Summer Budget 2015 – Landlords Reactions

Reply to the comment left by "money manager" at "29/12/2015 - 07:04":

Take care not to feed the trolls, esp because their own forum has fallen over. Not to say valid critism, whilst getting no likes, is not appreciated, but same arguments as every guardian or Salisbury J article provokes.

Seems Gauky who will doubtless be after Alice's job when he goes for Cameron's shoes, but comment on R4 today a backer is pushing for Boris to be boss not Alice, and if Corbyn is replaced they could have a real fight.......

Gauky in his 28/12/15, consult is still equating second homes with BTL.

I don't see any comparison, 2nd H is an indulgence, (in almost every case), BTL fulfills a massive social need. True it must not get out of hand, or as Carney warns could eventually be destabilising. 15-25% is about right(?), and if at 21% now is the time to kerb, by mainly limiting future LTVs.

Tax 2nd Hs, they wreck some villages, force out locals, and do society no good overall. Competition in good rental accomodation is the main way to keep rents down and encourage more building, stabilising house prices and rents.

I was watching tv last night on mega yachts. Ex Lord Laidlaw has a £100m yacht, being sold - to buy a bigger one. A non Dom of course. Given £3m to the Conservatives. Yet gave up HoL to NOT pay UK tax.
I won't mention his massive car collection and racing / high life in the uk nor his sex addiction as not relevant.

Now £100m could buy 2000 houses in many towns that could be refurbished and provide decent accomodation. He could still have £1/2bn or more to scrape by on, and that would tend to limit rents in those towns. Why not, perhaps the £3m Tory donation? Why don't the anarchists mention this?

Over £32k raised!

Please can everyone take a sec to like this Facebook page and share a link to it on their own Facebook feeds:

https://www.facebook.com/clause24/

Reply to the comment left by "Chris Byways" at "29/12/2015 - 08:01":

Sorry Chris, I don't understand your point.

Reply to the comment left by "Gareth Wilson" at "29/12/2015 - 10:22":

Done

Reply to the comment left by "money manager" at "28/12/2015 - 03:16":

A view from the other side of the Chanel.

"Yes, that’s not far off our impression, though there are a couple of caveats:

- The notaire (solicitor) charges are high but not ridiculous — the percentages the commenter is most probably thinking of include stamp duty, which the notaire pays for you and includes in their fees. There is also only one set of notaire fees as the same notaire works with both parties (but represents neither — this system is very different from the UK!). The fees are paid by the seller.

- The estate agent fees seem stupid until you consider that the average house price in France is now 50% of the price in the UK. So a 5% French fee is virtually the same as a 2.5% (inc VAT) UK fee on the same house. On the whole, they probably are slightly higher — but it’s not generally significant in absolute terms.

- A much higher percentage of French sales go through private channels, avoiding estate agents, than in the UK. The first step in finding a property is often approaching the village mayor, who will introduce you to locals who might be interested in selling. Our friends did that recently, and it worked out very well, and obviously no fees were paid except to the notaire.

But it’s certainly the case that the market appears to have been structured to avoid speculation. If you buy and live in a house for a good number of years things usually work out the same as in the UK, but buying to let, renovating for sale or switching houses frequently is not the done thing here. That all said, new build is considerably more straightforward, and this is how property developers work: the number of new houses built in France is much higher than the UK, and has been for many years, and most new build is done to order rather than in large estates. Of course, the enormous amount of space here makes all that much easier."

Whilst speculation might have been a value ploy in big cities, many other places (here) have stagnated over the past 10 years, and Merthyr just quoted as just fallen 4.1%

I thought it might be illuminating to raise these points.

Reply to the comment left by "Chris Byways" at "29/12/2015 - 08:24":

Well, it's often portrayed that way. But what about university housing? Many, many parents have opted to buy a house for their offspring to live in, perhaps with other friends, instead of renting from one of those fiendish landlords although many subsequently keep the property and rent it out, under the new SDLT rules they will be hit. It has always been a possibility to buy in the child's name and bizarely under the new rules not only would they avoid the SDLT supplement but could themselves then buy a home with no adverse consequences. The rules thus enable the very wealthy to purchase a single BTL for cash with no income tax or SDLT consequences?*@!

Reply to the comment left by "money manager" at "29/12/2015 - 11:29":

Sorry if too cryptic, MM.

"Take care not to feed the trolls, esp because their own forum has fallen over. Not to say valid critism, whilst getting no likes, is not appreciated, but same arguments as every guardian or Salisbury J article provokes."

ONE
P111 222, a new 'convert' to the 118 forum seemed to be rehearsing the same arguments trotted out on the polarised, blinkered postings on the other forums. I welcome alternate views, and testing of arguments, that is healthy, but not keen on the idea of replying or feeding trolls. No name. No location, and first post.......? Wonder if HPC is working yet?

"Seems Gauky who will doubtless be after Alice’s job when he goes for Cameron’s shoes, but comment on R4 today a backer is pushing for Boris to be boss not Alice, and if Corbyn is replaced they could have a real fight……."

TWO
Gaulky wrote or had ghosted forward to consultation. He is a hot contender for Chancellors job when vacant. I don't fancy seeing more of those evil looking eyes. But if Boris gets top job, Alice might stay there, (and Gaulky gets another job) ?! or go back to making more millions hanging wallpaper.........

Reply to the comment left by "money manager" at "29/12/2015 - 11:54":

Yes agree, loads of inconsistencies.

History Alice, and Geography Kingman have not thought this through.

Unintended consequences!

Co-habitees can buy one home and one BTL, yet civil partners or married pay extra 3%. Family values? Discrimination?

It may only be £10,000 extra tax for staying unmarried, but fair it ain't.

Btw, it was EMPTY second homes I was saying is wrong, buying for a kid at Uni IS providing a home(s).