Government wants stamp duty and tax cuts for buy to let.

Gorgeous_George

I think the report is the way to go.

Why we have such an obsession with home-ownership is beyond me. Renting is far more flexible and can prove to be so much cheaper than owning.

What is needed are more rental properties. The councils don't want to own them so housing associations and private rentals are the only way to go. Better landlords would surely be welcomed and the licencing scheme must be brought in. Improve tenants' rights by scrapping the 6 months' AST and introduce a 12 months notice period. Offset this by increasing landlords' rights to evict if rent is not paid or the property is damaged. More rights - more responsibilities.

As for the old tax chesnut. Landlords do NOT get favourable treatment over FTBers. The belief that they do is repeatedly spouted by BTL-bashers but is simply misinformation. That said, I believe there is no reason to remove CGT from the equation - unless this could be used to fund a right-to-buy scheme for private tenants similar to the RTB scheme for council tenants.

Without HPI, there is no reason for people to be so bitter towards landlords.

GG

ad44downey

Gorgeous_George wrote: »

As for the old tax chesnut. Landlords do NOT get favourable treatment over FTBers. .

FTBers should get favourable treatment over BTL chancers though. I'd tax the BTlet lowlife at about 90% until they squeak

Generali

ad44downey wrote: »

FTBers should get favourable treatment over BTL chancers though. I'd tax the BTlet lowlife at about 90% until they squeak

Who would then provide rented accomodation?

MissMoneypenny

Generali wrote: »

You'll have to accept a higher tax bill as a result and also that people who are not in social housing are subsidising those that are.

I can't help but wonder with this ease of being able to live in another county now, what's to keep the non welfare claiming tax payers in the UK?

Gorgeous_George

ad44downey wrote: »

FTBers should get favourable treatment over BTL chancers though. I'd tax the BTlet lowlife at about 90% until they squeak

I take you don't rent privately. If there was no market, BTL would disappear.

There are many wise people who prefer to rent and there are many who cannot afford to buy. Sadly, many of those who cannot afford to buy have done so. They will wish that they had rented rather believing the anti-BTL brigade.

GG

Generali

MissMoneypenny wrote: »

I can't help but wonder with this ease of being able to live in another county now, what's to keep the non welfare claiming tax payers in the UK?

Nothing at all. It's why we're off to Aus.

brit1234

Gorgeous_George wrote: »

Without HPI, there is no reason for people to be so bitter towards landlords.

GG

During University i wasn't bitter against landlords, I had some good clean, basic, cheap accomadation and decent landlords. Then came the buy to let boom where property was turned into a investment and i was priced out. I just wish it could go back to the way it was. Of course people are now going to be bitter against landlords when they can't afford a home and you here investors boasting about purchasing more properties and the size of their ever growing portfolio.

So government plans like this are up setting at the least. They have completly lost understanding of the basic persons needs and now detached so far from reality.

Generali

brit1234 wrote: »

During University i wasn't bitter against landlords, I had some good clean, basic, cheap accomadation and decent landlords. Then came the buy to let boom where property was turned into a investment and i was priced out. I just wish it could go back to the way it was. Of course people are now going to be bitter against landlords when they can't afford a home and you here investors boasting about purchasing more properties and the size of their ever growing portfolio.

So government plans like this are up setting at the least. They have completly lost understanding of the basic persons needs and now detached so far from reality.

That doesn't address the central issue though. If you effectively ban BTL, who provides rented accomodation?

tbs624

Owning up to getting your news from the DM Brit? There 's probably a support group somewhere to help you with that..;)

Only just picked up on this thread as I don't always trawl the House Prices sub board - if anyone's interested in seeing the actual report rather than Brit1234's rant and the Daily Mail version it's in a link I posted up earlier here:

Gorgeous_George

Generali wrote: »

That doesn't address the central issue though. If you effectively ban BTL, who provides rented accomodation?

People want to be able to:

1. buy a house at whatever price they decide it's worth.

or

2. rent from the council so that they can miss payments whenever they want and get repairs done to things that they break for free.

errrr..., it doesn't work like that.

GG