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

[daytona365]

Death of buy-to-let: landlords wake up to Osborne's 150pc tax .......This is in the Daily Telegraph Re: Budget sees new punitive taxes on buy to let profits that could go past 100% ?!.............So will BTL collapse, or will rents rise to cover ?...Either way absolutely shocking and not what you'd expect from Conservatives....................Bestial !!

[daytona365]

Sorry, really don't know how, but it's all there on the Daily Telegraph website.

[daytona365]

Except for the people that want to rent somewhere, suppose they'll have to go to smelly hostels instead ?!

[daytona365]

How are those leaky borders doing ? This is THE ONLY issue of any importance facing this country. Hence this smoke and mirrors charade ? Imo.

[daytona365]

So how much are houses going to drop in price due to this then, 10% eventually/maybe. If FTB can't buy an average small house in a cheap area now for 400/450k, will they manage if they come down to 360/405k ?

[daytona365]

Maybe on reflection this isn't so bad after all. Should ease the spread of 'slum landlords' who put down a minimum deposit on less than ideal properties then cram them full of deadbeats turning nice locations into no go areas that the taxpayer has to pay for, whilst proudly proclaiming that they 'own' three, six, ten properties, when in reality they own hardly FA !!

Edited by daytona365 on Saturday 22 August 16:19

[daytona365]

Buys a whole town in Mogadishu.

[daytona365]

These useless youngsters, all me, me, me. It wasn't easy for us either. They should bloody well wait and inherit like we had to do.

[daytona365]

Pity there's not more compassion in this world for people who have not been so fortunate and often through no fault of their own....So who should we have compassion for, FTB's or the ragbag army that's been invited into this country ? They need tea and sympathy (and a house) too !

[daytona365]

Wow, you've got to admit, an ex council leasehold studio in Peckham is mighty tempting for just 150k ?

[daytona365]

RWD cossie wil said:

It's not fair, I want a Ferarri, but I can only afford a fiesta....it's all the older generations fault so they should be punished.

Paint it magnolia then and fix the leaking roof.

[daytona365]

The tragedy is that many 'boomers' will never be able to size up to that dream house with sea views in say Cornwall or that chocolate box 5 bedroom cottage in the Cotswolds.

[daytona365]

Reading is a popular location, so surely long term the house will continue to appreciate at a decent rate, thus cancelling out this negative ?

[daytona365]

Of course BTL's are merely filling the vacuum created by the governments inability to provide housing. BTL houses are the modern era 'council houses'.

[daytona365]

1975. It's gone up literally around 10,000%......Guess I had good foresight eh ?

[daytona365]

Quite right, and they need good foresight as well. The ability to look 40 years hence, as we had to do !

[daytona365]

TooMany2cvs said:

daytona365 said:

1975. It's gone up literally around 10,000%......Guess I had good foresight eh ?

Really? LITERALLY 100x since 1975?

My parents bought their house in a very nice village in Derbyshire's Peak District in 1980. My mother's got it on the market at the mo - for only ten times the amount, despite having been extended and improved.

And it's been for sale for over a year now.

Perhaps you should snap up such an utter bargain?

The peak district is very nice, but it's not the republic of London now is it ?

[daytona365]

No, honestly it's true, or at least very close, though to be honest it did need a lot of renovation.