My life is finite – Fergus Wilson
What has become clear is tenants, Councils, and Journalists expect Landlords to live forever!
The reality is that they get older and die! At that point Councils have to house tenants who cannot find alternative accommodation.
Private Sector Landlords (PSL) were encouraged to buy more and more houses to ease the Housing Shortage in the South East.
However, the punitive tax measures introduced by HM Government simply mean that being a BTL landlord is not as attractive now as in previous years! I have put together a Portfolio of top of the range houses in Ashford. This essentially means when sold they will go to Owner Occupiers rather than PSLs who will be seeking higher yields.
An overview of HM Government tactics is that it is preferable for all non-social housing to be held by companies rather than individuals. These companies will be sold on and have an infinite life! PSLs do not!
Around 25% of houses are owned by PSLs. Most only own one house! Very many people have invested in houses in a non-corporate manner. Some now via a Company.
Many MPs own BTL houses and there is nothing wrong with that. I do believe there should be a Register of MPs who own BTL houses (and number) and this should be extended to Elected Members of Councils.
Fergus
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Member Since November 2014 - Comments: 86
5:32 PM, 15th January 2019, About 7 years ago
Here, here Fergus. The Death Knell sent by the treasury to PSL landlords means that councils will have to pick up the tab. Corporates will run a streamlined business and only go after stock that pays.
Member Since July 2015 - Comments: 438
6:27 PM, 15th January 2019, About 7 years ago
“These companies will be sold on and have an infinite life! PSLs do not!”
I always assumed that was one of the unintended (or should that be main *intended* consequences?) of Osborne’s ahem ‘levelling of playing fields’ shenanigans.
Member Since November 2017 - Comments: 263
7:24 PM, 15th January 2019, About 7 years ago
I can’t help but wonder, with the PRS and PSL being perceived as a growing issue, shouldn’t all MP’s register any BTL involvement on the House register of interests?????
Dare I postulate that the self-serving interests of our MP’s might suggest that this needs to be made mandatory asap?????
Member Since July 2015 - Comments: 344
8:42 PM, 15th January 2019, About 7 years ago
“I do believe there should be a Register of MPs who own BTL houses”
The full list of MPs that own BTL is below.
https://www.channel4.com/news/factcheck/almost-one-in-five-mps-are-landlords