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Will there be a surge of BTL's unloading their property in April?
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Gorgeous_George wrote: »If BTLers Bought To Let (there's a clue in the name) then selling will not feature in their business plan.
Of course, property investment speculators (PIS's) who rented their properties out while the market rose may indeed sell. I think anyone who already qualifies for substantial taper relief will lose out due to lower prices. Recent property speculators will have little, if any, gain to tax.
If PIS'sers want to sell next April, I'd suggest marketing it now. The market may be a little sloooooooow.
Any PIS's takers out there?
GG
Oh I agree about that. Most johnny come lately so called "BTL"ers are "PIS" ers as you say and won't have made any money on either from letting or capital gains on their properties. Either way BTL is a catch all term and I guess quite a few will think April is an ideal time to unload.0 -
We won't be selling anytime soon, we have always been in it for the long haul.
We see it as a boost income to our pensions in 20+ years time.
I would think several other LL's are in for the same time frame as well.0 -
pickles110564 wrote: »We won't be selling anytime soon, we have always been in it for the long haul.
We see it as a boost income to our pensions in 20+ years time.
I would think several other LL's are in for the same time frame as well.
I'm sure quite a few LL's are in it for the long term. Will they still want to stay in when their mortgage switches to SVR, they can't remortgage due to LTV and they're facing a void period?
Many landlords will try and stick it out, I'm not sure that all will be able to.0 -
What the recent BTL buyers do in relation to the CGT change in april is largely irrelevant as by april price drops will have wiped out most if not all of their gains anyway.
The question is, how many BTLers will be able to find a buyer in time to beat the April deadline, and what will that do to prices. Anyone wanting to sell by April is now a "forced seller".Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
What the recent BTL buyers do in relation to the CGT change in april is largely irrelevant as by april price drops will have wiped out most if not all of their gains anyway.
The question is, how many BTLers will be able to find a buyer in time to beat the April deadline, and what will that do to prices. Anyone wanting to sell by April is now a "forced seller".Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
What the recent BTL buyers do in relation to the CGT change in april is largely irrelevant as by april price drops will have wiped out most if not all of their gains anyway.
Depends how long ago they bought and in what part of the country.
The problem is that, similar to the dot.com boom, people won't sell at a loss; they won't accept that there isn't a gain and will hold on far longer than is sensible.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
What the recent BTL buyers do in relation to the CGT change in april is largely irrelevant as by april price drops will have wiped out most if not all of their gains anyway.
The question is, how many BTLers will be able to find a buyer in time to beat the April deadline, and what will that do to prices. Anyone wanting to sell by April is now a "forced seller".
Interesting point, SquatNow. When they announced it, April seemed like ages away, but one forgets it's less than 6 months away now, and 6 months is not such a long timescale for those trying to shift property in a slowing market.....0 -
The problem is that, similar to the dot.com boom, people won't sell at a loss; they won't accept that there isn't a gain and will hold on far longer than is sensible.
Interestingly I was reading Boris Johnson's "Have I got views for you" last night. There's an article in there about him house-hunting in London, which I presume is from 92-93 ish. He talks about prices turning. Sellers being reluctant to accept this and nothing being for sale at sensible prices. He also makes the statement "a whole generation being priced out".
Replacing the numbers (£395k being a crazy price for a house in Notting Hill), I think he could publish exactly the same article in the coming year.
What goes around, comes around, I suppose.
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Prices will fluctuate that is for sure. The causes may vary.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
Low earners do not pay 40% CGT now anyway, so there will be some who will lose out on the new CGT rules.Behind every great man is a good womanBeside this ordinary man is a great woman£2 savings jar - now at £3.42:rotfl:0
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