Debate House Prices
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BTL is in desperate need of reform
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Rentals transfer money from the have nots to the wealthy, many who live in tax havens abroad. They are a drain on society. All rental stock should be nationalised and used for the good of the nation. The FSA needs to take ownership of the BTL problem and show some teeth.0
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It would be a lot easier if they don't have to sell their house [STRIKE]into a stagnant market[/STRIKE] for less than top dollar, it is about flexibility and mobility of the workforce.
Corrected that for you. One would expect a motivated seller, such as you describe, to be able to encourage a buyer out of the woodwork should the need arise.0 -
Wee_Willy_Harris wrote: »Corrected that for you. One would expect a motivated seller, such as you describe, to be able to encourage a buyer out of the woodwork should the need arise.
As I mentioned to Dev, I can see where you are coming from.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
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Where is the profit if they have to pay rent somewhere else
they still only have to pay the cost of living in one property, assuming that the rent is covers their mortgage interest. currently they only pay tax if the rent they receive is in excess of the rent they receive.
what you are proposing is that if you decide not to sell your house, and to instead rent it out and then rent a second property for yourself, the tax system should automatically make you better off for doing so.
frankly, people should just sell their houses. if they are selling into a stagnant market they are also buying in a stagnant market.0 -
chewmylegoff wrote: »they still only have to pay the cost of living in one property, assuming that the rent is covers their mortgage interest. currently they only pay tax if the rent they receive is in excess of the rent they receive.
what you are proposing is that if you decide not to sell your house, and to instead rent it out and then rent a second property for yourself, the tax system should automatically make you better off for doing so.
frankly, people should just sell their houses. if they are selling into a stagnant market they are also buying in a stagnant market.
+1 on that, plus it's the choice you make when you buy. There are pros and cons with buying versus renting, and it's wrong that someone buying essentially gets a one way bet.0 -
+1 on that, plus it's the choice you make when you buy. There are pros and cons with buying versus renting, and it's wrong that someone buying essentially gets a one way bet.
I am impressed if you and Dev can understand that post.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
chewmylegoff wrote: »they still only have to pay the cost of living in one property, assuming that the rent is covers their mortgage interest. currently they only pay tax if the rent they receive is in excess of the rent they receive.
what you are proposing is that if you decide not to sell your house, and to instead rent it out and then rent a second property for yourself, the tax system should automatically make you better off for doing so.
frankly, people should just sell their houses. if they are selling into a stagnant market they are also buying in a stagnant market.
Why is it making you better off? I am merely proposing that (all things being equal) the rent that you pay out is equal to the rent you receive in. In actual fact I am proposing that you still lose out because of letting agent fees.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
As I mention above, letting agents could add the 'expertise'.
Clearly you have never in your life met a letting agent.
There is no such thing as an 'accidental landlord'. I can assure you that people who become landlords do so quite deliberately. What we do have though are a lot of ignorant and unfit landlords.0 -
All rental stock should be nationalised and used for the good of the nation.
Why? So the government can lapse on maintenance and sell off cheap to tenants.
That's partially what got us to the situation were in at the moment (the social housing sell off) along with the unbalanced property building to households ratio each year.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0
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