"MP hints at buy-to-let tax breaks"

chucky

Housing Minister John Healey has highlighted the need for more private rented property in the UK, and indicated his desire to see more Government support for buy-to-let lenders and facilitators.

“I want to expand the number of homes built for private rent and improve the quality and security of the private rented sector. That means supporting new institutions into this market, including through changes to tax support and incentives.”

Healey said: “Not only is this property piggy bank unsustainable, it is also unfair. Of course, not everyone will want to own property. So we need new choices in tenure – more opportunities for everyone to have a decent, secure, affordable home.

http://www.yourmortgage.co.uk/news/3626452

it doesn't look like the Government is looking at increasing social housing but more in the direction of encouraging private landlords...

dgl1001

chucky wrote: »

http://www.yourmortgage.co.uk/news/3626452

it doesn't look like the Government is looking at increasing social housing but more in the direction of encouraging private landlords...

Interesting post - i'm not surprised the gov, are looking towards the private sector for assistance as they simply haven't the money to build more social housing. the sting in the tail may be the increase in security of tenure. I wait with interest

mr_fishbulb

Grrrrr. They already give them loads of tax breaks. Man-up nancy-boys and invest in the real stock market!

kennyboy66_2

chucky wrote: »

http://www.yourmortgage.co.uk/news/3626452

it doesn't look like the Government is looking at increasing social housing but more in the direction of encouraging private landlords...

I read this, as being very much aimed at tenants, either better tenure length, security and rights or tax incentives for renters to build up savings.

Obviously this is just a load of hot air for the vast majority of renters.

I also doubt if the fall in ownership is out of "choice".

Come on Gordon, jack up capital gains on property and limit interest offset against rental income.

More taxation, and less competition for first time buyers - you know it makes sense.

HAMISH_MCTAVISH

"MP hints at buy-to-let tax breaks"

:rotfl:

Oh dear......

BANG!!!! And the crash is gone.

IveSeenTheLight

mr_fishbulb wrote: »

Grrrrr. They already give them loads of tax breaks. Man-up nancy-boys and invest in the real stock market!

I'll happily be a nancy boy given the positive returns on my BTL investments.

My success in the stock market is somewhat of an opposite parallel.

Why should I continue to invest in the stock market where I have previously failed when I find I am successful in the property I have leased out?

mr_fishbulb

IveSeenTheLight wrote: »

Why should I continue to invest in the stock market where I have previously failed when I find I am successful in the property I have leased out?

Because of all the stick you get on here

IveSeenTheLight

kennyboy66 wrote: »

I read this, as being very much aimed at tenants, either better tenure length, security and rights or tax incentives for renters to build up savings.

.........

Come on Gordon, jack up capital gains on property and limit interest offset against rental income.

More taxation, and less competition for first time buyers - you know it makes sense.

Couple of points: -

1) Increasing the capital gains on property would possibly restrict new investors in the market but also make it less likely for current investors to cash in. If you want more property on the market to reduce the value and make more available for FTBers, a reduction on CGT may be better

2) Interest is already limited. It's limited to the valuation of the property at the time of purchasing. This means that the BTL owner cannot increase the loan above that to gain on taxes.

3) If there is less rental properties available, where will renters turn to. Not everyone can, wants or is able to buy. There are facts that show the amount of rental properties (social and private) are less than they were a decade or two ago.

As a BTL LL, I'd happily allow my tenants to sign up for longer rental periods. Realistically though, there are many tenants who equally do not want held to a long tenure

IveSeenTheLight

mr_fishbulb wrote: »

Because of all the stick you get on here

That's water off a ducks back if it means more pennies in my bank.
Not very MSE of you to suggest I should lose money

Bootski

chucky wrote: »

http://www.yourmortgage.co.uk/news/3626452

it doesn't look like the Government is looking at increasing social housing but more in the direction of encouraging private landlords...

He's a !!!! then, isn't he. What they need to to is give renters more security of tenancy, cheaper and for longer.

The Gov and Housing Associations are so in the red, ie SKINT

I just worry they don't give a toss about the properties they DO still own, the !!!!! residents they house in them, the damage to these properties, other, decent residents and the environment.

I tell you, I've just diagnosed myself with ADHD which permits me to swear and threaten my neighbours, anhilalate the property and damage all the trees and communial surroundings in the area.

Bootski

IveSeenTheLight wrote: »

That's water off a ducks back if it means more pennies in my bank.
Not very MSE of you to suggest I should lose money

If i was in your position - I wouldn't give a toss either. Look after No ! and good luck to youl:eek: