Summer Budget 2015 – Landlords Reactions

Reply to the comment left by "KATHY MILLER" at "09/10/2015 - 20:57":

That article is exactly why we are fighting a loosing battle no facts whatsoever and bashing hard working landlords as usual they have no idea these people just an easy target it makes me so angry a lot of tenants like short contracts would a tenant like to give four years notice if they decided to relocate or move in with a partner what a joke

I think you are right, we will see a couple of 'mega' corporate LLs appear in the UK sometime.

Your analogy of the supermarket vs corner shop is a good one.

But let's remember, even in towns where there are Tesco, Asda, JS, Morrisons, Waitress, Aldi & Lidl, there are thriving independents. They are rare, but they are there.

And witness the back lash against, especially, Tesco these days.

I think the evolution of markets gets quicker. So, what took 30 years in supermarkets might only take 5 or 10 in residential rented property.

But, in the new world, to survive (imo) will need individual LLs to offer something different that tenants want: price, service, quality, location. To beat a mega corporate, you need to be better than it is in at least one of those 4 things....

Reply to the comment left by "Jon Pipllman" at "10/10/2015 - 09:01":

The supermarket vs corner shop analogy would be more comparable to what they seem to be trying to do to the PRS, if HMT were proposing to restrict ‘finance relief’ for the small cornerhop but not the supermarkets?

Supermarkets borrow a lot… http://www.tescoplc.com/index.asp?pageid=267

Reply to the comment left by "Jon Pipllman" at "09/10/2015 - 21:10":

i dont think they will be big houses like these

Reply to the comment left by "Dislexic Landlord" at "10/10/2015 - 08:38":

Very informative. I particularly enjoyed listening to John and Vanessa.

It is refreshing to see that, one of them claimed that, this is not going to be death of BTL.

the analogy is sound (apart from the comparison to the well known supermarket waitress)

on lending, the same outcome is partly achieved by different mechanisms

supermarkets can borrow more cheaply than corner shops (generally speaking) via the stockmarket, by issuing bonds or even normal bank lending that doesn't need to be secured on the Directors / owners house.

A corner shop owner wanting to borrow anything significant would likely need a PG and security over and above the business before a lender would even consider it

Reply to the comment left by "Laura Delow" at "09/10/2015 - 09:43":

Laura, thanks for your endorsement.

I think if NLA and RLA wrote to all their members, which I believe combined figure of their members stands at around 100000 members and only 1/3rd of them which equates to shy of 34000 decide to donate £50 each, this could be way forward.

This will bring over 1.6 million £'s and I believe, High Court Judges operate where common sense prevails and if our advocates dwelled on to the fact, that, we are taxed on Turnover rather than profit and we are treated differently from LTD companies whilst operating same business, then I believe we are to win this argument in Court.

I'm not sure, why RLA nor NLA have NOT thought of this strategy?

That is a great idea mate I would be willing to contribute to that and all of my business partners who are landlords maybe it could be illegal what they are doing as you are being taxed on costs not profit so in effect you are paying tax on money u have never had the more you look at it the crazier it sounds

Reply to the comment left by "Steven O'Neill" at "10/10/2015 - 11:34":

Steven, it might be a great idea..but to convince majority could be an uphill struggle. I think, some of us should write to both NLA and RLA and ask them if this could be circulated to memebers.

There should be a link on their websites, where, whether you are member or not you could make your £50 donation.

Alternatively, we could have a dialogue with Richard Dyson for Telegraph and see, if he would be willing to write an article and we can set up a link on property118 where people could donate.

Aforementioned figure of 1.6 Million £'s should pay for detailed assessment, Thorough Research, Expert Witness Reports, Barristers Fees and all relevant costs.