Summer Budget 2015 – Landlords Reactions

Reply to the comment left by “BTL INVESTOR SCOTLAND” at “24/08/2015 – 12:43“:

Do you think he will get the report?

Reply to the comment left by “BTL INVESTOR SCOTLAND” at “24/08/2015 – 12:50“:

Hi BTL.
It might be an idea for one of us to contact Ancrew Tyrie and ask him if he thinks the ‘tax relief restriction’ serves to simplify or complicate the taxation system? And also his views on the ‘fairness’ of it. Any takers?
When we see MPs like this who have more than one brain cell and might support us in Parliament, we shouldn’t pass up this opportunity (NB. I’ll write if no-one else wants to, but I’ve been meaning to get around to editing submissions for a couple of hours now and keep finding other things I have to do!)

Reply to the comment left by “Connie Cheuk” at “24/08/2015 – 12:31“:

Hi Connie.
I’ve also been meaning to get back to you and offer my support for the crap you’ve had to put up with. I’ve not read it and don’t intend to, but can imagine what rubbish people are spouting. People who have no idea. For example, the fact that often the margins in this business are rubbish – and it hardly seems worth bothering for all the hassle we get. I’ve got a couple of non-payers at the moment, for instance – and the one blocked up the toilet with kitchen roll and we had to get a plumber out even though she’s not paying the rent. And many of my houses haven’t gone up in value in the last 8-9 years. Unlike Housing Association employees we don’t have a guaranteed wage packet at the end of each month, when we work full-time renting out houses. And we can sink our money into buying a house and have to sell it at a loss. The stress and the toll some of these things take on us is enormous and then ignoramuses slag us off and spout stereotypical, prejudiced and ill-informed crap on the internet. Half the time they’re just jealous arses who think we’re raking it in and can’t bear it. These are the same people who wouldn’t risk their money on buying a house and then letting it out to someone hoping that they’d honour their agreement and pay the rent. If they had someone owe them £10 they’d be furious, but they have no empathy for us when we are owed thousands…. Anyway, so much to say, but I’ll hold fire and try and get around to my jobs for the day! Finally, though, remember that these people talk shit. Apparently, I get slagged off on that HPC forum but I don’t read about it, which hopefully annoys them.

Hi all.
Quick question: can anyone remind me the source of the following information and fill in any of the gaps?

‘The evidence is that over a period of … years, when house prices rose by 150%, the proportion of the rise which can be attributed to the private rented sector is 7%. The rise was caused mostly by….. ‘

I need it for a report I’m hoping to finish today.

Reply to the comment left by “Ros .” at “24/08/2015 – 15:07“:

Hi Ros

I will email Andrew Tyrie and ask him whether he thinks it is fair that BTL landlords will no longer be able to offset a business cost i.e. Finance charges against the revenue they receive and as a result will be taxed on profits that they do not actually make. As he is on the Treasury Select Committee I will be very interested to hear his response.

Reply to the comment left by “Ros .” at “24/08/2015 – 15:07“:

Hi Ros

I will email Andrew Tyrie and ask him whether he thinks it is fair that BTL landlords will no longer be able to offset a business cost i.e. Finance charges against the revenue they receive and as a result will be taxed on profits that they do not actually make. As he is on the Treasury Select Committee I will be very interested to hear his response.

Reply to the comment left by “Matthew Dervin” at “24/08/2015 – 15:38“:

Brilliant Matthew. Let us know how you get on.

Reply to the comment left by “Ros .” at “24/08/2015 – 15:34“:

Hi Ros

This is an excerpt from something I posted earlier:

“Only 7% of the 150% rise in property prices between 1996 and 2007 was due to increased lending to landlords, according to a report published in 2007 by the National Housing and Planning Advice Unit, a British quango:
http://webarchive.nationalarchives.gov.uk/20120919132719/http://www.communities.gov.uk/documents/507390/pdf/684943.pdf

On page 18 there is a graph showing rise in prices between 1996 and the summer of 2007, when the market peaked. It shows the actual rise compared to what they estimate would have happened if there were no BTL mortgage lending. The gap at the peak was 7.4%.

On page 20 it states “For instance, since 1996Q3 house prices increased in real terms by 150 per cent [up to 2007Q2]”.

Reply to the comment left by “Appalled Landlord” at “24/08/2015 – 15:58“:

Brilliant. Thanks Appalled. I’m hoping this is the last missing piece of my puzzle.

Reply to the comment left by “Michael ” at “24/08/2015 – 12:09“:

Good they’re finally reporting it as it is.