HPC thread of the week

Crashy_Time

TheeMaskedTurnip wrote: »

The goons over on the other side will never accept that the problem is themselves and their screwed up group confirmation bias. Easier to blame others for your own misspent savings and lack of aspiration.

How was the Autumn statement for you cabbage, sorry, Turnip?

chucknorris

Crashy_Time wrote: »

Looks like it just got that bit harder to sell on BTL`s. Problems problems eh? Where would we be without them :rotfl:

Not really, how do you work that out? When I sell them, they are just properties (not classed as BTL properties), I don't have to sell them to other landlords, owner occupiers can buy them!

Crashy_Time

chucknorris wrote: »

Not really, how do you work that out? When I sell them, they are just properties (not classed as BTL properties), I don't have to sell them to other landlords, owner occupiers can buy them!

Can they though? Government seems to think this group, in London anyway, needs more special help, but it seems to apply to new-builds only? That could affect the demand for older style property if people actually do want large debts in exchange for a hutch somewhere on old industrial land? Personally I think the take up for the scheme will be less than projected (could well be wrong of course) and that the UK housing market is destined for it`s inevitable correction whatever stunts central government pull out of their behinds.

chucknorris

Crashy_Time wrote: »

Can they though? Government seems to think this group,

Afraid not Crashy, only you seem to think this. They are imposing the additional 3% stamp duty on people who either buy (not sell) to use as a BTL or second home, not on existing BTL properties. Overall I think that I may even marginally benefit from it, as rents may climb as less landlords enter the market, thanks for your (unnecessary) concern though, nice to know that you were thinking of me.

Hazzinho

They are a deluded bunch over there, great entertainment to be fair. Remind me of people I've met in the past, deflect their failings elsewhere do nothing about their situation and are so bitter.

I wonder how many years these imminent crash threads are going to go on, even if there is a price drop in future the houses will be more expensive than when the threads started :-) They will either never buy or get a reality check and vanish from that board.

Crashy_Time

chucknorris wrote: »

Afraid not Crashy, only you seem to think this. They are imposing the additional 3% stamp duty on people who either buy (not sell) to use as a BTL or second home, not on existing BTL properties. Overall I think that I may even marginally benefit from it, as rents may climb as less landlords enter the market, thanks for your (unnecessary) concern though, nice to know that you were thinking of me.

Government seems to think FTB`ers in London need more help. (that means the market is over-priced, including your houses)


HTB on new builds mean less interest in old builds (your houses)


Extra stamp duty makes it harder for someone to BUY a BTL (your houses)


:rotfl: Is that plain enough for you?

Crashy_Time

Hazzinho wrote: »

They are a deluded bunch over there, great entertainment to be fair. Remind me of people I've met in the past, deflect their failings elsewhere do nothing about their situation and are so bitter.

I wonder how many years these imminent crash threads are going to go on, even if there is a price drop in future the houses will be more expensive than when the threads started :-) They will either never buy or get a reality check and vanish from that board.

You sound like you have joined the Group Think over here in the bunker quite well. Well done. Were you expecting the chancellor to go after BTL quite as hard as he seems to be doing?

chucknorris

Crashy_Time wrote: »

Government seems to think FTB`ers in London need more help. (that means the market is over-priced, including your houses)


HTB on new builds mean less interest in old builds (your houses)


Extra stamp duty makes it harder for someone to BUY a BTL (your houses)


:rotfl: Is that plain enough for you?

You have failed completely to understand what the change is (although I must admit that doesn't surprise me)! Future investors (in BTL or second homes), not other buyers have to pay 3% more stamp duty, that doesn't affect existing BTL investors selling properties, it isn't rocket science.

gadgetmind

Crashy_Time wrote: »

Were you expecting the chancellor to go after BTL quite as hard as he seems to be doing?

I certainly was. No single killing blow, but lots and lots of small moves designed to cause fear, doubt and uncertainty. Regulatory changes, tax changes, now stamp duty, rinse and repeat.

Crashy_Time

chucknorris wrote: »

You have failed completely to understand what the change is (although I must admit that doesn't surprise me)! Future investors (in BTL or second homes), not other buyers have to pay 3% more stamp duty, that doesn't affect existing BTL investors selling properties, it isn't rocket science.

It does if the buyer is buying your property as a second home or BTL, and it does if the market is flooded with BTL properties that no one wants to buy.