure. Together with their impressive and growing coalition, they will continue to engage with the government, and the legal team wishes them every success.”
So next time you do a double-take at your landlord, just have a look and see if it is him!