Baroness Bowles of Berkhamsted (LD)

My Lords, unfortunately, I was unable to speak at Second Reading, but I saw that the noble Lord, Lord de Clifford, raised an issue that I wanted to raise, concerning the matter of carers, and I have been pleased to co-operate with him to produce Amendment 64. First, I declare my interests as a private landlord for over 25 years, both in a personal capacity, with lettings in Hertfordshire and Buckinghamshire, and also as an experienced—though unpaid—trustee-type director for lettings in Buckinghamshire. Being a landlord started accidentally: when I rented a property, I intended to sell to a friend in need. Then, like many self-employed people without an employment-linked pension, I saw its value as pension provision instead of selling it and that it kept the asset available, if needed, for business-loan security. I have had conversations about the extra risks and costs, should we sell and what it means for rents. I have, as the Minister said we should on Tuesday, examined our business models. Even without exposure to mortgages, the effect is that rents will rise and will track market rates sooner rather than risk larger, less frequent adjustments that are more likely to attract challenge, which, of course, would exert an inflationary feedback loop on rents. In a nutshell, it has made it riskier to be a benign landlord.