Summer Budget 2015 – Landlords Reactions

Mark,

I must say I have some envy for your writing skills, you are a brilliant writer. How did you accumulate such strong written skills, is that, due to your involvement in property sector or you are highly academic?

Reply to the comment left by “Gentle Landlord” at “27/07/2015 – 11:54“:

I can only assume you are referring to a different Mark LOL

I left school at 16 with a handful of very average CSE’s to take up a YTS in a butchers shop and to pursue a career in break-dancing. I also did a paper round, picked fruit and veg in the summer, plucked Turkeys and Pheasants at Xmas (yes I’m a pheasant plucker), cleaned cars and worked in a factory on shifts. I like money!

I became an insurance salesman at the age of 19 and moved into mortgages at the age of 21. I am far from academic but I have had my fair share of luck and successes in business. I take a keen interest in human behaviour and apply that wherever possible. I have learned to break down complex arguments such as law, tax, politics and psychology so that I can communicate more effectively. My business interests are all highly reliant of communication, particularly in terms of marketing. I have no formal qualifications but I do have a few very nice accolades, e.g. having taken one of my start up businesses to rank #38 in The Sunday Times Profit Track 100.

If your compliments regarding writing skills were aimed at me then I am flattered, thank you 😀
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Reply to the comment left by “CaZ ” at “27/07/2015 – 12:01“:

Hi CaZ

I have indeed been posting a lot on Facebook, it’s akin to fishing in a well stocked pond.

I find large groups discussing this issue, answer their questions and post links back to this and associated discussion threads. We’ve had a large surge of new members as a result 😀
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Mark,

That’s right, my compliments were aimed at you. I think it is pretty factual when your hands are in too many pies you are ought to be polished.

I do admire your Biography, clearly you have done well for yourself.

Reply to the comment left by “Gentle Landlord” at “27/07/2015 – 12:19“:

Much appreciated – now for a shameless plug….

I’m looking to raise £150,000 to fund a TV Advertising Campaign for Property118. As of now one third of the target has been reached, our campaign has just 55 days left to run.

There are huge tax incentives associated with investment and I’d like to think the projected returns and dividends and attractive too – business plan and projections available on request. For more details please see https://www.seedrs.com/property118-portal-ltd?promo_code=KGQF4HD2
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Okay. Everyone happy with this?

Scrap the mortgage interest tax levy before it forces tenants out and rents up!

The decision in the Budget to restrict landlords’ right to offset finance costs of their businesses will lead to bankruptcies, repossessions, house prices falling, negative equity, higher rents, empty houses and homelessness. It will adversely affect landlords, tenants, home owners and businesses.

The justification for the misleadingly-presented and outrageously unfair ‘tax relief’ change for landlords effectively re-defines finance costs of business as taxable ‘income.’ It creates a dangerous precedent in business and was based on an idea (since proven false) that landlords enjoy a tax advantage over owner-occupiers. In fact, landlords are taxed more heavily (rental income; CGT) (sources: IFS, Policy Exchange, chief economists). As its central premise is wrong, we urge its abandonment.

(NB. I’ve used up every last little character allowed!)
If there is a general consensus, I will submit the petition for approval around 3pm.
Thanks to everyone – I used little bits from lots of people. And thanks to Appalled for the latest change which I have implemented. I agree it’s really good to get the tenants’ attention in the title.
I’ve also got the word ‘business’ in a few times as I think we should approach the leaders of industry (the CBI, companies on the Government’s ‘Business Advisory Group etc. in an aim to get them to influence Government and also all the businesses with whom we are in regular contact – our builders, electricians, plumbers, mortgage advisers, lawyers, letting agents etc. and also encourage them to get friends and family to sign. Caz’ suggestion of using Facebook is spot on. I don’t want to get too carried away but I’m starting to think a million signatures is a modest target.

Reply to the comment left by “CaZ ” at “27/07/2015 – 12:01“:

Yes CaZ, there is a lot of talk about the issue on FB and it’s one of the reasons I am so surprised that nobody has yet started the e-petition. Hopefully this afternoon that issue will be addressed.

You are completely right in what FB can do. It’s not just Landlords forum pages that the link to the petition can be posted on but many towns have tenant pages looking for property as well as local pages that are just about the town.

There will be pages for different tradespeople too, mortgages, builders, students, etc, etc, etc.

If everyone gets behind this the exposure will be enormous and the petition should fly.

Reply to the comment left by “Lee Gough” at “27/07/2015 – 04:21“:

I am no longer a member of the NLA but they still send me emails. I received one about the budget:

http://www.landlords.org.uk/news-campaigns/news/update-nla-budget-briefing-july-2015

as follows:

” Richard Lambert, Chief Executive Officer, National landlords Association (NLA), said:
“The Chancellor’s unwavering commitment to homeownership blinds him to the impact of the policies he proposes on the hard-working people he claims to champion.

“This move does nothing to support wider housing provision and will ultimately make Mr Osborne responsible for adding £840 per year – or £70 per month – to rents”.

The very first comment that was posted below his is from someone who views the problem from the point of view of landlords whose tenants are on housing benefit. It reads:

“Submitted by 9994 on 8 July 2015 – 8:57pm.

Richard Lambert’s comments are all very well but not all of us can pass on these costs to the tenants.

What if you are a landlord in a very tough market such as Stoke-on-Trent where rents have not moved for 10 years?

Indeed, at the bottom end where tenants are receiving housing benefit, we as landlords have not only seen the majority of payments shifted from direct-to-us but direct-to- the tenant (with all the associated moral hazard which that entails) but also have seen the local authority reduce the previous “DSS” payment to “LHA”.

No longer can one get £400 pcm on a 2 bed terrace – rather £350. How on earth can I stick £70 pcm onto this ? Simply, I cannot.

Oh and by the way, here in Stoke in respect of Council Tax Liability (no doubt like in many other areas where local authorities are trying to alleviate their budget deficits) we have been cut from 6 months’ grace on empty unfurnished properties to 28 days to ZERO as of this April.

It could be worse I suppose if I were running my BTL biz through a company and taking my “wage” as a dividend….(my sympathies go to those who do)

Nevertheless, there are 1000s of good responsible LLs out there providing an essential service to this country (given the well publicised lack of social housing not provided for by successive governments). We should be being encouraged and supported NOT clobbered left right and centre by such measures.”

I heartily agree.

Reply to the comment left by “Ros .” at “27/07/2015 – 12:30“:

Excellent Ros!