Right to buy on privately rented homes

Thrugelmir

Green_Bear wrote: »

Bank pursues landlord for £10k.

Who pays this cost?

westernpromise

Thrugelmir wrote: »

Who pays this cost?

Either Jews or the landlord. Remember, Labour hates private property - private anything actually; schooling, health, transport, employment, healthcare.

In Labour's ideal world, everybody would obtain everything from the state and everything the state provided would be equally bad. Some schools are good and some are bad; this is unfair, so close all the good schools.

Green_Bear

Thrugelmir wrote: »

Who pays this cost?

Depends whether the bank can recover assets from the landlord or not.

That's the case with a repossessed house that sells for less than the mortgage debt* - so that's what I based my post on. Obviously, it depends on how the law is written.

*in the UK.
(in the USA, the bank takes the hit, I believe)

Green_Bear

westernpromise wrote: »

Either Jews or the landlord. Remember, Labour hates private property - private anything actually; schooling, health, transport, employment, healthcare.

In Labour's ideal world, everybody would obtain everything from the state and everything the state provided would be equally bad. Some schools are good and some are bad; this is unfair, so close all the good schools.

The counter argument would be that 'services for the poor, become poor services'.

ie If you let the influential wealthy and middle classes buy their own education and healthcare, then the political importance of maintaining a good service reduces.
If you trap the middle classes into needing public services, they will create the political fuss to keep the services well run.

However, anyone who has traveled on a commuter train into London may question this theory...!

Green_Bear

Thrugelmir wrote: »

Tax rules on interest tax relief are yet to fully hit home.

That's because the dumb money still seems to be going into (personally held) residential BTL.

Due to my previous employment, I have quite a large proportion of my investments in oil and mining companies. It's a high risk sector. But most investors I speak to generally understand the political risks and market cycles etc. We tend to diversify well and monitor what's going on.

People I know involved in BTL have a completely different attitude to risk assessment etc.

It's interesting. Probably a cultural thing.

Green_Bear

westernpromise wrote: »

Either Jews or the landlord. Remember, Labour hates private property - private anything actually; schooling, health, transport, employment, healthcare.

In Labour's ideal world, everybody would obtain everything from the state and everything the state provided would be equally bad. Some schools are good and some are bad; this is unfair, so close all the good schools.

This attitude dates back to the days when only Jews were allowed to charge interest on loans.
Both the Catholic Church and Islam forbade it at that time (Islam still does).
That's why Jews became the bankers. No one else was allowed to,

There are still elements of this is the Christian Fundamentalists in the USA. They occasionally start talking about only gold being ''God's money'' etc. What they mean is that it's a natural element that doesn't involve interest payment. Because by putting money in a bank account, you charge the bank interest, so the bank is your slave... etc..!

DannyGold

Thrugelmir wrote: »

Tax rules on interest tax relief are yet to fully hit home.

Yes the worst is still to come

Green_Bear

DannyGold wrote: »

Yes the worst is still to come

With regards to BTL landlords, yes I agree.
Even if there is no further anti landlord changes by the govt, I still think there are a large number of people out there who haven't figured out that the political tide has turned against BTL and are still getting involved.

Now, what effect the reduction in BTL landlord numbers will have on the general housing market, I'm not sure. Not a lot I'd wager. The houses will still be bought by someone.

The only thing likely to crash the UK house prices (in fiat terms) would be a large interest rate rise. And I don't think that will happen. I think the govt / BoE want to weaken the pound as much as possible.

The next crash will probably be a currency crash and undefended that could be 'eventful'.

The-Joker

Green_Bear wrote: »

With regards to BTL landlords, yes I agree.
Even if there is no further anti landlord changes by the govt, I still think there are a large number of people out there who haven't figured out that the political tide has turned against BTL and are still getting involved.

Now, what effect the reduction in BTL landlord numbers will have on the general housing market, I'm not sure. Not a lot I'd wager. The houses will still be bought by someone.

The only thing likely to crash the UK house prices (in fiat terms) would be a large interest rate rise. And I don't think that will happen. I think the govt / BoE want to weaken the pound as much as possible.

The next crash will probably be a currency crash and undefended that could be 'eventful'.

The smart BTLers are trying to sell now before the dust settles from brexit uncertainty and chaos

The threat of right to buy private tenants was enough to spook foreign property investment in the uk

The ball is rolling down hill for property prices in the uk


Sell now

Green_Bear

The-Joker wrote: »

The smart BTLers are trying to sell now before the dust settles from brexit uncertainty and chaos

The threat of right to buy private tenants was enough to spook foreign property investment in the uk

The ball is rolling down hill for property prices in the uk


Sell now

I agree in general terms, but I suspect REITs and property funds will be left alone.