Death of buy-to-let: landlords wake up to Osborne's 150pc ta

Death of buy-to-let: landlords wake up to Osborne's 150pc ta

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Discussion

dai1983

2,902 posts

148 months

Saturday 29th August 2015
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Condi said:
Interesting you think the fact we are well down the list of owner-occupiers is acceptable for a country which revolutionised social support with the NHS, minimum wage etc. IMO its a poor statistic for such a developed nation as ours, especially when so many people are trying to get on the ladder. If people wanted to rent, fine, but people are forced into renting due to lack of affordable housing, some of which is bought by property speculators passing off as BTL landlords.
Look at the other G7 countries figures for a second.

I was pointing out nations that are way above us but have far worse living standards than us. Again your assuming something that has not been posted.

I do however believe that houses are too expensive but, since we worked hard to get there, excuse me for not wanting to put myself in a worse place so the playing field can be seen to be levelled.

In other news my friend flew to LA today for a holiday. He has been saving with his partner for about 5 years for a deposit. They want a place in a large regional city that is quite popular. They rent in the most expensive suburb, always have nice fashionable clothes, multiple holidays per year, always on the piss and eating out. The next time I see him no doubt he will complain about how expensive houses where he wants to live are.


Pentoman

4,814 posts

262 months

Monday 31st August 2015
quotequote all
This change is a good thing. BTL landlords have been getting free st for too long.

The less-well-off are sick of funding the already-well-off.


ClaphamGT3

11,269 posts

242 months

Monday 31st August 2015
quotequote all
Pentoman said:
This change is a good thing. BTL landlords have been getting free st for too long.

The less-well-off are sick of funding the already-well-off.
The 'already well off' are providing 'the less well off' with a better quality and a better choice of rental property than at any time in history. The 'less well off' should be grateful

TheLordJohn

5,746 posts

145 months

Monday 31st August 2015
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ClaphamGT3 said:
The 'less well off' should be grateful
You're wasting your time, all you'll get as a reply is the usual "It's not fair" dressed up.

Willy Nilly

12,511 posts

166 months

Monday 31st August 2015
quotequote all
ClaphamGT3 said:
The 'already well off' are providing 'the less well off' with a better quality and a better choice of rental property than at any time in history. The 'less well off' should be grateful
Are the fk. What is happening is the first time buyers end up bidding against property speculators, then end up renting off them for more than they could have bought it for in the first place.

ClaphamGT3

11,269 posts

242 months

Monday 31st August 2015
quotequote all
Willy Nilly said:
ClaphamGT3 said:
The 'already well off' are providing 'the less well off' with a better quality and a better choice of rental property than at any time in history. The 'less well off' should be grateful
Are the fk. What is happening is the first time buyers end up bidding against property speculators, then end up renting off them for more than they could have bought it for in the first place.
But they couldn't buy it, could they?

Condi

17,084 posts

170 months

Monday 31st August 2015
quotequote all
ClaphamGT3 said:
Willy Nilly said:
ClaphamGT3 said:
The 'already well off' are providing 'the less well off' with a better quality and a better choice of rental property than at any time in history. The 'less well off' should be grateful
Are the fk. What is happening is the first time buyers end up bidding against property speculators, then end up renting off them for more than they could have bought it for in the first place.
But they couldn't buy it, could they?
You fully understand the point he was making. Property prices have been driven up so quickly that young people are unable to save fast enough for a deposit. So while they are saving for their deposit which is ever getting bigger and further away, they are paying more in rent than the mortgage would cost.

If prices came down by 20%, the mortgage would still be the same (over a shorter term) but it would be much easier to get together the deposit.

But of course, anyone who makes points which dont agree with you is just 'complaining its not fair'.

