Summer Budget 2015 – Landlords Reactions

Reply to the comment left by “Barry Fitzpatrick” at “28/09/2015 – 12:13“:

No I tried and emailed but they didnt response which was really disappointing. I am a ukip voter

Reply to the comment left by “Appalled Landlord” at “28/09/2015 – 10:45“:

Has Cameron announced it then? we are past 100 days now…

Mark A
Can you get your contacts at the guardian and Telegraph to challenge cameron on his income tax pledge and Clause 24 Tenant Tax and see what Cameron has to say now we are past the first 100 days?

UKIP will not win the next election, I think most will still vote Tory as they are the only real option against Labour…

Was just listening to john mcdonnell who said he would cut relief for BTL landlords who claim relief for repairs that they never do. Am I missing a trick but the 10% wear and tear allowance is already on its way out, and any repairs we claim for have receipts for or risk the wrath of HMRC. So my only guess is he will remove mortgage relief and all repair offset. Effectively sounds like he doesnt want us to claim anything. I wont go into how this will stop landlords repairing properties etc as we all know what will happen.

Reply to the comment left by “Mark Brown” at “28/09/2015 – 12:28“:

Not to my knowledge. The Tax Lock must have been a victim of the Austerity cuts!

This new report on housing aspirations makes interesting reading.

http://www.gov.scot/Resource/0048/00485802.pdf

Reply to the comment left by “Mark Brown” at “27/09/2015 – 23:54“:

I am not comfortable with calling it a tenant tax. It is a tax on a landlord or an operating cost for a landlord with a mortgage. I would not describe mortgage interest, insurance premium or any other costs as a tenant cost and therefore I do not feel I can call this a tenant tax.

Those that are anti private landlords and anti btl will be very quick to correct the terminology and probably criticize landlords for calling it a tenant tax. I prefer to explain it for what it is and how it will affect those landlords with mortgages. As with most things we all have different views and act with what we are comfortable with.

Reply to the comment left by “steve p” at “28/09/2015 – 12:46“:

Hi steve

I saw him as well. I tell you now, what a spellbinding orator!

He said “There will be cuts to the £billion tax breaks given to BTL landlords for repairing their homes when they do not undertake the repairs”. Either he doesn’t know what he is talking about, or he intends to send tax inspectors to inspect repairs. Interestingly, he didn’t mention the mortgage interest “tax break” at all.

He also said that 100,000 children in homeless families will sleep in a B&B or temporary accommodation tonight. On behalf of the Party, he gave those children his solemn promise that when they return to government they will build them all a decent and secure home in which to live.

Reply to the comment left by “Appalled Landlord” at “28/09/2015 – 09:11“:

Appalled, you focused in on one part of my letter which was not directly related to Clause 24. However I imagine that all LLs who will be affected by Clause 24 would like to see full and thorough consultation with EXPERTS take place first? IF that happens and IF after detailed and transparent research and debate, genuine expert conclusion is that BTL is also risk to financial stability and they recommend putting pressure on lenders to convert BTL to repayment mortgages,
would you prefer:

1. All your mortgages converted to repayment overnight
or
2. Up to 15% of each of your mortgages converted to repayment and phased in?

BTW Appalled, the calculator that you got from U know who about 10 days ago, I received the following Friday from them and is now live on their blog. Did you get any response to your email to them?

Reply to the comment left by “Appalled Landlord” at “28/09/2015 – 14:21“:

PS John McDonnell also said they will cut the housing benefit bill by building the homes we’d need and controlling exorbitant rents.