Rents Frozen In Scotland From Today

Sarah1Mitty2

Retireby40 said:

Sarah1Mitty2 said:

Retireby40 said:

Sarah1Mitty2 said:

Retireby40 said:

If there were no landlords more people would be living at home with their parents until they were about 40.

If there were no rental properties those new couples wouldn't realise if they could live together or not before buying their own pad.

If there were no rental properties students would have to study in their home town or city and forego the opportunities at other Universities. It may mean doing a course they don't want to do.

If there were nor rental properties people looking for new experiences or to learn a new language or whatever would never be able to.

Without landlords and rental properties the world would be a much worse place. What would the other option be for the above people?

Please someone tell me what the above people would do?

Well that sums up nicely why there will always be landlords! Not sure when you last went to Uni but there are Uni rentals (run by the Uni) being thrown up everywhere, students won`t be staying at home any time soon.

Yeah but not everyone wants to live in halls of residence. Nor can everyone afford it as some of the university accomodation is extortionate. And after all isn't it the same?

Instead of say me as a landlord making money from students needing to live beside the University, large organisations are making millions from student rentals. 

It's attitudes like this that are laughable. Oh it's OK that the Uni makes millions from student rentals or some huge property developer but hey let's crucify the average Joe for earning a few hundred quid a month on his money instead of leaving it in a bank account losing money.

I didn`t say anything was OK, just that if there is this massive demand that you talk about then there will always be landlords, whether it is average Joe or Mr Corporate I don`t know. If we are being honest many average Joe`s are not fit to be landlords so a few of them being culled is no bad thing, they should also cut the student population and get young people back to trades and practical skills, but that is another discussion. I was pushing back against some of the comments on here about mass sell offs because landlords are annoyed at the government for doing this etc. it just isn`t going to happen in my opinion.

100% agree with getting young people into trades and other forms of employment. Too many people are going to university to simply avoid the real working world.

I see people studying until 24-25 and starting their first job in their late 20s, not because there aren't any jobs. But because their perfect job isn't available at that time and instead of getting something else they wait and do umpteen courses that have 0 value.

The world neede landlords whether people like them or not. My issue is that people target landlords because they are an easy target.

Stop people having 2 houses. Stop my neighbour making an extra £500 a month from his rental property etc etc. Jealousy more than anything. Yet people are OK with other businesses buying cheaper and selling more expensive and making millions 

I think the problem will solve itself as the era of cheap borrowing comes to an end. The Scottish Government action is more about protecting people in what could be a genuinely difficult time, I don`t think they are against 2nd property/BTL per se.

AJRBADGER

I am a project manager in the energy sector. Wading in on the IR35 debate (off topic).

I've never been a contractor, but I have to use them to man short to mid term projects. IR35 has caused a big headache with recruiting for the projects I am running. We have been losing contract engineers to the Middle East and North America particularly, coupled with a reluctance from people to accept insecure 3-6mth jobs on greatly reduced terms - people are just staying put. Nobody is wanting to work 84hr weeks on a 4mth project in the Shetlands for £1100 per week take home, and no guarantee what happens after - when they can now be taking £700 a week, working near home with all the perks and security of a PAYE role.

It is a smaller issue with the technician grades, but the engineer grades - recruitment is now a big issue.

I guess the problem it has highlighted - the UK was bringing contractors in on IR35 contracts to be paying on a par with the likes of the USA, Canada, Germany, France, Norway, etc and keeping overheads low. That option has ended now, but the management and finance circles that set my budgets still want the overheads and hire/fire convenience of Ltd Company contractors. Despite recruitment difficulties and a shortage, there is a reluctance to increase the budgets accordingly, which is making it difficult to recruit for projects. Perhaps that will change now things are moving properly again post Covid, but the crux of the issue - we have stopped paying the going rate.

As for my flat,

The estate agent has now warned me that it is unlikely the tenant will move. So that has put a bottle cap in the sales process and in turn will delay my self build project by 6-9mths. So it's looking like at least 6mths more than intended living in a static caravan.

Sarah1Mitty2

SuseOrm said:

theartfullodger said:

Eldi_Dos said:

theartfullodger said:

V true about interest rates.  In November 1979 Bank of England base rates hit 17%. (Seventeen percent).  Good old Thatcher's time.  (Is there an irony emoji?)

I had a for then large mortgage.  Lucky because my building society only wanted 15%.

I'm expecting interest rates to keep increasing, especially with the cost-of-leaving crisis.

Good luck folks......

What you do not mention was that as pay rises tried to keep up with inflation the percentage of mortgage to earnings swung in your favour, if you could ride out the initial storm.

Let me assure you that such wage increases I got then in absolutely no way covered the actual interest rate extra payments my mortgage cost (from 10% to 15% so another 5%)

Wage rises were not keeping pace (this was Thatcher's charming regime...)

You did also get MIRA’s,  So with the greatest of respect pull the other one

Didn`t that get cancelled though?

SuseOrm

Sarah1Mitty2 said:

SuseOrm said:

theartfullodger said:

Eldi_Dos said:

theartfullodger said:

V true about interest rates.  In November 1979 Bank of England base rates hit 17%. (Seventeen percent).  Good old Thatcher's time.  (Is there an irony emoji?)

I had a for then large mortgage.  Lucky because my building society only wanted 15%.

I'm expecting interest rates to keep increasing, especially with the cost-of-leaving crisis.

Good luck folks......

