Summer Budget 2015 – Landlords Reactions

Reply to the comment left by “David Price” at “04/12/2015 – 16:37“:

David, absoultely hilarious.

Reply to the comment left by “Worried by Budget ” at “04/12/2015 – 15:26“:

This by far is the best section of Patrick Collinson’s article on “Is it time to close the door to foreign buyers of British property?”
“…. The Bow Group’s solution? To follow the example of Denmark, Switzerland and Australia and make it much tougher for foreign buyers to snap up homes as investment vehicles. It is astonishing that we allow, for example, millionaires in Singapore to buy land and property in Britain, but Singapore bars British and other foreign nationals from buying in their country.

Denmark prohibits non-EU nationals from buying a home unless they have lived in the country for five years – and, like Finland and Malta, is allowed by the EU to restrict EU citizens from buying second homes in the country. Australia has dramatically cracked down on foreign buyers who have pumped the property market in Sydney and Melbourne to absurd levels. Only Britain leaves the doors almost completely open.

The Bow Group proposes that foreign residents should be limited to the purchase of a single property, and only in the new-build sector, with penalties if they sell within five years. No new block should be more than 50% foreign-owned, it says. But the report goes further than just hammering foreign nationals – it wants the Bank of England to set a target where house prices average no more than four times income.

To some this report may read as xenophobic, or a manifesto for nimbys. It certainly is London-centric. But its conclusions share a lot of the philosophy of green lobbyists, who argue that the solution to traffic problems is not to build more roads. There is no point in mega-developments – such as Vauxhall’s answer to Pudong – that do nothing to meet the underlying needs of British workers. “

https://www.politicshome.com/communities-and-regions/articles/opinion/council-mortgage-lenders/buy-let-not-saint-not-sinner

Housing charity Shelter’s head of policy Toby Lloyd added that the extension of the controversial Right to Buy scheme could dramatically deplete UK housing stock as it was being funded through the “forced sale of council houses”.
This issue of homelessness was also addressed, with Lloyd warning that “there is some dangers there may be some changes to the homelessness regulation, because traditionally the obvious solution is to just change the rules so they do not count as homeless anymore.” – See more at: https://www.politicshome.com/communities-and-regions/articles/opinion/moat/election-aftermath-what-tory-majority-government-means#sthash.yuuu2boA.LKRUKBU5.dpuf

Reply to the comment left by “Angry LL ” at “04/12/2015 – 19:02“:

And that is precisely the reason I won’t touch ex LA property. In my borough leaseholders have been hit with 5 figure bills to compensate for 20+ years lack of maintenance. What may look like a good deal can turn out to be anything but..

Whilst I remember, I was listening to radio this afternoon and it transpires that Chancellor is to rake in Escort Agencies and Adult entertainment industry which would raise Exchequer in excess of 5 Billion £’s as these earnings are never declared.

However I thought this would fall under immoral earnings therefore Chancellor should be prohibited to take this type of money.

Reply to the comment left by “Saeef Khan” at “04/12/2015 – 22:31“:

Don’t worry you will still get your usual discount for cash Saeef !!

ITV NEWS

Wincanton struggling with lack of affordable homes to rent.

I think it was a council person who said there will be less now as Buy to let landlords will leave the market due to tax changes

Reply to the comment left by “KATHY MILLER” at “04/12/2015 – 23:06“:

Buy to Let becoming Less to Let?

Let’s hope those looking for a rental property realise that the cause of this problem will have been clause 24 and the SDLT levies.
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Reply to the comment left by “Saeef Khan” at “04/12/2015 – 22:31“:

Offering ‘companionship services’ for money is not illegal nor immoral….therefore taxing it is not questionable. Now as for the morality of tax…..that is a different issue and warrants it’s own thread.