Summer Budget 2015 – Landlords Reactions

This I expect::
http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/11762045/End-of-cheap-mortgage-boom-as-big-banks-raise-rates.html

A homless charity which I have helped in the past and mainly provides hostel accommodation for ex services, contacted me yesterday.

Did I have any 2 beds for a ex army chap and his daughter? , I had already written to the charity to highlight C24 in the hope they would support us. They have lost some of their budget and cant find extenal accommodation due to the 2 bed LHA rate being 550 and most 2 beds being 650. No one will touch them because of the risk .

I wonder how many ex service personal out there will be facing the same problems.

Does anybody have any info on figures , because its not just the poorest in society its also the ones that fought for this country.

With some of the comments I have been reading on various articles I’m sure there are many of the general low income renting public thinking its their right to have accommodation paid for them by the state at the expense of property businesses. So even if charity groups speak out their message will fall on deaf ears. That said its still worth asking them how the changes will affect them.

One comment I saw on an article is that a tenant would rather have an institutional landlord as they will be treated better. Does anyone have any real statistics or facts either way?

I don’t have any precise statsitics but I am getting rid of a third of my housing benefit tenants in the next 18 months and moving over to working people and tourists.

If it’s hard to house people on LHA now,in 2020 it will be impossible.The only properties they will find will be of a very poor standard or very limited council accommodation.

Reply to the comment left by “Bill Morgan” at “25/11/2015 – 12:23“:

Hi Bill

Check out our home page, we could save you a lot of hassle and agency fees in terms of the sales.
.

Since universal credit I have stopped taking benefits and focusing on Eastern European workers who are top class tenants pay on time or early and keep the houses mint very lucky in my areas as there are loads of them to choose from.

People on universal credit are struggling to get anywhere and are living with parents etc hear the same story all of the time this government are screwing everyone

New BTL purchases will pay an additional 3% SDLT from April 2017
Thanks GO

Hot off the press!
An extra 3% stamp duty to be paid on BTL purchases. I couldn’t give a damn as I’ll never be buying another one again.
On the other hand, it will make it harder to sell to other landlords now – so I suppose it’s another pressure on us to sell to FTBs. Pity the b**stard couldn’t have given us an incentive to sell to them instead. I didn’t see that one coming. And the landlord bodies thought he might cut CGT if we sold to FTBs. I have a lot of cheap houses though and 3% might not have a big impact – especially for those who can hang on a bit before selling and maybe see their houses increase in value by a lot more than 3% before selling.
I hope the possibility of increasing CGT to 40% has at least evaporated for now, as we did wonder if that might have happened and that would have been a lot worse.

Sell up ahead of the game before the vulture comes after us for more I feel sorry for southern landlords with high mortgages most of my loans are around 50k the higher ones a the ones that I am going to be sold

I think it would have been far better move, if he stated “We have listened to BTL landlords campaigns and we have established that, it is not fair that Cash Purchasers are not affected by New Tax reforms therefore we have decided previously announced budget changes to be replaced by New Stamp Duty on BTL purchases.