Summer Budget 2015 – Landlords Reactions

https://www.landlordtoday.co.uk/breaking-news/2015/12/buy-to-let-taxes-will-lead-to-landlord-rush-to-incorporate

https://www.landlordtoday.co.uk/breaking-news/2015/12/btl-tax-clampdown-wont-help-generation-rent

Reply to the comment left by “Chris Cooper” at “03/12/2015 – 23:14“:

Don’t they even realise they contradict themselves?

“David Gauke, the Treasury minister, told MPs that it was impossible to calculate the figure.”

But

““Only one in five individual landlords will be affected by this change, which will help address unfairness in our taxation of property.”

So the figure can’t be calculated but we say it’sone in five – so there!

http://www.theguardian.com/business/2015/nov/25/the-housing-market-is-broken-people-need-help-to-rent-let-alone-buy

This fella doesn’t like landlords

Lord Young is recommending that BTL investors should be allowed to sell their properties to investment trusts in return for shares.

http://www.theyworkforyou.com/lords/?id=2015-12-03a.1206.2&s=landlord#g1226.0

Reply to the comment left by “BTL INVESTOR SCOTLAND” at “04/12/2015 – 10:56“:

I think he means well

Reply to the comment left by “Mark Shine” at “03/12/2015 – 21:14“:

If an individual has sufficient funds to buy several additional properties and is interested in investing further in BTL they are likely to do so irrespective of C24, therefore I do not think it creates any significant new opportunities for them.

I think I have posted this previously. However, if you haven’t seen it yet, it is definitely worth a read. The document is called “Building the new private rented sector: issues and prospects England”,

It is a House of Commons Briefing Paper and was published earlier this year:

http://researchbriefings.parliament.uk/ResearchBriefing/Summary/SN07094

Click on the full article pdf version.

I think it gives clues to motives behind recent measures but certainly the more information I examine, none of what is happening seems joined up.

Anyone fancy having a stab at answering this one and sending Roberta Blackman- Woods an email?

She seems to imply that landlords can purchase right to buy social housing – she certainly seems to blame us for Housing Association/council housing eventually ending up in landlords’ hands. Well, actually, it is the person renting (who I imagine is rarely a landlord) who buys the house at a great discount and makes the killing on it and if landlords later buy it, they buy it in an open market and pay the full whack… Also, where does she expect the students to live? Why are students’ accommodation needs seen to be not as important as others’?

Slurs all the flipping time. Inaccurate slurs. It gets on my tit.

Here is the extract from the debate:

Hansard source
(Citation: Housing and Planning Bill Deb, 1 December 2015, c402)

Roberta Blackman-Woods Shadow Minister (Communities and Local Government) (Housing)

That is a really helpful intervention. One would hope that the threat of grant clawback when a property is converted to buy to let or private renting would be enough of a disincentive to prevent people from doing so.

I appreciate that fiscal measures were taken in the autumn statement, but the amendment seeks to tease out from the Minister, in the absence of any information about the operation of the scheme, whether he intends to give any guidance to housing associations that would help them put together a scheme to ensure not only that people are moved into home ownership, which, as I keep stressing, we all want, but that there would be a time delay before the property could be transferred into the private rented sector. We want to restrict that, not because we have anything against private renting, but because it tends to lead to a higher housing benefit bill and can lead to a clustering of private rented sector properties in a given area, which can have ongoing management costs.

As I was saying, there can be an effect on the demographics, dynamics and stability of some neighbourhoods, which is not necessarily helpful. I am sure that anyone with a university seat such as mine will know exactly what that means in practice. The centre of Durham used to have two absolutely wonderful council housing estates that were built to high standards in the post-war era. They provided much-needed social rented housing in the city centre, which is normally quite expensive. Under right to buy, however, that good-quality housing was bought up over the years by student landlords and properties have been extended. So, instead of having social rented housing available in the city centre, we have huge clusterings of student housing, which takes a fair degree of management by the university, the students themselves and the local authority. We have to make it clear that there should be a tenure mix in an area, if at all possible, which is why we are very keen to see the Government engage with this issue at some level.’

http://www.theyworkforyou.com/pbc/2015-16/Housing_and_Planning_Bill/11-1_2015-12-01a.2.0?s=landlords#g2.22

Reply to the comment left by “Ros .” at “04/12/2015 – 13:11“:

I must be getting a bit senile but wasn’t it Margaret Thatcher (a Conservative I believe) who sold off “absolutely wonderful council housing estates” and thus caused the whole hiatus in the first instance?