The economy and the autumn statement

Mistermeaner

who keeps messing with our forum?

chucknorris

Mistermeaner wrote: »

who keeps messing with our forum?

It was Graham (he seems to get the blame for everything else, so why not also this).

dinkylink

Presumably this will mean a rush on BTL transactions until next April in order to squeeze purchases through before the changes?

BarryBlue

I have a BTL portfolio and am currently buying another, due to complete within the next few weeks. However, I intend to buy a couple more, and a 3% hike in stamp duty will mean that money will have to be found from rents. My initial reaction is that in my case that will be spread across all of them.

I don't think the rental market will fall any time soon because we have heard all this nonsense before about mass house building. There was also yet another shared ownership scheme announced, presumably along the lines of all the previous ones. They are fine at the start but become an administrative nightmare. The residual part of the old schemes is a complete shambles, as a member of my family has discovered when trying to deal with them.

HENRY78

Barry Blue,


Are you happy with the way you earn your money? Just curious.


Its a start but my thoughts are that its too little. I personally would tax Landlords to the hilt!

CLAPTON

HENRY78 wrote: »

Barry Blue,


Are you happy with the way you earn your money? Just curious.


Its a start but my thoughts are that its too little. I personally would tax Landlords to the hilt!

600,000 people move to the UK each year
about 800,000 leave home to set up on their own each year
where do you think these people should live
council housing? or buy their own home ?

lisyloo

and a 3% hike in stamp duty will mean that money will have to be found from rents

So you are saying you'll have no trouble raising rents?
If so why aren't you doing that right now?

chucknorris

lisyloo wrote: »

So you are saying you'll have no trouble raising rents?
If so why aren't you doing that right now?

We put up all our rents when the last tax changes were announced. We prefer to rent under the market rent, but we decreased the margin that we rent under the market rent. We might even still be able to maintain that same margin, if other landlords also increase their rents.

HENRY78

Something different to what Private landlords are offering. Plenty of alternatives.


The problem I have with Landlords with property portfolios is that these individuals have done absolutely nothing to obtain their wealth other than pure luck.


Its absolutely sickening and wrong how the rental market has increased in the SE. It has got out of control.


The way these "entrepreneurs" (Yes I jest) deal with local estate agents and out bid a genuine first time buyer who want a said property for an actual home is unethical and disgusting IMO.


Most landlords do not pay the right level of tax, and add zero IMO to very little value to the country. They create no wealth and no employment but for themselves.


They are morally below estate agents for me and that is saying something! Hope it all comes crashing down and then these people will need to get a proper job instead of making a living and taking advantage of a basic human need!

CLAPTON

HENRY78 wrote: »

Something different to what Private landlords are offering. Plenty of alternatives.


The problem I have with Landlords with property portfolios is that these individuals have done absolutely nothing to obtain their wealth other than pure luck.


Its absolutely sickening and wrong how the rental market has increased in the SE. It has got out of control.


The way these "entrepreneurs" (Yes I jest) deal with local estate agents and out bid a genuine first time buyer who want a said property for an actual home is unethical and disgusting IMO.


Most landlords do not pay the right level of tax, and add zero IMO to very little value to the country. They create no wealth and no employment but for themselves.


They are morally below estate agents for me and that is saying something! Hope it all comes crashing down and then these people will need to get a proper job instead of making a living and taking advantage of a basic human need!

So how would you house the 600,000 immigrants that arrive each year or the 800,000 that leave home each year for an independent life?
council houses
buy their own
a mass movement from people like you to offer them space in their own homes ?