capital gains tax?? is the panic here??

chucky

Dirk_Rambo wrote: »

to be honest it never really stopped round near where i live. its been downhill all the way

i've missed ya mewbie

headcone

brit1234 wrote: »

The house price crash has resumed, thats what happened.

Buying anytime soon then?

headcone

Emy1501 wrote: »

Nearly double the number of properties available in my area now than in Jan. Fair few empty properties too. I'm looking at 3 empty ones over the weekend.

So am i and i`m a multiple property owning mortgage free cash buyer/Landlord.

new_home_owner_3

chucky wrote: »

Private Residence Relief = where a house has at any time ever been your PPR, then the gain relating to the previous 36 months of ownership will be free of tax when selling that home.

it's not as straight forward for people to have to pay CGT.
many people will not be liable to it at all.

I think what chuckys saying if they would have changed the 36 month tax free a lot of accidental landlords would have put their houses up for sale to avoid paying any capital gains.

By them not changing this a lot of accidental landlords wont need to sell and even if they do it wont pay the full lot especially if they have lived in the house for a number of years, it seems like all they have done is just upped it.

infact i cant see it really effecting anyone for the next few years....

Thrugelmir

new_home_owner wrote: »

I think what chuckys saying if they would have changed the 36 month tax free a lot of accidental landlords would have put their houses up for sale to avoid paying any capital gains.

By them not changing this a lot of accidental landlords wont need to sell and even if they do it wont pay the full lot especially if they have lived in the house for a number of years, it seems like all they have done is just upped it.

infact i cant see it really effecting anyone for the next few years....

Then you obviously missed the Nationwide loading an additional 1.5% charge onto residential mortgages after the intial CTL period expires.

What was more enlightening, was abuse of the system with many people owning multiple properties under this guise. And they are the ones complaining the most. As they see either their rental profits disappear or their rents no longer covering their mortgages.

IveSeenTheLight

Dirk_Rambo wrote: »

to be honest it never really stopped round near where i live. its been downhill all the way

You must live in hope that if you repeat something often enough, it might just happen.

Factually speaking however, you've had two months of small falls.
All natural in a period of stagnation where you have some months up and some months down

Emy1501

Gorgeous_George wrote: »

Crikey, more homes for sale in July than in January. What a shocker!

And HIPs were scrapped to add to the seasonal boost.

GG

Nearly double? I dont think so. HIP's has made little difference where I am as roughly the same number of properties are coming on per week now as before HIP's. Difference is hardly anyone is buying now.

The market round my way is similar to the summer of 2007. figures say prices are still rising but not alot is selling and alot of people are droping prices.

chucky

Thrugelmir wrote: »

Then you obviously missed the Nationwide loading an additional 1.5% charge onto residential mortgages after the intial CTL period expires.

why is this different to any time in the last 20 years.

building societies have usually always put a surchage on loans if they were to be let.

if this will have such an impact - how many people does it affect?

new_home_owner_3

Thrugelmir wrote: »

Then you obviously missed the Nationwide loading an additional 1.5% charge onto residential mortgages after the intial CTL period expires.

What was more enlightening, was abuse of the system with many people owning multiple properties under this guise. And they are the ones complaining the most. As they see either their rental profits disappear or their rents no longer covering their mortgages.

That would be a bit of a wounder, i paid a one off fee of 199 pound and kept the same rate, ive also got a letter saying that after two years if i wish to continue with the consent to let i will have to pay a further 199 pound for another 2 years.

I wont be jumping onto a btl mortgage until my five year deal is up and thats in 4 years.

Even if i went onto a btl mortgage now i would still cover my mortgage and make a profit, but in 4 years time and the way rents are rising and the shortage of rental properties by me i could be earning double of what my mortgage is in 4 years.

Also what you must remember a lot of landlords havent even got consent to let, and it only becomes a propblem to the mortgage provider when the mortgage payments are missed.

im not saying its right but if i knew my mortgage company wouldnt have gave me consent to let i would have done it, and by looking on here in the forums you can see loads of people have done it.