Get ready for more taxes on BTL

realwildone

There now seems to be a massive push from most of the media and some polititians to stem the flow of BTL.

It now looks highly likely that there will be more taxes for the BTL brigade or at least an end to taper relief.

Now is the time to dump your BTL and move into something else. Any later will be too late.

The government has done what they intended to do. Hold up the housing market and increase social housing at the publics expence. Now they can target that same group of people (which most of the population hate) with a new set of taxes.

You have been caught, hook, line and sinker.

kingkano

So the politicians are going to 'reel themselves in' (dont forget most of them are 3 or 4 home owners)!!

lynzpower

I dont know why the rejoicing here if this happens.

I can see where I live being sold. And what I have to move somewhere else ( costing me admin charges, credit charges) plus moving costs of vans ands the like ( few hundred quid) to rent somewhere which is likely to be more expensive

I dont know WHY so many MSErs seem to think that constricting the market,taxing LLs more, makes it any better for moneysavers like me who cannot afford mortgages at the current state of play.

Could you explain this one to me please?

thesaint

realwildone wrote: »

Now is the time to dump your BTL and move into something else. Any later will be too late.

It's a Sunday, i'm shafted.:mad:

mystic_trev

realwildone wrote: »

Now is the time to dump your BTL and move into something else. Any later will be too late.

Got any suggestions? Most Asset classes look overvalued to me, including Gold.

mystic_trev

On BBC

http://news.bbc.co.uk/1/hi/programmes/moneybox/6233266.stm

realwildone

Got any suggestions? Most Asset classes look overvalued to me, including Gold.

There is always stupid ideas like:-

Working or Starting a business

It's a Sunday, i'm shafted.

Did you mean you or your tenants

I dont know why the rejoicing here if this happens.

I can see where I live being sold. And what I have to move somewhere else ( costing me admin charges, credit charges) plus moving costs of vans ands the like ( few hundred quid) to rent somewhere which is likely to be more expensive

I dont know WHY so many MSErs seem to think that constricting the market,taxing LLs more, makes it any better for moneysavers like me who cannot afford mortgages at the current state of play.

Could you explain this one to me please?

Its because of these people aren't taxed that you cannot afford a home. Your bad luck is their good luck.

thesaint

realwildone wrote: »

Did you mean you or your tenants

Both, me because tomorrow is too late to sell and i'm stuck with my properties, and my tenants because I will be forced to sell for 40% of the market value and they will have to live on the streets.

Ad

Savings beat being a Landlord -

http://observer.guardian.co.uk/business/story/0,,2109703,00.html


Rental Market flooded -

http://observer.guardian.co.uk/cash/story/0,,2109762,00.html


Negative Equity is stalking potential buyers -

http://www.dailymail.co.uk/pages/dmstandard/frame.html?in_bottom=http:%2F%2Fwww.thisismoney.co.uk%2Fmortgages%2Findex.html%3Fin_page_id%3D8&in_page_id=1804


Bring on the catastrophe -

http://money.guardian.co.uk/property/buyingtolet/story/0,,2109133,00.html


The removal of tax relief for landlords would bring about an instant death to the market. :eek:


The media have certainly turned and seem to have the knives out for the 'Buy to let' crowd. One year ago these articles were unheard of. :eek:

wifeforlife

lynzpower wrote: »

I dont know why the rejoicing here if this happens.

I can see where I live being sold. And what I have to move somewhere else ( costing me admin charges, credit charges) plus moving costs of vans ands the like ( few hundred quid) to rent somewhere which is likely to be more expensive

I dont know WHY so many MSErs seem to think that constricting the market,taxing LLs more, makes it any better for moneysavers like me who cannot afford mortgages at the current state of play.

Could you explain this one to me please?

I agree!!!

Cate

Ad

thesaint wrote: »

Both, me because tomorrow is too late to sell and i'm stuck with my properties, and my tenants because I will be forced to sell for 40% of the market value and they will have to live on the streets.

They wouldn't end up on the street there is a glut of rental properties up and down the country and an ocean of brand new apartments deliberately left empty for speculative gains. There is no shortage of property only affordable property.