Summer Budget 2015 – Landlords Reactions

Summer Budget 2015 – Landlords Reactions

14:00 PM, 8th July 2015, About 9 years ago 9619

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Budget 2015 - Landlords Reactions

The concern is;

Budget proposals to “restrict finance cost relief to individual landlords”Summer Budget 2015 - Landlords Reactions

To calculate the impact of this policy on your personal finances download this software


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MoodyMolls

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17:08 PM, 24th November 2015, About 9 years ago

Reply to the comment left by "Gareth Wilson" at "24/11/2015 - 00:53":

Hi Gareth

Good suggestion maybe 38 degrees could do something along these lines

MoodyMolls

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17:14 PM, 24th November 2015, About 9 years ago

Just spoke with a tenant who has gone over to UC, hes had no money for seven weeks and is at food banks. Hence no rent paid, he has tried phoning but his credit goes before anyone answers.

he went to the council they said they couldnt help.

Spoke with one of the Mortgage lenders today and they said many landlords had been phoning regarding the second income that mortgage interest had now become.

Gareth Wilson

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17:29 PM, 24th November 2015, About 9 years ago

Reply to the comment left by "Saeef Khan" at "24/11/2015 - 12:57":

I was rubbing my hands together and smiling excitedly in the manner of Derrick Trotter.

Gareth Wilson

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17:29 PM, 24th November 2015, About 9 years ago

Reply to the comment left by "Saeef Khan" at "24/11/2015 - 12:57":

I was rubbing my hands together and smiling excitedly in the manner of Derrick Trotter.

Gareth Wilson

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20:41 PM, 24th November 2015, About 9 years ago

On the Open Letter to Campbell Robb thread some people were saying that they would be keen to contribute towards a legal action to stop the imposition of Clause 24.

On a previous occasion a group of members suggested that they could each contribute £500 to gather the necessary £6000 to pay a barrister to examine the matter. However, a dampener was put on this because the RLA and NLA warned that in the event of a loss the landlords would be liable for the other side's legal costs.

To build a buffer for the event of this outcome, restore confidence in the possibility of such a legal action, and perhaps win the support of the RLA and NLA, what if a donations page was to be setup to take donations of £10 or more towards a Property 118 legal fund? The idea would be that we contribute towards it but also share and publicise it as best we can just like with the petition page before that. i.e. throughout other property forums.

Mark Shine

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21:17 PM, 24th November 2015, About 9 years ago

Reply to the comment left by "Gareth Wilson" at "24/11/2015 - 20:41":

I think C24 definitely warrants a legal opinion from a reputable QC and I would happily contribute to the cost, as I imagine most of the 39k people who signed Ruhal's petition would also. And potentially others who have not signed the petition.

There is no 'other side’s legal costs' in merely obtaining a legal opinion.

NW Landlord

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21:35 PM, 24th November 2015, About 9 years ago

I would 100% contribute and I really do believe it could be illegal taxing invisible income lets get the ball rolling

Mark Alexander - Founder of Property118

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21:53 PM, 24th November 2015, About 9 years ago

Reply to the comment left by "NW Landlord" at "24/11/2015 - 21:35":

I have many barrister friends. They all concur that Government is perfectly within its rights not to accept certain expenses to be offset against tax. An example they gave me is that a business cannot set off entertaining expenses against profit.

Sorry!
.

Gareth Wilson

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22:06 PM, 24th November 2015, About 9 years ago

Just thought I'd copy and paste Robert Mellors comments from a different thread:

"The problem is that most landlords still don’t think it will happen, or if it does then they are unsure how much it will affect them, so nobody is likely to offer to be the volunteer for this. Also, they will not do it unless they can be certain that they have nothing to lose and will be supported through it. Thus, perhaps instead of raising money for the exorbitant barristers fees, we could raise funds to use as a “re-start fund” for any landlord that is willing to be the volunteer for this. Then, and only then, will we be in a position to start raising funds for legal fees.

Just a thought, but as Clause 24 will ultimately affect tenants by forcing homelessness upon them, maybe a case could also be brought by a tenant. (They would get much more sympathy, and may be more likely to get free legal assistance).

In terms of legal fees, there is a “Bar Pro Bono” unit, that offers (mainly junior) barristers free of charge to good causes, so they may be able to help? There could be an up and coming young barrister that wants to make a name for themselves? Then of course there is the possibility of someone taking the case on a no win no fee type arrangement (though I believe the government has tightened the rules on when this can type of arrangement can be used).

If you want to copy this (or any of my other comments) onto a different thread, you are welcome to do so."

Dr Rosalind Beck

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23:05 PM, 24th November 2015, About 9 years ago

Just watching the Press Preview and apparently the Times has a story on the front page about there being an end to 'cheap borrowing.' Anyone care to speculate what that might mean?

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