Will landlords be able to sell their homes following the Government's backing of the Heathrow Airport expansion?

Landlords have been told they may not qualify for the financial offer for properties affected by the Heathrow Airport expansion.

The private company that owns the airport - Heathrow Airport Holdings - has said that it will buy 750 homes on the site of the planned runway using compulsory purchase orders.

It will also offer another 3,750 homeowners in the area the option of selling their properties.

The company has said it will offer the 4,500 households the market value of the property plus an additional 25 per cent of the value of the home.

It follows experts saying house prices would be blighted by the Heathrow Airport expansion due to an increase in local noise and air pollution.

Most landlords ineligible for enhanced offer

Heathrow Airport Holdings has said that private landlords will not be eligible for the enhanced offer of 25 per cent if they bought their properties before 20 December 2013.

They will get the statutory offer, which is the market value of the property plus 10 per cent.

However, there is an exception: ‘reluctant landlords’ who were forced to rent out their property (due to financial hardship, for example) will be eligible for the enhanced offer, as long as they have lived at the property for at least six months.

Any landlord who has bought a property after 20 December 2013 will also be eligible for the enhanced deal of the market value plus 25 per cent, in an effort to keep the local housing market moving.

The landlord must be buying the property from an owner-occupier rather than from another landlord.

What do you think about the deal being offered to landlords affected by the Heathrow Airport expansion? Tell us in the comments.

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