Labour party leader Ed Miliband is looking to make major changes in the buy to let market if his party succeeds in winning the election next year.  There are an estimated 1.5 million homes with buy to let mortgages according to the Council of Mortgage Lenders.  These buy to let mortgages will carry special stipulations to ease the burden of price increase during the term of the lease if Miliband wins.  He currently has a 4 point lead over David Cameron’s Conservatives.

Miliband commented on the current status of the rental market and what the future holds, saying: "One of the biggest causes of the cost of living crisis in our country is the price of renting or buying a home."

Miliband added: "We need to deal with the terrible insecurity of Britain's private rental market ... The next Labour government will legislate to make three-year tenancies the standard in the British private rented sector to give people who rent the certainty they need. These new longer-term tenancies will limit the amount that rents can rise by each year too."

Although Miliband will be placing more latitude with the tenants themselves, his ideas are expected to create a great debate led by landlords and others in control of a buy to let mortgage.  The changes he is proposing would help many house hunters who simply cannot afford housing now since the prices within the market have skyrocketed as demand and short supply are working against them.

Miliband continued, saying: "Many tenancies last just six months ... some are told to accept huge rent rises or face eviction. It breeds instability and that is bad for tenants, bad for families, bad for landlords, and bad for our society."