Should I sell or risk tenants buying at undervalue price?

by Readers Question

9:08 AM, 25th September 2019
About 3 weeks ago

Should I sell or risk tenants buying at undervalue price?

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Should I sell or risk tenants buying at undervalue price?

Should I sell? What Solutions are there for this Dilemma? I Realise that Nothing has happened YET! But I just want to be clear about what my options are.

Who thought George Osborne would have removed Mortgage Interest Relief! / Removal of Section 21! + ALL the other Rules and Regulations they are Hitting us with.

I have Good Tenants who have been with me for 10 years and I would not sell, but for this dilemma. John McDonnell wants to “tackle the burgeoning buy-to-let market”. He suggested to the Financial Times that they could pay less than market value, …. meaning that the profit we would have made by it increasing in value over the years could be wiped out by an undervalue sale price!

Joey

 



Comments

Neil Patterson

9:11 AM, 25th September 2019
About 3 weeks ago

That is a big if for Labour forming a majority government and then I am sure the law of property ownership would be fought through the courts.

The Forever Tenant

10:39 AM, 25th September 2019
About 3 weeks ago

Who knows what will actually happen no matter whoever gets in. One thing I wonder is if the government would offer a similar service like Help to buy, but where instead of loaning a FTB 20% of the value, they straight up give the tenant 20% of the house value as the deposit on a mortgage. This way the house owner receives 100% of the house value.

I don't see many tenants being in a position to purchase a property without that massive cash boost. If they were to do such a thing then the result would be increased house prices across the board.

Unfortunately at this stage we have very little information about how this scheme would work, what discounts would be offered or who would lose out. All we have is speculation.

Rob Crawford

12:09 PM, 25th September 2019
About 3 weeks ago

I wonder if such a scheme was proposed how the valuation of the property would be determined? The owner of a property will always make sure the property looks it's best on the day of the valuation. I suspect a tenant who intends to buy will plan the opposite!

Rob Crawford

12:10 PM, 25th September 2019
About 3 weeks ago

Reply to the comment left by The Forever Tenant at 25/09/2019 - 10:39
"or who would lose out", well lets take a guess!!

Sam

7:10 AM, 26th September 2019
About 3 weeks ago

What would be the impact on HMOs? Will labour want us to sell room by room ? 😀

For now, let’s ensure Labour does not come into power!

Whiteskifreak Surrey

7:50 AM, 26th September 2019
About 3 weeks ago

Reply to the comment left by Sam at 26/09/2019 - 07:10
Very well said, Sam - all Landlords will have absolutely ensure (and spread the word too to their families and friends) that Labour is nowhere near the No. 10, even in coalition. Personally I am not sure if Jeremy Commie Corbynov can achieve that, but who I worry is that Rebecca Long-Bailey. She is 40 years old and completely brainwashed with Marxism/communism etc. She will be able to get younger voters across to Labour.
Saying that I am sure that those who read this forum regularly know how much I hate Brexit. Nevertheless when the time comes I might have to be FORCED to vote either Tories or Brexit Party (both of them I deeply despise) only to keep the Labour out of office... I think Labour is a much greater danger that Brexit and will ruin this country much more.

Alan Bromley

8:47 AM, 26th September 2019
About 3 weeks ago

It's just one of the pottier policies that Labour are tossing around under Corbyn (like doing a raid on private schools and setting up a drug company). Partial confiscation of someone's personal investments (which is what this would effectively be) would fall under human rights legislation and they would have a fight on their hands, even where landlords have incorporated.

Realistically, the chances of Labour getting into power with an overall majority are nil. When he fails at the next election he will probably be tossed out by the party as there are already mutterings about this. Hopefully, it will swing back to the centre ground. Don't panic Mr Mainwaring!

Dennis Leverett

8:55 AM, 26th September 2019
About 3 weeks ago

Reply to the comment left by Whiteskifreak Surrey at 26/09/2019 - 07:50
I think your comment is very interesting as a remainer and many people I know feel the same. The Attorney General is correct, this Parliament is a "dead Parliament", problem is so will every other one be until Brexit is over and done with. I've voted Conservative all my voting life but won't be this time for many reasons, the main one being it will let Mr Commie Corbyn in. The next election will result in yet another hung Parliament with the Brexit Party and Lib Dems holding the balance of power and what a disaster that will be. I want Brexit with no deal and I want it now, please don't throw stones at me but I kinda like Boris, he's trying to break this deadlock by whatever it takes. Why can't you remainers accept what the majority of people want and stop using money and power to get what you want. Locally Brexit appears to be getting stronger with some previous remainers now saying they want out because of how the people of this country are being trodden down by those at the top here and Europe.

Whiteskifreak Surrey

9:04 AM, 26th September 2019
About 3 weeks ago

Reply to the comment left by Dennis Leverett at 26/09/2019 - 08:55
This forum is not to discuss the politics, so I will simply ignore that semi-personal attack on me.

William Spence

9:37 AM, 26th September 2019
About 3 weeks ago

My wife and I are looking out now for a lovely house to rent to move into then trash at the right time and then buy at a discount and sell on at a cracking profit. Anybody got a quality 3 bed detached for rent?

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