Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 4 weeks ago 48
Dear Ms. Ellison,
SECTION 24, 2015 FINANCE ACT (No.2)
I was exceeding pleased to see both Gauke and Osborne shifted from their positions and held high hopes for new thinking, preferably from people who could demonstrate a real understanding of professional landlords. Unfortunately it seems you are continuing to state the obvious falsities of your predecessor.
I note that you still claim only 1 in 5 landlords will be affected. Apart from surveys proving this to be untrue, (not to mention 146,000 pushed into higher tax brackets on no additional income), have you realised that ‘1 in 5’ is actually around 400,000 people? Had you further realised that these people were previously, in the main, supporters of the Conservatives?!
Since the 1 in 5 figure could not be justified by HMRC in a previous FOI request, one can only believe that no research was done and that the figure was unjustifiably plucked from thin air. Even if it were true, 400,000 tax paying, economically active people being forced into extreme tax rates or bankruptcy by the State is an utter disgrace that no Conservative would ever contemplate, let alone implement with glee. It amounts to nothing more than state-sponsored confiscation of private assets, the exact opposite of any Conservative ideology I have ever understood.
Worse than this, in your figures, how many tenants does 400,000 landlords represent? One million? Two million? More? If these landlords only had two houses, each with two tenants, that’s a minimum of 1.6m facing huge rent rises and most likely, eviction. How does this fit with Theresa May’s new ‘opportunities for all’ and the general claim that rents shouldn’t get any higher?
I’ve no idea who in the OBR thinks rents will not rise nor what evidence they have to support this view because they already are, and in countries where this nonsense has been flirted with rents have rocketed by up to 40%. The predicted climb in rents comes from a wide variety of sources across the country and includes my own actions, so please do not tell me it isn’t happening. Once the subsequent evictions start, many of these displaced tenants will be looking for state help with housing, and temporary accommodation will have to be provided at much, much higher cost.
It is beyond comprehension to me that anyone calling themselves Conservative could attack so many of their own supporters, potentially leaving them in financial ruin, whilst raiding the private sector to prevent an essential service! It is the worst embarrassment in a lifetime of being a Conservative, and needs an urgent rethink if a further housing crisis is to be avoided.
Cllr. James Fraser
Leader of the Conservatives
Stevenage Borough Council
— Property118.com (@Property118) September 7, 2016
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