TheLordJohn

5,746 posts

145 months

Monday 31st August 2015
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No one mentioned the oil money in London yet...?
Let's blame the Arabs.

mph1977

12,467 posts

167 months

Monday 31st August 2015
quotequote all
ClaphamGT3 said:
Willy Nilly said:
ClaphamGT3 said:
The 'already well off' are providing 'the less well off' with a better quality and a better choice of rental property than at any time in history. The 'less well off' should be grateful
Are the fk. What is happening is the first time buyers end up bidding against property speculators, then end up renting off them for more than they could have bought it for in the first place.
But they couldn't buy it, could they?
if the market at FTB levle wasn;t overheated by the BTL amateur tycoons they could ... but i know thisis PH and you're a powerfully built be -hgoateed director and f*** anyone else

mph1977

12,467 posts

167 months

Monday 31st August 2015
quotequote all
TheLordJohn said:
No one mentioned the oil money in London yet...?
Let's blame the Arabs.
are the arabs buying up the FTB properties across the country ?

Muffster

312 posts

192 months

Monday 31st August 2015
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Why the assumption by so many that all Landlords 'wealth' comes from the taxpayer?

dazwalsh

6,095 posts

140 months

Monday 31st August 2015
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Bonkers how blame is applied squarely at landlords for what is essentially a supply and demand issue.






Edited by dazwalsh on Monday 31st August 22:49

mikees

2,745 posts

171 months

Monday 31st August 2015
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Zoobeef said:
I had a fully paid off vx220 turbo when I bought my first house, me and the ex had to save £14k each in 2010, I was 25. I then saved more and change the vx for the noble in 2011, again paid in cash. That house was sold at the start 2012 and we each got £7k back. So lost £7k each in the 18 months. I bought this place at the end of 2012 and bought my second vx soon after. Again cash.

The only thing I don't do much of is waste money on beer. I drunk, but not a few nights a week every week.

I'm currently saving again so me and the current Mrs can get a place together. Wether we both keep our current houses aswell is undecided.
Good man and well done. No sense of entitlement. Just hard work

dazwalsh

6,095 posts

140 months

Monday 31st August 2015
quotequote all
Pentoman said:
This change is a good thing. BTL landlords have been getting free st for too long.

The less-well-off are sick of funding the already-well-off.
Free st? It's a legitimate business expense, and be careful what you wish for, these tax hikes will find their way to the rents charged.

Infact anything levied on the landlords will inadvertently be raising rents as it will just get passed down, and that's why it's one tricky market to be fiddling with. The only way to stifle the BTL market is to build an absolutely ridiculous amount of new housing every year for the foreseeable future and that's not likely to happen anytime soon.




Edited by dazwalsh on Monday 31st August 23:12

mph1977

12,467 posts

167 months

Monday 31st August 2015
quotequote all
dazwalsh said:
Bonkers how blame is applied squarely at landlords for what is essentially a supply and demand issue.


Edited by dazwalsh on Monday 31st August 22:49
the dash for BTL following the 'abolishing boom and bust' policies of Brown and balls has magnified the problems in the FTB end of the market.

PurpleMoonlight

22,362 posts

156 months

Tuesday 1st September 2015
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dazwalsh said:
Free st? It's a legitimate business expense, and be careful what you wish for, these tax hikes will find their way to the rents charged.
But essentially it's an investment not a business.

Why should an individual get tax relief on the costs of a personal investment?

TheLordJohn

5,746 posts

145 months

Tuesday 1st September 2015
quotequote all
mph1977 said:
are the arabs buying up the FTB properties across the country ?
You missed the irony...

amusingduck

9,396 posts

135 months

Tuesday 1st September 2015
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dazwalsh said:
Free st? It's a legitimate business expense
rofl

What is this business strategy? Take out an enormous loan for a small return, waiting for the asset to appreciate.

It almost sounds like an investment.

PurpleMoonlight

22,362 posts

156 months

Tuesday 1st September 2015
quotequote all
amusingduck said:
rofl

What is this business strategy? Take out an enormous loan for a small return, waiting for the asset to appreciate.

It almost sounds like an investment.
And be taxed personal CGT as an investment when you realise the capital appreciation.

ClaphamGT3

11,269 posts

242 months

Tuesday 1st September 2015
quotequote all
amusingduck said:
rofl

What is this business strategy? Take out an enormous loan for a small return, waiting for the asset to appreciate.

It almost sounds like an investment.
That scenario is an increasingly insignificant component of the private rented sector. Institutional investors are very rapidly re-defining this sector based on their appetite for asset backed investments with relatively predictable long term income streams.