Summer Budget 2015 – Landlords Reactions

John Heron, managing director of Paragon Mortgages, said: “A common accusation levelled at buy-to-let landlords is that they have an unfair advantage over home-buyers. The data released today would suggest this is not the case, with buy-to-let purchases making up only 11.6% of all purchases. First-time buyers accounted for three times as many transactions as buy-to-let purchasers.

https://www.landlordtoday.co.uk/breaking-news/2016/2/first-time-buyers-outnumber-landlords-three-to-one

Reply to the comment left by "Gareth Wilson" at "18/02/2016 - 19:00":

This isn't going to be very well received, but I'm less aggrieved at the SDLT than the Tenant Tax.

The new SDLT is of course ill thought out and badly planned as it will hit a wider target than supposedly intended, but if I'm going to have to take a hit, then I'd rather it be something I have to consider in advance of a purchase than retrospectively.

The SDLT changes may make some deals unviable, but that could then mean it addresses some of the BoE concerns over excessive risk in the BTL sector.

"UK house prices: If only the buy to let surcharge was an April Fool's Joke - instead, it's an attack on entrepreneurial Britain"

http://www.cityam.com/234928/uk-house-prices-if-only-the-buy-to-let-surcharge-was-an-april-fools-joke-instead-its-an-attack-on-entrepreneurial-britain

Benefit FTBs?
Removing an inequality?
Attack on enterprise?
or
Buying votes from millions of Generation Renters?
Or raising tax revenue? (As claimed, to help FTBers)

but does not provide a meaningful number of new homes. Nor anymore Re-furbs.

ALL THIS DOES IS SKEW THE BALANCE from RENTERS - professionals wanting to rent, and the vulnerable, and the low paid who have no chance of a mortgage, the mobility of labour etc.............. TOWARDS younger aspiring home owners.

Ever heard of the old game of Musical Chairs?

All this at great complication of an already complex tax system, loopholes for the clever lawyers to exploit, and unintended victims caught - called collateral damage.

Will it stop rioting by Anorchists? Go figure that one! (They were never going to buy anyway!)

Here is an article about buy to let influencers in 2016. These are people we can be writing to about Clause 24. There are a few familiar names on the list but a few new ones to me.

http://www.landlordzone.co.uk/news/buy-to-let-influencers-2016

Reply to the comment left by "BTL INVESTOR SCOTLAND" at "19/02/2016 - 08:14":

Hi BTL. I'm not too sure about this list - except Mark and a few others of course, notably Richard Dyson. Since Clause 24 has been the biggest issue for us and I don't remember most of those on the list doing much if anything about it, I think we could compile our own list or certainly greatly adapt that one. And of course there are many people with far more influence over this issue - people like Mark Carney! It's one thing to have a 'profile' amongst other landlords and the public (like Beeny), but quite another to be influential upwards.

And actually, I think Alan Ward and Richard Lambert should be there because they have been busy lobbying on other issues; issues which usually we would see as very important if it hadn't been for C24 overshadowing everything else.

Reply to the comment left by "BTL INVESTOR SCOTLAND" at "19/02/2016 - 08:14":

It's an indictment of the major Landlord Associations failure to act that no-one from them made the cut.

Looking back: election manifestos excerpt - where does it mention Tenant tax?
Vindictive SDLT?
Discrimination to unincorporated PRS?

Conservatives:
Little mention of the PRS per se, as their approach, with the exception perhaps of the measures recently passed in the Deregulation Bill 2015, is largely voluntary improvements and codes of practice. They are supporting all house-building including social, owner occupation and private renting. Post-election the Conservatives intend to: Build 100,000 new homes A 20% discount for first time buyers under 40, which must be repaid if the home is sold within five years. Extend the equity loan part of Help to Buy until 2020 in relation to new-build homes A new Help to Buy ISA to help first-time buyers build their deposit by 25% up to a maximum Government contribution of £3,000 Benefit cap to be cut to £23,000 No housing benefit for 18 to 21 year olds Right to Rent immigration checks rolled out nationally Universal Credit rolled out nationally, combining 6 benefits into one monthly payment direct to tenants.

Read more at: http://www.landlordzone.co.uk/news/how-do-the-parties-compare-on-housing-the-prs
Copyright © LandlordZONE® - Follow us on Twitter @LandlordZONE

The Libs had SOME good ideas
the Lib Dems have proposed a Help-to-Rent scheme they say will assist young people aged 18 to 30 move from their family home into rented accommodation. The scheme offers people in this age bracket up to £1,500 as a loan from government to use as a deposit on a rental property, whilst those renters in the capital would be extended up to £2,000. Qualifying tenants would have to be in paid employment and be in a position to pay off the loan in either a 12 or 24 month period. The Lib Dems claim this would be good for both young tenants and buy-to-let landlords alike. Announcing the scheme, Deputy Prime Minister Nick Clegg said: “You’ve got this generation that is sometimes called ‘the clipped wing generation’, or ‘the boomerang generation’, of an increasingly large numbers of youngsters who simply can’t find the money needed for a deposit to rent a flat or home of their own“ The Deputy Prime Minister thinks the Help-to-Rent scheme would significantly remove the financial barriers affecting this age group from securing their own rented accommodation and insisted that young people being stuck in a family home is having a negative effect on the property market. Rents in the private rented sector (PRS) have been increasing pushing up the amount of required deposits. The cost of paying back the loan, the Lib Dems say, will depend on the cost of government borrowing, which is currently around 2.5 per cent.

Read more at: http://www.landlordzone.co.uk/news/lib-dems-propose-help-to-rent-scheme
Copyright © LandlordZONE® - Follow us on Twitter @LandlordZONE

Reply to the comment left by "Chris Byways" at "19/02/2016 - 09:26":

Benefit FTBs?
Removing an inequality?
Attack on enterprise?
or
Buying votes from millions of Generation Renters?
Or raising tax revenue?
Looking back: election manifestos excerpt – where does it mention Tenant tax?
Vindictive SDLT?
Discrimination to unincorporated PRS?

a political game player? a cheater?
Totally an arrogant! extremely disappointed

Reply to the comment left by "Barry Fitzpatrick" at "19/02/2016 - 09:26":

Sadly all too true Barry.