Summer Budget 2015 – Landlords Reactions

The private landlord is dead I cannot believe what this man has done to our businesses diversify is the key because it’s going to be near impossible to make money in buy to let the way we no it and my gut feeling is he isn’t finished even the RLA accept he is destroying the market.

This will unravel over the next few years where are all these first time buyers coming from ? Madness on an epic scale he’s got you on every angle

The last issue we had to face was the imposition of the new tax changes.

But what did BTL’ers do?

2m BTL’ers in the UK and …. still not even 40k signatures!

GO must think he’s invincible!

https://petition.parliament.uk/petitions/104880

If I have my rented properties and I live in a property rented from someone else, what will be the land tax when I buy a permanent place to live?

Reply to the comment left by “Chris Brown” at “25/11/2015 – 16:52“:

Hope it doesn’t apply to land purchases for development, although SDLT still applies, just to what level?. Was going to apply the services I normally offer to clients to our own use and get developing. Not sure if we would want to hang onto any though with landlords being singled out by the government, maybe through a company structure?

Just sent the follwoing to my MP, Andrew Murrison togehter with the a copy of the email the NLA sent out this afternoon about the change in SDLT.

Dear Andrew,

I await your reply.

Can I urge everyone to barrack their own local MP.

Reply to the comment left by “NW Landlord” at “25/11/2015 – 16:59“:

i agree he will wait and see what affect his policies has had and if he still hasnt got the revenue he wants or the PRS decreased enough he will attack again.

I tried with my MP and she said with every government there are casualties and unfortunately buy to let landlords are one big one

Does anyone think the government doesn’t know what is doing and the consequences they know exactly and quite frankly they couldn’t give a sxxt

Between 1999-00 and 2010-11, spending on Housing Benefit increased by 46% in real terms, reaching £21.4 billion. 46 The government has already announced significant changes to Housing Benefit at Summer Budget. This Spending Review and Autumn Statement takes further steps to ensure fairness between those receiving Housing Benefit and those paying for the system. The government will:

cap the amount of rent that Housing Benefit will cover in the social sector to the relevant Local Housing Allowance, which is the rate paid to private renters on Housing Benefit. This will include the Shared Accommodation Rate for single claimants under 35 who do not have dependent children. This reform will mean that Housing Benefit will no longer fully subsidise families to live in social houses that many working families cannot afford, and will better align the rules in the private and social rented sectors. It will also ensure that Housing Benefit costs are better controlled and will help prevent social landlords from charging inflated rent for their properties. This will apply to tenancies signed after 1 April 2016, with Housing Benefit entitlement changing from 1 April 2018 onwards
limit Housing Benefit and Pension Credit payments to 4 weeks for claimants who are outside Great Britain, from April 2016. At present, Housing Benefit recipients can go abroad for up to 13 weeks while continuing to receive Housing Benefit. The benefit system should not subsidise those on benefits to go abroad for extended periods: this reform will ensure the benefit system is not paying the rent of people who go abroad for more than 4 weeks at a time
Additional Discretionary Housing Payment funding will be made available to local authorities to protect the most vulnerable including those in supported accommodation.

They cut DCP last time by 40% for people on benefits now they are giving some back. A tenant given a S21 gets DHP for 3 months to find somewhere else to live, then its stopped. and they wait fo the baliff.

5) Higher rates of Stamp Duty Land Tax (SDLT) will be charged on purchases of additional residential properties, such as buy to let properties and second homes, with effect from 1 April 2016. The higher rates will be 3 percentage points above the current SDLT rates. The government will use some of the additional tax collected to provide £60 million for communities in England where the impact of second homes is particularly acute. The tax receipts will help towards doubling the affordable housing budget. This will help first time buyers.

Wow a reply within minutes!!!!

Thank you. I was expecting your email. Firstly Im not a member of the government since I’m not a minister. That said I was a little surprised by the 3% and will write with your message to HMT for comment.
Regards,
Andrew