Summer Budget 2015 – Landlords Reactions

I have a few really nice flats some new build some converted Victorian flats that are huge high quality and always full.

The amount of tenants that ask if I have any houses with a garden is massive. What I'm getting at is I believe these small purpose built developments will be a stepping stone to upgrade to larger properties without a doubt the turnaround will be massive and I gaurentee we will all get calls from people wanting to leave these places for more traditional accommodation these developements will be popular in large cities amongst young people wanting flexibility

We should not be discouraging people saving into a pension and if tax relief encourages that then there should be no issue with that. Perhaps the higher rate part should be reviewed.
However, clause 24 is completely wrong on many fronts. The banks get taxed on the interest and also we get taxed on rents without the full costs - it is appalling

Hurray! It's official....on bbc.....GO has dropped pension plan changes. That's the ONLY good thing he has done for me this past year. Let's see if he can see sense on others areas.

Reply to the comment left by "Chris Byways" at "05/03/2016 - 12:15":

Chris. Y Cube does not even start its short life looking pretty. It looks infantile.

And the whole problem being the lack of council. Social and general houses being build/ population expanding faster than housing !!
Anyone who deals with planning will realise how hard, frustrating and expensive it is to try

I read down my way the council were going to build 40 something new flats. When you divided the cost out to the flats it came to a cost of £250k per flat. I only hope the reporting was wrong as that's a staggering amount.

Reply to the comment left by "Steve Wood" at "05/03/2016 - 12:28":

Not so much common sense, but MORE PROOF he (GO) is a lightweight nincompoop that comes up with unworkable ideas until overruled.

BoJo, here's your chance. Again.
If we Brexit DC and GO can't stay.

I never saw the point of the ill conceived pension freedoms allowing the feckless to squander all their funds, and knowing a fair bit would go into BTL. Just to grab the tax as folk withdraw, but live in penury and state handouts later. The release should have been allowed for advised and approved purposes.

http://www.bbc.co.uk/news/uk-35734882. (It's under 2min Ros!)

See the stats: since pre crisis
MORTGAGES DOWN 31%
House prices UP 32%
Equities UP 87%
SAVERS LOST £106bn

Blanchflower thinks interest rates low until 2021, and next move may be down.

So WHY DO WE NEED HTB to push house prices up, and decimate renters prospects? (Hint: those that don't need to work in London should consider 'financially cleansing' themselves and buy out side the SE)

Reply to the comment left by "Steve Wood" at "05/03/2016 - 13:11":

Well, it's not their money they're spending, so I wouldn't be surprised if that were the cost. Down my way they flogged off land for a few million and a year later it was valued at 30 million because it's being built on... and the incompetent people who did this are still in a job. I thought that kind of crap only happened in 'corrupt' countries.

An article from yesterday’s online media - http://www.24dash.com/news/housing/2016-03-04-Opinion-Buy-to-Let-needs-level-playing-field which included:

‘If the aim of the government is to reduce the number of buy to let properties, particularly in high value areas such as London, and therefore increase the supply of housing, this CGT disincentive could be lifted to encourage those who wish to exit the buy-to-let market to do so. This could be in the form of a temporary holiday from, or reduction in, CGT. The temporary nature of the relief is to counteract the danger of a permanent reduction creating an incentive for speculative investment in the buy-to-let market.’

I would prefer Osborne not to tax me out of my business (@ HPC goons who are still copy/pasting/’critiquing’ this forums posts, yes I said ‘BUSINESS’, in fact a 24-7-365 one), but IF GO is and his institutional LL buddies are going to try and do so, and IF we assume for a minute that he actually genuinely believes his own ‘level the playing field’ rhetorical spin…. then to make it plausible the very least he should consider offering me (and others) a CGT/SDLT incentive on the basis that I:
- Either close my business and sell to Owner Occupiers
- Or, incorporate

* There’s only one comment below the article, from someone claiming to be a wealthy landlord. It speaks for itself:

‘Evil Landlord • a day ago
At last someone who understands, If Osborne wants me to sell my Buy to lets, I would happily do so, however the costs associated with selling is to great to allow me to even consider this therefore all my cash is stuck in Buy to Let at the
moment. I don’t have mortgages on the properties so I am not impacted by interest rates or at risk of taking losses with the new tax. With the inevitable reduction in competition as those that can’t afford to stay in the buy to let market leave the reduced supply in rental accommodation will increase competition between tenants and I will put my rents up. Therefore Osborn is giving me even more motivation to stay in the Market as will all others in my position. It’s the Tenants who will suffer.’

"Why did Osborne save your pension? To save his own skin (but I'm sorry, says one fiesty Tory - it's too late for posh boy George to lead our party now)"

http://www.dailymail.co.uk/debate/article-3478680/NADINE-DORRIES-did-Osborne-save-pension-save-skin-m-sorry-says-one-fiesty-Tory-s-late-posh-boy-George-lead-party-now.html

"Infamy! Infamy! They've all got it in for me!"