Summer Budget 2015 – Landlords Reactions

Reply to the comment left by “Mark Shine” at “29/11/2015 – 21:13“:

Hi Mark, I’m sure you are right, which is why we all must be like wasps round jam. Doesn’t matter how much you try to get rid of them and swat them away, they persevere – and eventually you take notice. There is nothing quite as compelling as perseverance, especially when right is on your side – we just have to ensure more and more people understand the issues. As I think I have said previously – no right thinking person could possibly think these measures are fair / right / moral

Homelessness trends
Table 1 shows that the number of households found to be homeless5
by local
authorities increased 31 per cent between 1997/98 and 2003/04. Since then the
numbers have decreased by 47 per cent.
Table 1: Homelessness trends
Year Total number households
found to be homeless
Total number homeless
households accepted by local
authorities for rehousing
1997/98 164,620 102,430
1998/99 166,660 104,260
1999/00 168,230 105,580
2000/01 174,430 114,670
2002/03 201,500 128,540
2003/04 216,080 135,430
2004/05 193,860 120,860
2005/06 152,780 93,980
2006/07 115,430 73,360

I wonder how much this will riseby in 2018
I expect the government to not publish figures call it something else

Table 2 shows, in 2006/07, in addition to London; the North East, North West, West
Midlands, and Yorkshire and Humberside regions also had a higher-than-national
average rate of homelessness acceptances.
Table 2: Households accepted by local authorities for rehousing by region
in 2006/07
Regions Number of homeless
households accepted
by local authorities for
rehousing
Number of acceptances
per 1,000 households
North East 4,790 4.4
North West 11,380 3.9
Yorkshire and
Humberside
8,220 3.9
East Midlands 6,020 3.3
West Midlands 8,740 4.0
East of England 6,890 3.0
London 15,390 4.9
South East 6,660 2.0
South West 5,270 2.4
National total/average 73,360 3.5

Will we get to a stage where its all the homeless people in the remaining social housing after most of its been sold off to tenants

Homeless households face further problems due to the lack of supply of social
rented homes and poor access to social tenancies in some areas. Currently, 31
per cent of council and 17 per cent of housing association lettings are made to
homeless households whom local authorities have a duty to rehouse.10 Delays
in Housing Benefit payments can cause rent arrears, which may lead to eviction
and homelessness. The main causes of arrears are problems with claiming benefits,
including delays in receiving them, and shortfalls between Housing Benefit
paid and the cost of rent.11

Reply to the comment left by “Manchester Landlord” at “28/11/2015 – 09:49“:

Hello Manchester Landlord, I did exactly that a couple of days after the July budget, once I’d realised the implications of the coming changes.

Being a natural Conservative voter anyway, I figured I had a duty to try to change a policy that I was unhappy with from within. I recently wrote to my MP Justine Greening, and got a variation on the ‘stock’ reply. Very disappointing. I made it clear in my letter that I was a member of the party and that I would be unlikely to support George Osborne for leader when the time came.

Reply to the comment left by “Ros .” at “29/11/2015 – 21:09“:

Visiting this site after reading about the new buy-to-let taxes etc this weekend. Having read your draft letter and without knowing how many properties you have in your portfolio, I wondered what thought you had given to selling some of your properties in order to pay down on the others? I assume you’re exposed to the new taxes because you’re quite highly leveraged and if you accept that interest rates will inevitably rise at some point in the near future then wouldn’t it be prudent to use the fact that you’re obviously ahead of the game in anticipating the likely outcomes to your advantage?

Reply to the comment left by “Chris Cooper” at “29/11/2015 – 21:52“:

Hi Chris

I know exactly what you mean. I haven’t stopped campaigning and I encourage others to do the same. I have my bad days when I get knocked back but that’s because I’m only human. Then I get inspired again.

Have you ever tried to go to sleep when you know there is at least one mosquito in the room?

What we need is a swarm!

Plan for the worst though.
.

Reply to the comment left by “Julius Caesar” at “30/11/2015 – 09:29“:

@Julius C.

All I’ve ever got back was “stock” answers, but it was only when I met my MP face-to-face and showed him my spreadsheet that he “got it”.

I still doubt he’ll do anything though, he’ll just continue towing the party line, he’ll not rock the boat and jeopardise his political career.

I’m in the process of writing to him again -never say die.

Reply to the comment left by “Gordon Comstock” at “30/11/2015 – 10:13“:

Gordon, you do not need to be highly leveraged at all for this to be a big change for tax. Simply employed and have a mortgage on another house.

To me it’s over 100 pounds a month in extra tax once the change is fully implemented.

I will be moving massively into the 40% tax bracket and have to pay back child benefit of my partner. I own a single rented property and it’s a 60% LTV.

Reply to the comment left by “James dengel” at “30/11/2015 – 12:55“:

Hi James, indeed – my LTV across my portfolio is 67%. My gross income from employment is £35,000. My gross property “income” (under the new rules) will be £66,000 after allowable expenses. Under the “old” rules my net profit from property would have been approx £15,000, and under the new rules will be a £1,000 loss. With a combined gross “income” of over £100,000 I start to lose my Personal Tax Allowance (lose it completely if my income / rents increase by another £22,000), which means raising rents (even if I could by £22,000) won’t help much either. That will place some of my tax being paid at 60%