118 Landlords Panic and try lobbying MP's yet again

chucknorris

IronWolf wrote: »

Yes I see what you're saying, holding just 2-3 bonds would of course be 'riskier' than a fund, and there's the opportunity cost of tying up your money for so long, but you wouldn't suffer a capital loss. I think the stock market is far more attractive atm despite being near its all time highs, I might even be more tempted by NS&I than corporate bonds (I assume you have too much for a bank account) as the yields on investment grade bonds isn't that much better and you can access your money any time.

I'm hoping that by the time I completely sell up (although to have a diversified portfolio, I may actually keep 1 or even 2 properties) that interest rates and bond yields will look rosier. I am also interested in building our own home (managing it, not physically building it), I would be interested in doing this every 4-5 years (it is very tax efficient). But my wife sees this as problematic (logistically), maybe when we have actually built the first one she will see it differently. I'm hoping that building our own home will be more fun and interesting than being like work.

Old_Git

I am a landlord ,not in a big way just two properties .
I took advantage of the lower interest rates and repaid my mortgage .
I took out a personal loan to repay the last of my mortgage .
Yes I will pay a bit more tax when its all paid ,but I will keep more profit .
If interest rates rise it wont affect me .
I have one good tenant and one pain that is moving .It wont make me a millionaire but I won't go bust .One of the houses I rent out was my home for 16 years so there are still a few tax advantages there .

chucknorris

Old_Git wrote: »

I am a landlord ,not in a big way just two properties .
I took advantage of the lower interest rates and repaid my mortgage .
I took out a personal loan to repay the last of my mortgage .
Yes I will pay a bit more tax when its all paid ,but I will keep more profit .
If interest rates rise it wont affect me .
I have one good tenant and one pain that is moving .It wont make me a millionaire but I won't go bust .One of the houses I rent out was my home for 16 years so there are still a few tax advantages there .

I've lived in 3 of mine as well, not that anything has been said yet, but I'm going to sell 2 of those 3 first, and in the near future, just in case the letting relief is tampered with or at worst completely done away with.

chucknorris

allthingsmustpass wrote: »

If ever there was a post that shot the poster in the foot, dear oh dear.

If anyone has shot themselves in the foot, it is certainly you. I'm still waiting to hear what entrepreneurial activities you actually do, how much profit you made from it/them, and what your profession/job is.

cells

chucknorris wrote: »

I've lived in 2 of mine as well, not that anything has been said yet, but I'm going to sell those two first just in case the letting relief is tampered with or at worst completely done away with.

My feeling is that they will do away with it altogether as they already give out 18 months CGT free once let so not exactly sure why there is then a £40,000 lettings relief grace on top of that too? Its definitely a nice but I suspect these perks will go and perhaps sooner rather than later

I also think they might reduce the 18 month to 12 months. Or perhaps do away with it altogether for anyone who has more than 2 properties

chucknorris

cells wrote: »

My feeling is that they will do away with it altogether as they already give out 18 months CGT free once let so not exactly sure why there is then a £40,000 lettings relief grace on top of that too? Its definitely a nice but I suspect these perks will go and perhaps sooner rather than later

I also think they might reduce the 18 month to 12 months. Or perhaps do away with it altogether for anyone who has more than 2 properties

I also think it might appear on the chancellor's radar at some point.

wotsthat

Graham_Devon wrote: »

Who said anything about nationalising any homes?

Once again, you resort to making things up to take issue with them.

So the council's going to create new supply to house a million people? If it's so very easy why hasn't it been done already?

I don't know how you become so detached from how stuff is funded. You either pay very little tax yourself or are so scared of a single penny going into a hated BTL owner's pocket it's clouding your judgement.

Not all of those million people need the taxpayer to build them a house or subsidise their rent in perpetuity. You seem to be awfully generous when it comes to other people's money.

Until we deal with the root causes of the housing shortage (a system designed to make rich landowners even richer) nothing will change in any significant way. In the meantime what's wrong with the current system where other people risk their own capital to run a lettings business and the government apply a squeeze to try and push costs back to the landlord and tenant and away from the taxpayer?

poppy10_2

wotsthat wrote: »

So the council's going to create new supply to house a million people? If it's so very easy why hasn't it been done already?

What do you think is going to happen to those million houses? Are BTL landlords going to demolish them rather than pay their taxes?

The houses will not suddenly disappear because a few landlords pull out. The houses will still exist. Either they will be rented out (by the council or other landlords), or they will come on to the market for sale, leading to lower house prices and allowing some of those currently in the rental trap to achieve the dream of home ownership.

wotsthat

poppy10 wrote: »

What do you think is going to happen to those million houses? Are BTL landlords going to demolish them rather than pay their taxes?

The houses will not suddenly disappear because a few landlords pull out. The houses will still exist. Either they will be rented out (by the council or other landlords), or they will come on to the market for sale, leading to lower house prices and allowing some of those currently in the rental trap to achieve the dream of home ownership.

Of course. Graham was suggesting it wouldn't be a problem if BTL was banned because the council could easily sort the problem of a million renters. through methods, as yet, unspecified.

In the real world the market will decide.

Although I'm not sure why banning BTL would have much of a material net effect on prices. Maybe we should ban all renting as a solution to high prices?

ruggedtoast

If you are going to be a multiple property owning buy to let landlord in a housing crisis, you perhaps need to be rather more resilient to opprobrium than certain people on this thread.

Regardless of the rights and wrongs of Buy To Let ; the fact is that a Tory government has decided that the UK has seen enough of it.

Good.