Summer Budget 2015 – Landlords Reactions

Reply to the comment left by “Worried by Budget ” at “26/01/2016 – 20:57“:

I did post that 4 comments up. :). But nice spot. Coverage in the standard is very good as I imagine most of the Westminster lot read that

Loving pm question time – Corbin raised question from an individual asking why are individuals taxed differently to big corporation – Cameron only response to repeatly say that under THIS government people will be paying less taxes – got me rolling around on the floor!!!

????? the puppet has spoken more lies

So here come GO’s City chums with their lovely low tax PRS investments: http://uk.reuters.com/article/uk-legal-general-pggm-homes-idUKKCN0V50UX

Reply to the comment left by “Paul Mathur” at “27/01/2016 – 12:36“:

Should we be reading anything in to the “we need to invest in the ‘new’, and build new homes to rent, and just stop inflating the prices of old housing stock”

Another article that is missing clause 24 and focusing on stamp duty rises which we all agree are nothing compared to Clause 24

https://www.propertyinvestortoday.co.uk/breaking-news/2016/1/a-bunfight-followed-by-a-fast-why-the-buy-to-let-tax-hike-should-not-be-feared#comments

I have previously mentioned the lack of publicity to the adverse affect clause 24 will have on landlords and tenants alike.

Rents will rise to cover this ironic tax and tenants will face eviction if they cannot afford to stay.

I have just come of the phone after explaining this to BBC Newcastle news desk(local branch) and metro radio news desk.
Both reporters were astonished by the devastation that this will cause and are looking to further investigate this before publishing a report.
I have highlighted the lack of news coverage nation wide as one of the reasons the petition to overturn this failed to reach the 100000 required signatures.
Both reporters said they will investigate these findings while I await a reply from my local mp (not holding my breathe for this one!!!)
Does anyone else wish to contact their local reporters and get this fiasco in the public eye.

Financial advisers continue to peddle mortgages knowing that it will ultimately end up as a bad investment just to line there pockets with today`s rush to buy before the new stamp duty kicks in this April.(Another special tax for landlords) They do not mention that this will not work for some while they line their pockets with the fee they receive from mortgage companies.
My own accountant has omitted to mention the affects clause 24 will have on myself and business. They seem to just look at the past and not the future with tax regulations. That would be to late for many investors/landlords to act when a huge tax bill arrives.

The whole thing is a complete and utter sham and for those that do know about this don`t want to inform the landlords and tenants who don`t , as to the way the rental market will go.

We have just had a letter from paragon highlighting the ludicrous changes by Alice.

They went on to say that they will consider on a case by case basis swapping mortgages into a limited company structure

My guess is other lenders will come forward as they already are doing offering the same it’s going to be a paper exercise but I really do believe there is light at the end of the tunnel there will be ways round this 100% just got to keep ur eye on the ball.

Hope this cheers a few up ?

Reply to the comment left by “NW Landlord” at “27/01/2016 – 15:14“:

Hi, Yes I had the same letter this morning. As NW landlord says, if they can do it others I am sure will follow, but I still hope a judicial review might make Alice sit up and take note

The only one I can see an issue with is Mx as they might see this as a perfect opportunity to force landlords to sell to pay back the tax payer.

The rest need to lend as that is how they exist and contrary to the spiel by the gov and the Bank of England buy to let mortgages are extremely save and profitable. What annoys me is they are trying to break something that is working not fix something that isn’t working.

They want there big boy mates to step in and tenants will end up dialling 0845 numbers instead of calling the landlord. They want to take the personal element away which in my experience my tenants like a lot