Current property owner and first time buyer - help to buy conflict

Goldcrypto wrote: »

Regarding my views, they are irrelevant as the current legislation is in place - these do change so will see what happens in the future. Also, my view on this issue about property investment and implications for SDLT and help to buy are not solely focused on him but should apply to every UK citizen. I personally feel they should have the opportunity (if they are in the position to do so) to be able to get assistance on first residence property and not have additional SDLT on second property purchase (as an investment). Not everyone wants to invest the majority in the stock market with main investments etc. Maybe you think it would be fair if he (or similar people) had a few million and had 10+ properties then he could set up a company for the properties and not have to pay additional SDLT and have access to superior lending options? The government seems to be squeezing the small investor and giving advantage to the big players. Personally, I do not think it is fair for the average hard working British Joe just trying to progress.

Regardless of peoples current political views on UK real estate policies, I'm here looking for actual technical answers to address the question only. So lets not digress.

Rubbish, it's clear you have no clue about the legislation. Your borther is free to setup a company even with 1/2 a property, doesn't need 10. But I suggest you double check the SDLT and mortgage rates for companies, before commenting. He is not paying additional SDLT, he is not eligible for relief to reduce the tax due.

You are complaining that the Gov is squeezing the "small investor", giving advantage to the "big investors" which is simply untrue, while simultaneously whining why the Gov made the rules to favour genuinely first time buyers lookign for a home, over investors like your brother ho already has one. What a hypocrisy.

"Technical" answers:

Re HTB Equity loan:
HTB equity loan is designed for people who can't save for a deposit, because the prices keep rising faster than their wage, and need HELP TO BUY.
Your brother is not one of these people since he already have equity in another property.
Even under these circumstances he can use equity loan if he disposes of the existing property.
Which part of this is unfair?

Re SDLT relief:
Again it was designed to help the poor bu**ers that can barely scrounge for a deposit and yet alone tax. One of the reasons it's not available for properties over £500k
Your brother is not one of these individuals, he already has a property, the fact that he chose to let it out instead of living in it is irrelevant.

Re his GF:
All of the above are available to her should she decides to buy alone. Since she wants to buy a property jointly with a well off individual, the above are not available to her.

Goldcrypto wrote: »

What makes you think he still owns that?



Oh, I forgot your just cherry picking points you want to read. Silly of me. Thanks for your help.:beer:

Sorry I am not reading anymore of your posts, following your lead, as it is just green eyed envy nonsense. Clearly not a real estate investor and happy for overseas investors to dominate the landscape instead of been concerned about UK investors. Ciao.

That's short enough to read. I've cherry picked what is relevant, which is virtually nothing.

It doesn't matter if he still owns it. It's simple maths. He has already owned two properties so he's not a first time buyer.

You're good at making things up to suit you. There's 13 years and enough evidence of my experience of property developing written on these boards to fill several books. The evidence also shows what I've gained and learned in that time. There's also clear evidence of integrity.

People with less money love to whine about how people with more money have it good. It doesn't matter if you have 79p or £79 million. Someone else has always got it easier.