Self emp and rent

[m3sye]

So say you're a taxi driver normally earning say £800 a week and rent a £700pm house, due to no one going anywhere you are now taking £80 a week...

Am I right in saying the best someone could get in this situation is SSP and 30% help with their rent?

[thebraketester]

Universal Credit

[m3sye]

thebraketester said:

Universal Credit

So £315 pm?

[thebraketester]

m3sye said:

thebraketester said:

Universal Credit

So £315 pm?

Somewhere in that region yes. We have yet to see what the government intend to do with SE people.... so things may well change next week....we can hope

[Killer2005]

And the landlord can apply for a mortgage holiday so should hopefully pass the saving onto yourself.

[KrissKross]

Killer2005 said:

And the landlord can apply for a mortgage holiday so should hopefully pass the saving onto yourself.

So the tenant gets a rent holiday, and has to pay the landlord back when this is all over?

[thebraketester]

Killer2005 said:

And the landlord can apply for a mortgage holiday so should hopefully pass the saving onto yourself.

Its not "3 months free" to the landlord though, its basically 3 months deferred and added onto your outstanding mortgage amount.... so I imagine that not many will be so forward in agreeing to waive rent.

[king arthur]

Apply for UC and the housing benefit part of it. With the minimum income floor removed they no longer assume you make minimum wage so presumably you'll get a payment which is what they expect people can live on. I don't know what that would work out to be but it's got to be worth getting.

[m3sye]

Killer2005 said:

And the landlord can apply for a mortgage holiday so should hopefully pass the saving onto yourself.

Thats if the landlord has a mortgage and is not using the rent to live as their pension.

[98elise]

m3sye said:

Killer2005 said:

And the landlord can apply for a mortgage holiday so should hopefully pass the saving onto yourself.

Thats if the landlord has a mortgage and is not using the rent to live as their pension.

This. I have rental property which returns me 5% on my investment. If my tenants take the holiday offered by the government then that's paid by me. My loan is secured against my own home, not the rental property.

The tenant is already many months in arrears yet they can now take a holiday at my expense and there is fk all I can do because I'm the rich one that has to suck it up.

[hyphen]

98elise said:

m3sye said:

Killer2005 said:

And the landlord can apply for a mortgage holiday so should hopefully pass the saving onto yourself.

Thats if the landlord has a mortgage and is not using the rent to live as their pension.

This. I have rental property which returns me 5% on my investment. If my tenants take the holiday offered by the government then that's paid by me. My loan is secured against my own home, not the rental property.

The tenant is already many months in arrears yet they can now take a holiday at my expense and there is fk all I can do because I'm the rich one that has to suck it up.

How much did you buy it for? How much is it now worth?

[mike74]

98elise said:

This. I have rental property which returns me 5% on my investment. If my tenants take the holiday offered by the government then that's paid by me. My loan is secured against my own home, not the rental property.

The tenant is already many months in arrears yet they can now take a holiday at my expense and there is fk all I can do because I'm the rich one that has to suck it up.

I suppose that's just one of the hazards of being a Borrow To Leech landlord.

[Camelot1971]

m3sye said:

So say you're a taxi driver normally earning say £800 a week and rent a £700pm house, due to no one going anywhere you are now taking £80 a week...

Am I right in saying the best someone could get in this situation is SSP and 30% help with their rent?

Do you mean £200 a week on the books and rest cash in hand?

[GloverMart]

This will probably be the stupidest question on the thread but my situation is as follows...

I rent my house, I'm on a low income and receive HB and WTC. Two thirds of my income is through self-employed driving work and one third is through PAYE. The PAYE work has temporarily gone (I'm an in-ground analyst so no football = no work) but at present, my driving work is still okay. Do I qualify for any help at all?

I guess that the £1,000 WTC payment would be available; my local authority is still on the historic tax credits rather than UC.

[Agammemnon]

mike74 said:

I suppose that's just one of the hazards of being a Borrow To Leech landlord.

