Ignore the landlord martyrs: time for the BOE to intervene

Graham_Devon

Well there's no sitting on the fence with this article!

However, this whole "reign in the BTL scene" appears to be gathering pace continually.

The poor persecuted buy-to-let landlords of Britain. Many are developing a martyr complex – victims, they feel, of a barrage of new taxes coming in from next year. They will have seen the latest intervention last week – potential new powers for the Bank of England to restrict buy-to-let mortgages – as yet another blow. In online forums landlords share their woes about the “latest tax grab” and ask “why are we so reviled?” – although the answer may lie in another discussion thread where landlords swap tips about “How to tell a great tenant the rent has to go up a third”.

All the Bank of England is doing is saving landlords from their own greed. It is almost beyond dispute that buy-to-let landlords have fuelled price rises generally, and priced out many potential first-time buyers. Now the Bank is concerned about risky lending and wants powers to restrict the size of buy-to-let mortgages, to prevent boom turning into bust. In other words, the Bank is intervening to protect the value of landlord’s assets from falling.

http://www.theguardian.com/money/2015/dec/20/buy-to-let-ignore-landlord-martyrs-time-for-bank-to-act

mayonnaise

Graham_Devon wrote: »

Well there's no sitting on the fence with this article!

Obviously written by some HPC nutter. Even the obligatory links to property 118 are there.

Graham_Devon

mayonnaise wrote: »

Obviously written by some HPC nutter. Even the obligatory links to property 118 are there.

I wish - you'd look like you were chewing a hornet for days if you realised their stuff was getting published in the 4th largest national paper.

wotsthat

That article is a bit on the frothy side given the argument is only about whether the borrowings of BTL have been sufficiently stress tested.

michaels

Do we need a new thread for every article on BTL? I'm not saying no point mentioning the articel but I think we already have several other threads wehere we are discussing BTL and regulation changes or is this about something different - a new policy announcement perhaps?

mayonnaise

michaels wrote: »

Do we need a new thread for every article on BTL? I'm not saying no point mentioning the articel but I think we already have several other threads wehere we are discussing BTL and regulation changes or is this about something different - a new policy announcement perhaps?

Good point.
We could have a sticky for landlord bashing?

Graham_Devon

mayonnaise wrote: »

Good point.
We could have a sticky for landlord bashing?

Will reach the 10,000 post limit pretty quickly though.

wotsthat

Graham_Devon wrote: »

Will reach the 10,000 post limit pretty quickly though.

Just roll it over to a new thread like the nice people.

A civilised approach to the 10,000 post limit.

TheeMaskedTurnip

Penned by some HPC nut job.

wymondham

I have an issue with people going on about BTL greed. How many BTLers are elderly people merely looking for a smart home for their money? Their pensions have been hit, interest has been hit and now this....
whats the next big thing they can move their money to and get penalised?

Generali

I've been reading the Property 118 thread about the proposed tax changes and they are not a bunch of happy campers. Not At All.

http://www.property118.com/budget-2015-landlords-reactions/76164/

It's quite funny really. They have worked out that they face a tax bill of well over 100% and that it will rise with interest rates. Interesting to note that they have a, IMHO, deeply unlikely view on interest rates, one that is completely at odds with the people that actually set interest rates.