Summer Budget 2015 – Landlords Reactions

Reply to the comment left by “Mark Alexander” at “12/12/2015 – 17:33“:

**content deleted by moderator – user account blocked as of 14th December 2015**

Reply to the comment left by “Mark Alexander” at “12/12/2015 – 14:07“:

Yes I will have to pay 3% stamp on all the purchases… But they will all be between £50-70k purchases so I’m not too concerned. I shouldn’t have any CGT to pay as some of my properties are worth less than what I bought them for and most have stagnated, plus I will use both of our CGT allowances each year. There may be a better way to do it and I’m keeping an open mind, but my main priority now is protecting assets, even if I end up with a much smaller unencumbered portfolio in a company.

Reply to the comment left by “Moffard John” at “12/12/2015 – 18:44“:

You are absolutely right. This is my blog and I will ban whoever I wish to ban. It is no different to my right to decide who enters my home. I don’t compel anybody to post comments on my blog but I do reserve the right to prevent whoever I wish from posting comments on my blog.

Everybody is entitled to post comments on any forum that allows them to do so, subject of course to libel, slander and Internet bullying laws and regulations.
.

Reply to the comment left by “Mark Alexander” at “12/12/2015 – 19:16“:

**content deleted by moderator – user account blocked as of 14th December 2015**

Reply to the comment left by “Worried by Budget ” at “12/12/2015 – 19:13“:

Are you human or robot, prove it?

Reply to the comment left by “Mark Alexander” at “12/12/2015 – 14:07“:

Re “You would still have to pay SDLT, plus the extra 3% after April 2016 unless the properties are with less than £40,000 each”.

That’s an interesting point Mark and one I hadn’t thought of. I suspect my properties are very similar to ML’s and likewise they would not incur significant CGT on incorporation and up until now no SDLT either. The 3% on incorporation is yet another new factor to throw into an already complicated mix.

Reply to the comment left by “David Price” at “12/12/2015 – 19:38“:

Well said David.

It’s easy to pick holes / take cheap shots with what ‘someone else’ writes on the internet or in the media. That sort of behaviour should perhaps be left to members of another particular housing related website (which also happens to be the most narcissistic website in the history of the internet)? They bought GO’s rhetoric hook, line & sinker… and are THE experts of taking cheap shots at P118 posters. Just leave ’em to it.

The fact remains that whether one agrees or not with everything she does or says, Ros has repeatedly put most of us to shame by the huge efforts she has made to get the media to consider some critical thinking wrt C24 and GO’s attempts of ‘Tescoisation’ of the PRS. Much of the electorate’s wallets may be happy how it worked out in the retail sector (despite killing off many smaller independent higher quality retailers) but for many reasons I can’t seeing the same thing happening wrt solving the housing crisis.

Reply to the comment left by “Mark Shine” at “12/12/2015 – 21:36“:

To the voyeurs & critical thinkers from that other housing related website:

I see that my above post has not yet been copied/pasted and appeared on your website yet. It has been 50 or so minutes since I posted, so am a little confused.

Please advise urgently.

3.84 A number of recent policy measures could affect the housing market:
• there is a risk that the greater flexibility over people’s access to their pension assets
that came into effect in April 2015 could affect the housing market via buy-to-let
purchases. As we explained in Box 3.1 of the December 2014 EFO, we have not
adjusted our forecast for this as we assume that there will be broadly offsetting effects
from the flows associated with this policy change. A similar view was expressed in the
Bank of England’s July Financial Stability Report, drawing on evidence that only a
small number of pensioners would have a sufficient income in retirement to qualify for
a buy-to-let mortgage, have a pension pot large enough for a deposit and would not
previously have been eligible to access their pension;
• the changes to the inheritance tax regime announced in this Budget are likely to
increase the incentives for the elderly to purchase housing and discourage them from
selling their homes as the tax disincentives to hold a property to death have fallen,
potentially putting upward pressure on house prices. This may also have an effect on
the allocation of housing, as set out in Box 3.3;
• the restriction in mortgage interest rate relief to the basic rate and the removal of the
‘wear and tear allowance’ announced in this Budget is likely to reduce returns to buyto-let
property, putting downward pressure on house prices. Overall, we estimate that
this effect will be small and be offset by the change in inheritance tax, so we have not
adjusted our forecast for house prices; and
• the 1 per cent a year reductions in social sector rents for four years from April 2016
announced in this Budget will directly reduce social landlords’ rental income. We
expect that this will reduce their ability and willingness to invest in housing, so we have
lowered our forecast for residential investment, proportionate to the expected reduction
in rental income. The effect is to reduce the level of private residential investment by
around 0.7 per cent by the end of the forecast period, which is broadly consistent with
a reduction in housebuilding of 4,000 in 2020-21. Over the forecast period, our
assumptions suggest around 14,000 fewer affordable homes will be built. We do not
expect private sector house-builders to offset this effect to any material degree.
http://cdn.budgetresponsibility.independent.gov.uk/July-2015-EFO-234224.pdf

Reply to the comment left by “KATHY MILLER” at “13/12/2015 – 10:37“:

My conclusions from this report are that the tax changes achieve none of the Givernments stated aims and are nothing but a tax grab with spin to pass any blame onto private landlords.

It will be interesting to learn what the opinions are of the illuminati on opposing landlord forums!
.