Get ready for more taxes on BTL

pinkshoes

You have to have SOME people buying to let, otherwise the private rental market would be limited and expensive, and the council house list would go through the roof!!

On the other hand, some landlords own 50+ properties in various cities, and everytime anything suitable for a FTB comes onto the market, it's snapped up by someone wanting to BTL!

A solution would be to allow people to have ONE BTL property, then any additional BTL properties would be taxed at normal rate.

Also, all properties coming onto the market should be offered to those intending to live in them for at least 2 years, and if they haven't sold after 2 months, THEN they can be offered to those wishing to BTL.

This way at least FTBs get a chance to get their foot on the ladder.

Gorgeous_George

Some good ideas there pinkshoes.

Maybe charging VAT on rent would be the answer. The VAT threshhold is about £60K so any LL with annual rental income of £60K+ would have to charge VAT on all his rentals. This would limit the number of houses people could own. Not sure why this really matters though but it would surely see the end of housing associations.

I'd be ok on two counts. Firstly, I only own one BTL and secondly, it was on the market for about 2 years. Nobody wanted it because it was a mess. Lots of work later and I have tenants queuing up for it.

The real answer is more new towns. How about a new capital city? And real homes with gardens.



GG

nelly_2

Gorgeous_George wrote: »

Some good ideas there pinkshoes.

Maybe charging VAT on rent would be the answer. The VAT threshhold is about £60K so any LL with annual rental income of £60K+ would have to charge VAT on all his rentals. This would limit the number of houses people could own. Not sure why this really matters though but it would surely see the end of housing associations.

I'd be ok on two counts. Firstly, I only own one BTL and secondly, it was on the market for about 2 years. Nobody wanted it because it was a mess. Lots of work later and I have tenants queuing up for it.

The real answer is more new towns. How about a new capital city? And real homes with gardens.



GG

Why am I not on your ignore list in your sig? what have I done wrong?

I demand inclusion effective imediately ..........or im tellin me mam

wecanhelpu

How about the t0sser list in my sig nel?

mystic_trev

wecanhelpu wrote: »

me, me, me, me, me

What a t0sser

I'm very sorry wecanhelpu, if you don't apologise to GG and give him lots of ((((:kisses:))) I'm going to have to send you to the 'Reincarnation thread' as a Frog :rotfl:

http://forums.moneysavingexpert.com/showthread.html?t=485431

Melissa177

tr3mor wrote: »

So, what would I rather pay? £9000 a year in rent or £12000 a year in interest?

But that is assuming that house prices stay the same.

Gorgeous_George

nelly wrote: »

Why am I not on your ignore list in your sig? what have I done wrong?

I demand inclusion effective imediately ..........or im tellin me mam

Nelly, you make I laugh.

You are never offensive in the way that wecanhelpu has been. sortofok and mr broderick (probably one user) just irritated me.

I love your avatar. Is it a close resemblence?

And plastering is an art form I've never mastered - respect.



GG

mystic_trev

nelly wrote: »

Why am I not on your ignore list in your sig? what have I done wrong?

Yer knows where you've got park that van Nelly!

Clue - Buses....................and stop! :eek:

thesaint

pinkshoes wrote: »

<snip>
Also, all properties coming onto the market should be offered to those intending to live in them for at least 2 years, and if they haven't sold after 2 months, THEN they can be offered to those wishing to BTL.

This way at least FTBs get a chance to get their foot on the ladder.

So when the House Price Crash comes:rolleyes: a seller will have an extra 2 months of mortgage payments to endure before allowing the whole market to take a chance to buy their property?

Guess the equity in their property drops 50k in these intervening months?
I do not think these desperate people will thank you for this?

pickles110564

tr3mor wrote: »

Rubbish, I'm getting a new rental next week. Costing me £750pcm, to buy it would be £250k.

If I bought the same place with a 100% mortgage at a rate of 5% (simple numbers for calculation) then I'd be paying the bank £12500 a year in interest.

So, what would I rather pay? £9000 a year in rent or £12000 a year in interest?

This does not seem like a 1st time buyer property, why do you think you should be able to buy straight in at that level, get real start at the bottom like all sensible people do