Right to buy tenant plan to cost LLs £50 Billion

chucknorris

The-Joker wrote: »

You must have paid huge cap gains?

Imagine being forced to sell to your tenants at greatly reduced amounts?

Not long ago it looked very unlikely Jeremy Corbin could ever get in so right to buy was remote chance

Now everything is so uncertain anything is possible

Yeah the CGT was significant, but I wish that it was 100 times as much. The more CGT you pay, the more profit you have made!

Bit late to try and scare me with nonsense, by the end of this tax year I will probably not have much investment property left. The CGT was mitigated by letting relief (another reason for selling before the end of this tax year).

DannyGold

chucknorris wrote: »

Yeah by the end of this tax year I will probably not have much investment property left. The CGT was mitigated by letting relief (another reason for selling before the end of this tax year).

Why is everybody involved in BTL wanting to sell up and get out all of sudden?

MobileSaver

DannyGold wrote: »

Why is everybody involved in BTL wanting to sell up and get out all of sudden?

Everybody?!?! Do you have any bona fide sources for that or did you just make it up in a desperate attempt to talk the market down?

chucknorris

DannyGold wrote: »

Why is everybody involved in BTL wanting to sell up and get out all of sudden?

I decided 28 years ago that I would probably sell when I was about 60, I sold one when I was 59, and another this year aged 61, and I have just put another on the market today. I don't think after 27 years of investment it could be described as 'all of a sudden' (not using an adult's lifespan any way).

If you went through my posting history you will see some posts a few years ago where I was saying that equities look better to me now (mostly from a lifestyle prospective).

But there is an incentive to sell this tax year, because letting relief is being abolished, and also the 18 months additional months of private residence relief is being reduced to 9 months, both at the end of this tax year.

DannyGold

MobileSaver wrote: »

Everybody?!?! Do you have any bona fide sources for that or did you just make it up in a desperate attempt to talk the market down?

Are you being facetious on purpose or are you really like that anyway?

It’s obvious that a figure of speech can be used to say everybody has mobile phones these days or everybody seems to be talking about brexit. Of course not every single person but just refers to a lot of people.

I can’t believe I even have to explain this.....

Anyway, everybody previously enthusiastic about BTL now seems to be wanting to get out, oh how the tide has turned

chucknorris

DannyGold wrote: »

Anyway, everybody previously enthusiastic about BTL now seems to be wanting to get out, oh how the tide has turned

Investment asset classes are not like football teams, rather than being a life long fan, you merely invest for profit. You seem to take it quite personally, for me it is just about profit. But things can change that affect profit margins, with property for example:

40% tax relief on mortgage interest can't be (fully) claimed
The 10% wear and tear allowance has been abolished
There is now 3% additional stamp duty
Regional prices might peak (reducing scope for capital growth)
Letting relief is about to be abolished
The additional 18 months of private residence relief is to be halved

Also of course lifestyle objectives might change when you reach a certain age (for me this was the major one).

Malthusian

MobileSaver wrote: »

Everybody?!?! Do you have any bona fide sources for that or did you just make it up in a desperate attempt to talk the market down?

For context, in another forum, Redgag is asking if he can make a compo claim because he huffs dangerous chemicals at work without using the provided safety equipment properly. It explains a lot.

(I wasn't cyberstalking, I read the Employment forum on occasion.)

Davy_Jones_II

I’ll not look to take on new tenants when the current ones leave, it’s jut not worth the effort any more given the lie return after tax.

The big family home up North will be fitted out for me and my family to use when we go up there to visit and the city flat in London will be tidied up and put on the market.

I was concerned at Labour’s plans to force me to sell at below market, but I suspect they’ll not offer it to tenants like mine, it’ll all be directed at their favorite demographic.

The-Joker

Davy_Jones_II wrote: »

I’ll not look to take on new tenants when the current ones leave, it’s jut not worth the effort any more given the lie return after tax.

The big family home up North will be fitted out for me and my family to use when we go up there to visit and the city flat in London will be tidied up and put on the market.

I was concerned at Labour’s plans to force me to sell at below market, but I suspect they’ll not offer it to tenants like mine, it’ll all be directed at their favorite demographic.

So many like previously enthusiastic about btl are now of the opposite mindset.

What happens to prices when the tide turns like this and an increasing number all want out at the same time?

RealElement47

MobileSaver wrote: »

I think you have seriously misunderstood; the tenant might get a good discount but Corbyn's proposal was that the landlord wouldn't lose out as you the tax-payer would cover that discount, not the landlord. :beer:

And you trust the government to be fiair?

Even if the amount of dicount Es covered, would it be all of it?

Who gets to work out what the property would hve old for it yout the dicount?

Tenants would not buy full price property without the dicount so this will hve. Lowering effect