What you do not mention was that as pay rises tried to keep up with inflation the percentage of mortgage to earnings swung in your favour, if you could ride out the initial storm.

Let me assure you that such wage increases I got then in absolutely no way covered the actual interest rate extra payments my mortgage cost (from 10% to 15% so another 5%)

Wage rises were not keeping pace (this was Thatcher's charming regime...)

You did also get MIRA’s,  So with the greatest of respect pull the other one

Didn`t that get cancelled though?

In April 2000

Sarah1Mitty2

SuseOrm said:

Sarah1Mitty2 said:

SuseOrm said:

theartfullodger said:

Eldi_Dos said:

theartfullodger said:

V true about interest rates.  In November 1979 Bank of England base rates hit 17%. (Seventeen percent).  Good old Thatcher's time.  (Is there an irony emoji?)

I had a for then large mortgage.  Lucky because my building society only wanted 15%.

I'm expecting interest rates to keep increasing, especially with the cost-of-leaving crisis.

Good luck folks......

What you do not mention was that as pay rises tried to keep up with inflation the percentage of mortgage to earnings swung in your favour, if you could ride out the initial storm.

Let me assure you that such wage increases I got then in absolutely no way covered the actual interest rate extra payments my mortgage cost (from 10% to 15% so another 5%)

Wage rises were not keeping pace (this was Thatcher's charming regime...)

You did also get MIRA’s,  So with the greatest of respect pull the other one

Didn`t that get cancelled though?

In April 2000

There was a couples allowance cancelled much earlier though?

Alderbank

Sarah1Mitty2 said:

SuseOrm said:

Sarah1Mitty2 said:

SuseOrm said:

theartfullodger said:

Eldi_Dos said:

theartfullodger said:

V true about interest rates.  In November 1979 Bank of England base rates hit 17%. (Seventeen percent).  Good old Thatcher's time.  (Is there an irony emoji?)

I had a for then large mortgage.  Lucky because my building society only wanted 15%.

I'm expecting interest rates to keep increasing, especially with the cost-of-leaving crisis.

Good luck folks......

What you do not mention was that as pay rises tried to keep up with inflation the percentage of mortgage to earnings swung in your favour, if you could ride out the initial storm.

Let me assure you that such wage increases I got then in absolutely no way covered the actual interest rate extra payments my mortgage cost (from 10% to 15% so another 5%)

Wage rises were not keeping pace (this was Thatcher's charming regime...)

You did also get MIRA’s,  So with the greatest of respect pull the other one

Didn`t that get cancelled though?

In April 2000

There was a couples allowance cancelled much earlier though?

Until recent times it would have been against public policy to encourage couples to get up to anything, certainly not to co-habit under the same roof.

Are you thinking of Married couples allowance?
That still exists, but it has nothing to do with mortgages and at least one of the couple must be aged over 87

Sarah1Mitty2

Alderbank said:

Sarah1Mitty2 said:

SuseOrm said:

Sarah1Mitty2 said:

SuseOrm said:

theartfullodger said:

Eldi_Dos said:

theartfullodger said:

V true about interest rates.  In November 1979 Bank of England base rates hit 17%. (Seventeen percent).  Good old Thatcher's time.  (Is there an irony emoji?)

I had a for then large mortgage.  Lucky because my building society only wanted 15%.

I'm expecting interest rates to keep increasing, especially with the cost-of-leaving crisis.

Good luck folks......

What you do not mention was that as pay rises tried to keep up with inflation the percentage of mortgage to earnings swung in your favour, if you could ride out the initial storm.

Let me assure you that such wage increases I got then in absolutely no way covered the actual interest rate extra payments my mortgage cost (from 10% to 15% so another 5%)

Wage rises were not keeping pace (this was Thatcher's charming regime...)

You did also get MIRA’s,  So with the greatest of respect pull the other one

Didn`t that get cancelled though?

In April 2000

There was a couples allowance cancelled much earlier though?

Until recent times it would have been against public policy to encourage couples to get up to anything, certainly not to co-habit under the same roof.

Are you thinking of Married couples allowance?
That still exists, but it has nothing to do with mortgages and at least one of the couple must be aged over 87

Recent times being the last 40 years? Internet says unmarried couples being encouraged to combine their tax allowance ended in 1988, there was a rush to beat the deadline, similar to recent history, then everything stalled.

MaiTai

Are you referring to the former Married Man’s Allowance abolished April 6th 2000?

What,if anything,does this have to do with the current Scottish rent freeze?

I would be far more interested to hear about your personal experiences as a landlord as you seem to attempt to speak with authority on the subject.

When did you first become a landlord and how large is your property portfolio?


Sarah1Mitty2 said

There was a couples allowance cancelled much earlier though?

Sarah1Mitty2

MaiTai said:

Are you referring to the former Married Man’s Allowance abolished April 6th 2000?

What,if anything,does this have to do with the current Scottish rent freeze?

I would be far more interested to hear about your personal experiences as a landlord as you seem to attempt to speak with authority on the subject.

When did you first become a landlord and how large is your property portfolio?


Sarah1Mitty2 said

There was a couples allowance cancelled much earlier though?

No, a quick search throws up the one I meant, abolished in 1988.

Sarah1Mitty2

Landlords threatening to sue the government now supposedly. There are some weird articles doing the rounds featuring rental agents claiming "thousands" of people are bidding for one or two properties as "landlords exit the market", unless you sold to your mate for cash I don`t think there has been enough time yet for anyone to exit?  I think these articles are Fake News to be honest.