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Starter homes being bought by BTL LLs

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Comments

  • ILW
    ILW Posts: 18,333 Forumite
    shortchanged wrote: »
    Remove all the props for starters. Get rid of tax breaks for BTL's. Build more social housing.
    There are no specific tax breaks for BTLs.
  • Turnbull2000
    Turnbull2000 Posts: 1,807 Forumite
    shortchanged wrote: »
    Remove all the props for starters. Get rid of tax breaks for BTL's. Build more social housing.

    What's your realistic solutions? There's no political will for building lots of social housing and hitting BTL. In fact, the Tories are looking to extend right-to-buy discounts to £100,000 and continue to encourage investor purchases.

    As for the props, well, they're only going to be reinforced this coming Budget.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • shortchanged_2
    shortchanged_2 Posts: 5,546 Forumite
    Turnbull2000 wrote: »
    What's your realistic solutions? There's no political will for building lots of social housing and hitting BTL. In fact, the Tories are looking to extend right-to-buy discounts to £100,000 and continue to encourage investor purchases.

    As for the props, well, they're only going to be reinforced this coming Budget.

    Well they are the realistic solutions. But I guess because there are too many VI's in government I agree it probably won't happen.
    Why are we here?......................because we are not all there.
  • Turnbull2000
    Turnbull2000 Posts: 1,807 Forumite
    shortchanged wrote: »
    Well they are the realistic solutions. But I guess because there are too many VI's in government I agree it probably won't happen.

    Realistic - as in a chance of it happening. There's simply no chance of your suggestions happening.

    Here's realistic for you...

    Further QE, an extension of Funding for Lending, taxpayer underwriting of first-time buyer 95-100% mortgages, tax breaks for multiple BTL investor purchases, grants for BTL investor property renovations, large increase in Right-to-Buy discounts etc.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    shortchanged wrote: »
    But I guess because there are too many VI's in government I agree it probably won't happen.

    The UK banks (RBS & Lloyds in particular) along with NRAM are still reliant on a stable property market.

    Even Nationwide is now voicing concerns over regulatory capital requirements. As would struggle to comply with them .

    Bank balance sheets are still weak. Like Cyprus may well yet require further capitalisation.

    BTL is a secure form of lending. As requirements are now stricter than residential lending. So might be the case that some BTL LL's have put more on the line than they realise, i.e. their residential home as security.
  • player
    player Posts: 61 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Turnbull2000 wrote: »
    Realistic - as in a chance of it happening. There's simply no chance of your suggestions happening.

    Here's realistic for you...

    Further QE, an extension of Funding for Lending, taxpayer underwriting of first-time buyer 95-100% mortgages, tax breaks for multiple BTL investor purchases, grants for BTL investor property renovations, large increase in Right-to-Buy discounts etc.

    Why thank you, solutions to problems as opposed to endless political cynicism & drivel.
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