Summer Budget 2015 – Landlords Reactions

This may be a crucial read!

http://www.landlordzone.co.uk/landlordzone-update/is-the-buy-to-let-boom-over-2#rm
Follow it through and check out Ranjan Bhattacharya says in his report on the Summer Budget 2015 “The Property Investors’ Survival Guide”

He is the first of the Gurus to disseminate freely helpful information and he totally appears to get it. I will report back when I have read it.

I have downloaded the report and will sift through.

Reply to the comment left by "KATHY MILLER" at "03/10/2015 - 14:17":

"I believe Ian Duncan Smith should be hung and quartered, did you see him jumping up and down when the cuts were announced.?"

Strangled by hanging but released while still alive, emasculated, eviscerated and his bowels burnt before him, beheaded, then cut into four parts.

Too gentle for him!

It seems impressive. Any views on primary motive?

Reply to the comment left by "KATHY MILLER" at "03/10/2015 - 13:13":

Hi Kathy.
I just wrote a long letter to her, pointing out the error of her ways. She's an economist who thinks clause 24 is good. I had to send it care of the Guardian, so I hope she gets it. She did make a good point though, suggesting using:

'the council tax property revaluation to introduce capital gains tax on future house price rises.'

That would at least mean a level playing field and would bring the Government a fortune in. Obviously instead of Clause 24 rather than in addition to.

I've also written today to various journalists at; The Telegraph, the Daily Mail, The Times, The Express and the Mirror. As I keep saying, it's a process of attrition.

Reply to the comment left by "David Price" at "03/10/2015 - 15:05":

Hi David

I would really love to see Mr Duncan Smith and George Osbourne's tax returns after all we know George made over £500,000.00 selling his constituent home which was funded by MP expenses and his family business was involved in a £6 million pound deal through a tax haven talk about poacher come game keeper

I have just had a thought the government own ukar which holds a massive stock of buy to let mortgages of portfolio landlords. If they make it unaffordable to private landlords repossessions are inevitable due to a lot of that stock in neg equity I know cause I have some as most of u probably do. The government could take control of these houses as they effectively own them thus becoming the landlord and cutting out the private landlord. They already have a company managing repossessed stock now this could be the explanation as to why they are sabotaging the PRS to cut us out and become a social landlord it would make sense wouldn't it and would get support from general public due to negative press we get

Reply to the comment left by "Steven O'Neill" at "03/10/2015 - 15:18":

Does anyone know how many mortgages are outstanding with UKAR?

Reply to the comment left by "Ros ." at "03/10/2015 - 15:51":

The mortgage book is about 37bn from mortgage express its huge and with interest rates going knowwhere fast it's the next best way of taking control

Reply to the comment left by "Mark Brown" at "03/10/2015 - 13:05":

You say 'It will effect everyone! EVERYONE'

Whilst it is true that everyone involved in the PRS is likely to be affected by Clause 24 to some degree, many LLs might be positively affected by it. Including some on this very website I would imagine, dare I say it.

According to the govts stats the majority of rental properties are unencumbered (ie no mortgage). There's also the corporate brigade from one man bands with a few properties who set up ltds to the institutions who are looking to get more involved in the PRS.

Anyone in the above paragraph, certainly the less scrupulous of them may actually positively welcome and support Clause 24 due to the upward pressure on rental values and future buying opportunities that may arise as a direct result.

Not many will be positively affected 200 billion in lending that's a lot of property and landlords with no borrowing will just stay the same and I can't see that most property is unencumbered myself would like to see the stats