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It seems there's no help for us young home owners!!
Comments
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Why shouldn't decent hard working people get handouts?
All the scum of the earth seem to get them!!!0 -
Historically low interest-rates sound like a bit of a handout-out to me.0
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Recently bought my first home back in August 2010.
From day 0 to now, there has been no help/incentives from the government, which I find hard considering the countries "big push" to get younger people like myself on the proiperty ladder.
What big push? You've chosen to buy whereas others people of your age either can't get the finance, or, associated, don't want to take on the sort of mortgage debt to pay old world boom time prices. Of course many a property owner would love you to push yourself into buying at old time prices in order to support current house prices.Quit your whining, you managed to buy your property, which is more than loads of people can manage. No one forced you to into it and due to the nature of buying property, it really is your own responsibility to do the maths before taking the plunge.
Exactly.
"Please sir, can I have some more?"0 -
I agree that it contributed to the problem but it's more complex than thatOther businesses arent depriving the younger population from enjoying the cheap housing the previous generation did.
Because that's how business tax works - you pay tax on your net profit.Personally, I think btl should be disincentivised. Why should they be able to offset a business expense against tax? It makes no sense. If the government were responsible for the cost, for example, VAT, then fair enough.
Of course it should - as already stated, it's a bonafide business expense .It's no different from a shop or garage owner setting their rental/loan costs against their income. The Govt needs the PRS to thrive.I wish I could offset my mortgage against my 40% tax, but I cant. BTL shouldnt be any different.
Why should you get a tax break on a residential mortgage on a property in which you personally are going to live?0 -
It depends on whether you consider BTL a legit business.
Looking at the number of chancers on here, I would suggest it isnt, its more of a hobby for many. If BTL wants to be treated as a business, it needs a trade body and legal monitoring at every stage. something I dont think bankrupt people with flash cars and penchants for spending all their time away on holiday would appreciate.0 -
It depends on whether you consider BTL a legit business.
Looking at the number of chancers on here, I would suggest it isnt, its more of a hobby for many. If BTL wants to be treated as a business, it needs a trade body and legal monitoring at every stage. something I dont think bankrupt people with flash cars and penchants for spending all their time away on holiday would appreciate.
There are plenty of trade bodies for lettings generally - landlord associations and the like. What do you mean by legal monitoring? There are various Housing Acts and other legal requirements for landlords that must be followed.
Just because some people who don't know what they're doing have jumped on the BTL wagon doesn't mean everyone treats it like a hobby rather than a business. Once local and central government mainly stepped out of housing provision in the 1980s something had to fill the void.
I'm not a landlord before you start.0 -
It depends on whether you consider BTL a legit business.
Looking at the number of chancers on here, I would suggest it isnt, its more of a hobby for many. If BTL wants to be treated as a business, it needs a trade body and legal monitoring at every stage. something I dont think bankrupt people with flash cars and penchants for spending all their time away on holiday would appreciate.
What is it with decent cars that seems to get peoples backs up?0
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