Simon Williams

Registered with
Monday 11th July 2016

Latest Comments

Total Number of Property118 Comments: 117

Simon Williams

13:41 PM, 23rd July 2020
About 2 weeks ago

Landlords - Don't complain!

The simple truth is that if you encourage more landlords to buy, you will encourage more developers to build. That means more homes coming on stream to purchase for every type of buyer. Furthermore, landlords have been very good at making efficient use of existing stock and they are the major clients at property auctions bringing back disused or dilapidated properties into the system and then renting them out. Supply levels actually benefit from landlord investment.... Read More

Simon Williams

11:15 AM, 15th July 2020
About 3 weeks ago

Chancellor requests review of CGT by the OTS

I seem to remember George Osborne, when Chancellor, saying that if they went beyond the current CGT 18/28% rates, they would probably raise less, not more, as there is a point at which people are discouraged from realising their gains. That is our best hope. the Government would love to get landlords paying more tax, but they know there are limits.

That said, it is almost inevitable that they will squeeze more out of us somehow.

In the days of Nigel Lawson, tax rates for CGT did mirror those for income tax, but this was heavily mitigated by indexation allowance that compensated for inflation and also you got investment taper relief whereby the longer you owned the asset, the more relief you got. so many property investors would have paid less tax than now. Lawson believed that CGT should not encourage people to hold assets only for short periods, which is what high CGT rates would do. It is not good for the economy when people are constantly churning their assets.

When comparing our rates with other countries, it is important to note that, unlike many countries, we are taxed even on purely inflationary gains right now. In that context, the rates are not generous.... Read More

Simon Williams

11:44 AM, 13th July 2020
About 3 weeks ago

Shadow housing secretary accusing Sunak of massive 'Bung' to Landlords

A reminder if we really needed it that Labour's hatred of landlords and wealth creation generally is as visceral as ever. Only the labour party can turn a policy to maintain an existing 3% surcharge into a "bung to second homeowners."
I don't think many landlords will rush to buy now anyway (so 1.3 billion figure quoted by Labour probably wrong) but in the days when they did, it meant more homes being built not less. Landlord investment provided the crucial early stage financing to encourage developers to start building and a new development thus created would provide homes not only to private renters but also to homeowners and not for profit renting under minimum affordable rules.
Nowdays, what has kept developers afloat in the absence of landlord money has been help-to-buy - arguably one of the biggest and costliest bungs ever (reported in 2018 to be costing the taxpayer £7.5 million per day).... Read More

Simon Williams

12:07 PM, 9th June 2020
About 2 months ago

Even more worrying requests by the Select Committee

As the weight of pressure mounts for ever more draconian anti-landlord measures, I remind myself that the only reliable insurance policy against disaster is to choose your tenants with very great care.

Any tenant without a solid source of income and a normal "average personality" isn't worth the risk. If that means more voids while waiting for the right person to come along, so be it.... Read More

Simon Williams

12:24 PM, 4th June 2020
About 2 months ago

TMW 1year 1% existing customer BTL switch product

Generally a fan of TMW, but their switch rates are often significantly higher than their rates to new lenders, so when you need to switch in a year's time, you will be stung. The Coventry switch sounds very good by contrast and looks similar to what's on offer for new borrowers - so a good, transparent, deal.... Read More