Summer Budget 2015 – Landlords Reactions

Yes, and I have also heard that it is not always going to be necessary to have deposits in cash when moving to a company structure, but that equity will be sufficient.

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

£600 million to build circa 3,000 properties equates to circa £200k per property – will the focus be on houses rather than flats?

Legal & General would have access to investors’ money and therefore can probably fund this without borrowings. It will be interesting to see what yield they will be offering to investors.

Hi ros

100% the buy to let lending market is to big and profitable to just whittle away.

The whole market will shift and adapt to the new environment despite of how ludicrous and unfair clause 24 is.

If you think about it of all professional landlords like ourselves incorporate under LTD company it is a lot easier for HMRC to police and identity from a tax perspective and it streamlines the industry some what. This is not me agreeing by the way I am trying to look at it with their eyes there must be some reason behind it surely you would like to think so my view is it is a massive blunder

Government strategy against PRS landlords finally revealed?.
U.K. Rental market ‘dysfunctional’ say institutional investors as L&G plan new build-to-rent investments.Now it all makes sense… follow the link to today’s Guardian article

http://gu.com/p/4g6nh

Reply to the comment left by “Claudio Valentini” at “28/01/2016 – 11:23“:

Same story that I posted yesterday

Some of the comments are quite funny really, so many people think this is a good thing and that rents will somehow not go up. Of course they will, corporate landlords have shareholders who want maximum returns.
I do wonder if some of or all of the build to rent funding from the tax payers has been channeled their way. The criteria for the grants doesn’t help small developers build out infill sites.
Legal & General of course are not wrong in what they are doing. They are seeing an opportunity in the market and are grabbing hold of it as a profitable exercise like any company or business would. The money savings of mass production are highly unlikely to be passed down to the tenants. That market opportunity is likely to have been engineered long ago with Gordon Osborne and the Conservative party funding arrangements.
So, which first time buyers are going to be helped by this?

Reply to the comment left by “Darren Bell” at “28/01/2016 – 12:40“:

Hi, George here,

They WILL be competitive because I have made the alternative far more expensive, I increased SDLT, and C24 etc.for private landlords.

They say it’s sneaky, but I knew what I was doing. I didn’t belong to Bullingdon for nothing old chap!

Yours, Chancellor.

Reply to the comment left by “Darren Bell” at “28/01/2016 – 12:40“:

But many people (even most) want to live in houses, with gardens if they can, not in institutional blocks.

If I wanted to share a washing machine, I’d go the laundrette. Be sharing kitchens next. All very socialist.

Little boxes on the hillside,
Little boxes all the same.
…
And they’re all made out of ticky tacky
And they all look just the same.

Oh brave new world!

That very annoying person from L & G had his pathetic unfounded attack on the traditional PRS quoted in the Express today. It would be good if someone could write to him – and maybe do it as an open letter – giving him some statistics on how tenant satisfaction is higher with private landlords than it is with either Housing Associations or institutions. And also some stats on how people will not want to pay the extortionate rents these institutions will charge. Students are protesting as we speak against the massive costs of living in halls in UCL. They don’t want extortionate rents in nice boxes with communal facilities – they want ‘cheap and cheerful’ and they can only get that from the ‘traditional’ landlords. He shouldn’t be allowed to get away with his sweeping, negative statements about a whole sector, with no evidence whatsoever – and with him being completely biased in favour of institutions because, uh, he’s running one.

Reply to the comment left by “Ros .” at “28/01/2016 – 19:15“:

Hi Ros

Maybe someone could refer him to the top of page 5 of the Housing Policy Paper that J Corbyn wrote in August 2015 before he was elected leader. He would cancel the right to buy social housing, but introduce right to buy for tenants of large scale private landlords.

https://d3n8a8pro7vhmx.cloudfront.net/jeremyforlabour/pages/106/attachments/original/1438782182/housing.pdf?1438782182

“We could also investigate whether some of this money could be used to fund a form of right-to-buy shared equity scheme to private tenants in cases when they are renting from large-scale landlords.”