Mayor of West Yorkshire blasts landlords for raising rents

At £50,000 per retrofit, multiplied by the remaining 680,000 homes still to be done. £34 billion. Time to setup up a retrofit business!

Mayors who live in glass houses shouldn't throw stones
email her tell you what you think of her policies
mayoral.enquiries@westyorks-ca.gov.uk

Reply to the comment left by Laurie at 07/10/2023 - 18:36
Hi Laurie just googled it as I thought your figure was a bit light , there are over 26 million homes in the uk ! It would take at least 50 years to make all the crap needed to shut the eco zealots up impossible

She had shown herself to be ignorant and bigoted!
We at subsidising our portfolio. We could have increased our rents more but at trying to look after good tenants.

The problem is politicians make every increasing demands on landlords and more punitive taxation, (income tax, CGT, Stamp Duty), plus charging Council Tax immediately on properties that are between tenants. Add in increasing mortgage rates and Landlords are struggling to balance the books.
It is a moronic comment from a parasitical politician.

I know quite a few unemployed couples claiming benefits. They won’t give up their own homes just in case things don’t work out (why should they, they’re not paying for them).

Even when things do work out, they keep both houses, receive two lots of ‘cost of living’ payments, two lots of winter heating allowance and let friends stay in the house that they don’t need.

I also know people who have two brand new cars under mobility (one for them and one for their unemployed kids) and people who foster their grandchildren because adopting them would cut their payments.

The benefits system is screwing the taxpayer.

Reply to the comment left by Bryan Abercrombie at 07/10/2023 - 11:05
As Margaret Thatcher once said "Socialism is great until you run out of other people's money"

Please don’t be offended by the comments from this electorate, mayor, most elected I spent years trying to educate the local council elected members, and I can assure you if banning the colour blue would gain votes. They would ban it that is there only concern not whether that’s right or wrong just votes on seats basically so don’t be annoyed or offended by comments from people that all of they’re interested in is the votes

Reply to the comment left by Simon Orr at 07/10/2023 - 19:35
In the article, mentioned 680,000 in West Yorkshire alone. If they attempt to upgrade all properties in the UK like this, unless over a very long time period, Materials and labour costs will go through the roof (pun intended). No cost benefit analysis done, this is beyond insane, you wouldn’t think the UK had trillions in debt, with interest on the debt alone heading to a 100 billion a year. Unsustainable, yet they spend these huge amounts with no accountability.

Might as well 'slam' Tesco for putting up food prices.

Reply to the comment left by Martin Roberts at 08/10/2023 - 16:29
Yep!

I was speaking to a family member yesterday who is neither landlord nor tenant ( I think live in their home mortgage free (they suggested that landlords should not be aloud to increase rents as many have fixed int rate mortgages)

I did suggest that it’s a business and we have multiple rules to obey and take multiple risks and many landlords are in the hands of the mortgage lender re varying
% LTV and landlord’s experience of running a successful business will affect the amount and they might lend and the rate if interest they charge on their mortgages and their ever increasing fixed fees a nd brokers costs.
My worry/concern is when my 75% LTV fixed rate rental mortgage expires in 18 months will I be able to 1/. Roll the existing mortgage and 2/. Can I afford the interest 3/ what do I. Ref to do to be in a position to satisfy the lenders affordability checks? 4/ does this mean I might have to prove I have increased rent in line with current costs every year so I am ahead of the game and prove my business is foreword thinking?

Has anyone had recent push backs from their mortgage lender they are prepared to share with us?

To help me
Has anyone got a fair calculation of the true capital costs to a landlord with a single rental?
Say on a residential property costing £300,000 and 2 bed en-suite with car parking for 1 car plus a garage, owned in a personal name.
To include cost of 25% or 40% LTV based on lenders surveyors current valuation in a falling property market.
Plus purchase costs SDLT costs
Refit costs DIY, fire checks gas checks electrical checks white good insurance costs
Your time and out of pocket expenses and travel costs
Fees to find a tenant
ECP
Landlord insurance and rent gtd cover
Cost of Utilities between buying and receiving 1 st monthly rent
Agents finders fees and incidentals.
Preparing AST credit checks

And
Mortgage fees surveys legal and interest rates and the 20% tax credit relief!

What assumptions can one fairly make to the cost of one’s equity and all out of pocket exps?