Right to buy on privately rented homes

The-Joker

lvader wrote: »

It's just a distraction tactic, the opposition is trying to bombard his office with stuff in order that he can't concentrate on Brexit.

This is what opponents have always done

But this time it seems so uncertain and anything could happen

If Jeramy Corbyn is the only way to get out of no deal the maybe that is what will happen

seven-day-weekend

I have ONE modest BTL property worth £100k on the Open Market if I am lucky. I bought it as an investment and for the rent to boost our pensions. If anything like this looks like happening, I will just sell it on the open market beforehand. Ii is legalised theft - they may as well just take money from my Bank Account.

(NB, it is not an old house in a horrible area as mentioned further up the thread. It is a modern (built in 2014 ) two- bedroom flat with ensuite and gated parking on a new estate in a reasonable area. Similar to this but with an ensuite : https://www.rightmove.co.uk/property-for-sale/property-75832535.html ).

chucknorris

seven-day-weekend wrote: »

I have ONE modest BTL property worth £100k on the Open Market if I am lucky. I bought it as an investment and for the rent to boost our pensions. If anything like this looks like happening, I will just sell it on the open market beforehand. Ii is legalised theft - they may as well just take money from my Bank Account.

It is extremely unlikely to happen the way that some are presenting it here, so I wouldn't worry. A Labour Gov is very unlikely, and even if we had one, and somehow this got through, it would be either on a voluntary basis, or if forced, as a no loss situation for the landlord. It doesn't concern me at all, it just won't happen (as some are presenting it here).

The-Joker

chucknorris wrote: »

It is extremely unlikely to happen the way that some are presenting it here, so I wouldn't worry. A Labour Gov is very unlikely, and even if we had one, and somehow this got through, it would be either on a voluntary basis, or if forced, as a no loss situation for the landlord. It doesn't concern me at all, it just won't happen (as some are presenting it here).

Sounds very dangerous to hang all your plans on something definitely not happening or something definitely happening just the way you want it to

Even if it really doesn’t go through the mere mention of it has spooked markets and foreign investors

After the mere talk of this people realise that you never really own your property you jut rent off the government and they tell you in the end what you have to do with it or how much tax and charges you have to pay

phillw

lvader wrote: »

It's just a distraction tactic, the opposition is trying to bombard his office with stuff in order that he can't concentrate on Brexit.

Boris is too busy giving public money to strippers to concentrate on brexit.

The-Joker wrote: »

After the mere talk of this people realise that you never really own your property you jut rent off the government and they tell you in the end what you have to do with it or how much tax and charges you have to pay

You can really own your property. The government can tax you while you own it or when it's transferred to someone else, they can even try to compulsory purchase your property. But you still own it.

chucknorris wrote: »

It is extremely unlikely to happen the way that some are presenting it here, so I wouldn't worry.

I agree, first refusal and a share in the capital gains tax for long terms renters if the seller chooses to sell is far more likely.

MobileSaver

The-Joker wrote: »

Sounds very dangerous to hang all your plans on something definitely not happening or something definitely happening just the way you want it to

This might be one of the first times I have ever agreed with you!

Just look at Crashy Time and Diocletion paying their landlord's mortgage for years because they convinced themselves house prices were definitely going to crash...

The-Joker wrote: »

Even if it really doesn’t go through the mere mention of it has spooked markets and foreign investors

Oh dear, how wrong could you be! Corbyn floated the policy in 2016, across the board prices have gone up 6% since then! Please, please, please could you get him to spook the market some more! :rotfl:

The-Joker wrote: »

people realise that you never really own your property you jut rent off the government and they tell you in the end what you have to do with it or how much tax and charges you have to pay

Utter nonsense. I can assure you I really own all my properties and no-one but me tells me what I have to do with it.

chucknorris

MobileSaver wrote: »

This might be one of the first times I have ever agreed with you!

Just look at Crashy Time and Diocletion paying their landlord's mortgage for years because they convinced themselves house prices were definitely going to crash...



Oh dear, how wrong could you be! Corbyn floated the policy in 2016, across the board prices have gone up 6% since then! Please, please, please could you get him to spook the market some more! :rotfl:



Utter nonsense. I can assure you I really own all my properties and no-one but me tells me what I have to do with it.

Thanks you saved me the bother of responding to his crazy post.

cpeccity

Nice Post.

diggingdude

Cpeccity......what a contribution

How will tenants get mortgages when banks are going bankrupt losing all this BTL money as many landlords would not be able to shoulder to price cut.

Those wondering why people buy not rent like in Germany....those Germans will still be renting in 50 years, hopefully I will be spending that money on s holiday mortgage free

Sailtheworld

DannyGold wrote: »

This is why the thought of being forced to sell to your tenants is causing such a stir

The option to avoid CGT is to avoid selling and leave any assets subject to CGT to your beneficiaries. If, what is currently a crashaholic fantasy, comes to pass then a BTL landlord can start a spreadsheet and consider whether it's cheaper to transfer the property to the tenant over time or sell and pay the CGT.

Paying CGT is a first World problem - as keeps being explained it's payable on capital gains. Not the most awful thing to be in possession of.

Not that it's ever going to happen. Least of all in the way you hope.