Opportunities for Landlords Post Brexit

by Mark Alexander

10:58 AM, 24th June 2016
About 2 years ago

Opportunities for Landlords Post Brexit

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Opportunities for Landlords Post Brexit
Opportinities for Landlords Post Brexit

Opportinities for Landlords Post Brexit

Will we see 0% interest rates in the UK post Brexit?

Is this Independence Day for the UK property sector?

Remember that before we joined the EU the UK still relied on mass immigration of workers. We still need immigration. In the 50’s, 60’s and 70’s these people came from outside the EU. They came to work, they didn’t come to claim benefits. Isn’t that what we want more of?

The UK is now in a strong position to control immigration. We can welcome workers and discourage benefit claimants.

It is likely that Boris Johnson will become our Prime Minister. In his time as Major of London he proved that he has a clear understanding of Economics and how the PRS impacts that. Accordingly, it is likely that he would chose a Chancellor who thinks the same way. Could that be the beginning of the end of the 3% SDLT loading and restrictions on finance cost relief for individual landlords?

EU law will continue to apply until the UK creates new laws. The proposed Judicial Review of legislation placing restrictions on finance cost relief for individual landlords relies on EU state aid law. That law still applies. The law exists to prevent Governments favouring one sector of the market over another. Restrictions on finance cost relief for individual landlords heavily favours corporate structures. On that basis alone, it should be held that it breaches EU state aid law. It is extremely unlikely that Boris would want to change that. If anything, due to his understanding of economy and property he is more likely to reverse the decision before a Judicial Review ever occurs. It would be a superb political move for Boris to do so because he would instantly win the hearts and minds of two million landlords who feel betrayed by George Osborne’s left wing approach to right wing politics.

The initial falls in the value of Sterling and the FTSE were inevitable but look at how quickly they bounced back.

I do not approve of the ‘doom and gloom’ media approach to the result. The people have made their decision and it is up to us all, whichever way we voted, to make the best of the opportunities before us.

There are difficulties in every opportunity and there are opportunities in every difficulty. Where is YOUR focus?

Let’s all concentrate on the opportunities and deal with the REAL challenges and ignore the political drivel standing in our way. In my opinion, the negativity of those who voted Remain and the media generally is our biggest challenge. We can but hope that swings in our favour.

FINAL THOUGHTS

59% of Property118 Landlords voted Brexit according to our poll. One million more people in the UK voted to leave than stay. The Country has spoken. We must now unite and focus on opportunities.

The time is also right for landlords and letting agents to unite to positively influence our collective future.

FIGHTING FOR LANDLORDS & LETTING AGENTS



Comments

Neil Patterson

11:07 AM, 24th June 2016
About 2 years ago

Now the decision is what it is, a small correction in Sterling that does not unduly affect inflation, is not necessarily a bad thing for our current account deficit longer term. The Pound has been kept strong due to the poor performance of the Euro in turn artificially keeping the German currency high compared to its trade balance.

Romain Garcin

11:15 AM, 24th June 2016
About 2 years ago

Throughout the campaign Boris Johnson kept repeating nonsense on economic matters (on all matters, actually).
If he does become PM I do hope that he will surround himself with serious people (not holding my breath).

The very issue before us is that we do not know how things are going to pan out, and that uncertainty may continue for years.
This is pretty bad for all long term investment decisions.

Chris Haworth

11:48 AM, 24th June 2016
About 2 years ago

"The UK is now in a strong position to control immigration. We can welcome workers and discourage benefit claimants." - no it isn't, unless we decide we do not want to trade with the EU. Norway, which is not a member of the EU, had to sign up to free movement, to enable it to trade with the EU.

Monty Bodkin

12:21 PM, 24th June 2016
About 2 years ago

Reply to the comment left by "Romain Garcin" at "24/06/2016 - 11:15":

"The very issue before us is that we do not know how things are going to pan out, and that uncertainty may continue for years."

Agree with that.
Uncertainty is good for existing landlords in a hold position. High demand, low voids, increased rents. Immigration and population increase look set to remain the same in the medium term.
Half a million population increase last year.
Osborne's anti landlord policies now look even dafter, expect to see some reversals from his replacement.

Badger

12:37 PM, 24th June 2016
About 2 years ago

"I do not approve of the ‘doom and gloom’ media approach to the result"

Could this be because the people managing the process are highly likely to have been largely REMAIN voters?

Robert Rivers

13:22 PM, 24th June 2016
About 2 years ago

I have to say, the immigrants that I deal with on a daily basis, are here to work and work all the hours available. They pay their taxes and rent, quite the opposite to many born and bred locals. My landlord experience over the past 10 years, has led me to favour them as tenants, as I get far less hassle from them and absolutely no arrears.

Mark Alexander

13:55 PM, 24th June 2016
About 2 years ago

As the £ and the FTSE continue to recover quickly it is the European stock markets that are feeling the brunt of Brexit.

Once the uncertainty over leadership is resolved I think it is likely that the UK economy will be seen by the world as a far more safe haven than the EU. Could the £ become the second reserve currency?

The more I listen to pro Remain media and politicians talking the angrier I get. They are like spoiled children trying to talk up a UK recession just to prove themselves right and to save face. Bloody idiots.

I didn't vote because I couldn't do so. Before today I couldn't have decided which way to vote even if I had been allowed to do so. Today is another matter!
.

Dr Rosalind Beck

15:20 PM, 24th June 2016
About 2 years ago

It would be good if people could write to Andrea Leadson and encourage her to put herself forward. Apparently she is very much against S24 and could be our greatest champion. She could even be a contender for Chancellor I have heard. I have written to her today and urge others to as well. It can literally take a few minutes yet have a great impact. This is her email address:

andrea.leadsom.mp@parliament.uk

Mark Alexander

15:30 PM, 24th June 2016
About 2 years ago

Hi Ros

Please share the email you sent to her in order to inspire the rest of us..
.

Dr Rosalind Beck

18:16 PM, 24th June 2016
About 2 years ago

I notice that George Osborne is in hiding again. He does that when his awful budgets get pulled apart and he's doing it now, because he knows he's in the firing line. Coward! Come out and face the music, Boyo!

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