Hard days for landlords or to be landlords.

Crashy_Time

Guest101 wrote: »

You need to explain what you mean better

Sounds to me like they mean that landlords being forced to sell up is a good thing?

theartfullodger

Hard time for landlords??

What, when rents keep going up & up yet interest rates are at an historic, never before reached, low making their mortgage payments minuscule??

Nah....

teddysmum

It's BTL landlords who are punishing first time buyers, by grabbing the properties , so making prices rise due to supply and demand.


If migrants don't want to pay high rents , they are not obliged to come here, so their leaving would free properties for those first time buyers you 'support' but would prefer as clients.

kilby_007

Yulia wrote: »

Hi all.
Greedy landlords have helped make it really hard for FTB to buy [STRIKE]BTL[/STRIKE] property.

I've ammended that for you.

Is making things hard for landlords a failure of govt?

No it's a success, or a start at least.

teddysmum

Oh, dear.I think the OP was expecting sympathy.

anotheruser

I am all for Landlords having a bit of extra income.
However, do I think it should be a sole source of income? No.

I do wish there was legislation in place so no sole person, nor a company they own, nor whatever else people will find to get round the rules, can own more than two or three properties.

When I see some streets of houses owned by the same person, I think it's just pure greed. Hopefully, there will be a bubble at some point, so when said person comes to sell all those houses, they won't be worth what they are now, because the housing market will be flooded with lots of other landlords trying to sell too.

Then, first time buyers like me (who have just bought their house), feel the pressure because our house isn't going to increase in value. How awful many landlords who own tens and hundreds of houses are!

DoctorDooLittle

The government saw an opportunity to:
1. Make some tax money from landlords.
2. Gain votes from FTBs at the same time.

The goverment doesn't want to kill the cow, they just want to milk it as much as possible.
That's the same attitude they have to most businesses and individuals.

The increased SDLT, reduced income tax allowances, increased paperwork, regional (devolved governments) variations increasing, leaving EU - all go against small time landlords.
I'm predicting small time, private landlords will reduce and large scale professional landlords / housing associations may increase. The only difficulty for housing associations in their present form being the new RTB extension.
This is without any possible new legislations in favour of tenants. (eg longer tenancies, rent capping etc.)
So yes, I'd agree with the OP - not the best time to be entering the BTL investment scene. (Note I don't call it a business, as most BTL investors are not incorporated at present).

agrinnall

DoctorDooLittle wrote: »

(Note I don't call it a business, as most BTL investors are not incorporated at present).

What on Earth does incorporation have to do with being a business? There are many thousands of businesses in the UK that are not incorporated, and their owners would be insulted by your assessment.

DoctorDooLittle

agrinnall wrote: »

What on Earth does incorporation have to do with being a business? There are many thousands of businesses in the UK that are not incorporated, and their owners would be insulted by your assessment.

Why would someone be insulted that I referred to their properties as an investment, rather than a business?

I know not all businesses are limited companies.
But if you're not a limited company, then you've got no limitation for liability, so the only protection against someone persuing you would be your public liability insurance - correct?
You'd need to look at 'badges of trade' etc.
What view does HMRC take?