Also known as someone who has borrowed as an investment in the business of providing housing to those who need it.

I sense a certain amount of spite & jealousy in your comments. It's not a good look.

[23rdian]

Agammemnon said:

Also known as someone who has borrowed as an investment in the business of providing housing to those who need it.

I sense a certain amount of spite & jealousy in your comments. It's not a good look.

Would the bricks and mortar not exist without the Borrow To Leacher then? What's the difference between profiteering from an essential commodity like being housed than profiteering on masks or Calpol then?

Especially when you are not sure even using your own capital to price others out. You lot can't burn fast enough.

Edited by 23rdian on Saturday 21st March 09:36

[Gecko1978]

23rdian said:

Agammemnon said:

Also known as someone who has borrowed as an investment in the business of providing housing to those who need it.

I sense a certain amount of spite & jealousy in your comments. It's not a good look.

Would the bricks and mortar not exist without the Borrow To Leacher then? What's the difference between profiteering from an essential commodity like being housed than profiteering on masks or Calpol then?

Especially when you are not sure even using your own capital to price others out. You lot can't burn fast enough.

Edited by 23rdian on Saturday 21st March 09:36

The bricks and mortar would not be turend into a house or flat unless their was demand. You have to assume the poster paid the fair free market price for the property its not a special club where rich folk are allowed to buy houses and enslave the poor. He probably worked hard and felt it was a better investment than other options and the tennants were happy to have a home (others are available).

[Oakey]

GloverMart said:

This will probably be the stupidest question on the thread but my situation is as follows...

I rent my house, I'm on a low income and receive HB and WTC. Two thirds of my income is through self-employed driving work and one third is through PAYE. The PAYE work has temporarily gone (I'm an in-ground analyst so no football = no work) but at present, my driving work is still okay. Do I qualify for any help at all?

I guess that the £1,000 WTC payment would be available; my local authority is still on the historic tax credits rather than UC.

You'd think the government would offer the self employed the same deal they just made to everyone else based on what they've declared on their previous tax return. If they've been dishonest and fiddled it then that's on them but for those who have been genuine with their declarations it would certainly help. It should be the easiest thing in the world to administer as well seeing as they already have the information!

[MrT8064]

Really hope this does happen.

I've been de-facto employed (i.e. self employed, but not really) at one place of work, with regular hours and regular pay for a few years. Yesterday I was told that i'll be paid for next week, but after that i'll probably be on my own.

Of course mistakes have been made on my part – I should have pushed to be put on PAYE, or arranged some sort of 'loss of earnings' insurance, in addition to the health insurance that I did set up – but these are only the things one considers in hindsight. Fortunately I have saved up enough to keep me afloat for 6 months if need be – but that money was meant to be for a house deposit.

[Gecko1978]

MrT8064 said:

Really hope this does happen.

I've been de-facto employed (i.e. self employed, but not really) at one place of work, with regular hours and regular pay for a few years. Yesterday I was told that i'll be paid for next week, but after that i'll probably be on my own.

Of course mistakes have been made on my part – I should have pushed to be put on PAYE, or arranged some sort of 'loss of earnings' insurance, in addition to the health insurance that I did set up – but these are only the things one considers in hindsight. Fortunately I have saved up enough to keep me afloat for 6 months if need be – but that money was meant to be for a house deposit.

As a contractor best thing bank I work at could do is remove the stupid blanket ban on outside IR35 it came in last month been their since Jan, sees two other firms in the supply chain handel the cash before me. Go back to outside and i get cash direct for as long as i keep my contract and then at least i am not of the mercy or recruitment frim an an umbrella who both face bankruptcy and are highly likely to look after themselves with cash i have earned.

Its life and I don't blame them but ir35 is a fking shambles. Not least as one clinet pays direct and the other PAYE via umbrella. As yet neither have paid this months invoicr mind you lol so fked either way.