Most landlords not deterred from investing after SDLT rise

Who writes this twaddle and what is their agenda? Raising SDLT to 5% is going to make every PRS landlord think twice before investing. Im sick to death of hearing these supposed experts telling me that landlords can take blow after blow and still remain profitable

Reply to the comment left by MPD at 05/11/2024 - 00:28I'm glad I am not the only one who reads stuff like this and thinks the same.
The extra 3% put me off buying as my portfolio is entirely houses in London. An extra 2% on that is just comedy really. Life changing amounts of money by a lot of people's standards, going on stamp duty bills alone.
When I look on houseprices.io in my postcode areas I now see real life sales where people have actually closed out of investments for less than they paid in the last 5 years in nominal terms, let alone real terms. Imagine that if you had paid the stamp plus 5% on top as well.

Also the headline is misleading. From the article..."4% of landlords said they would invest". How is that "most landlords not deterred from investing...."?

I agree I am sick of these ill-considered comments from these supposed experts.

Labour are also increasing SDLT for owner-occupiers.
This makes it more difficult for FTBers and home movers.
Labour claim that there is no housing shortage and that migration isn’t causing a housing problem. Their rationale is…
𝐋𝐞𝐭’𝐬 𝐛𝐞 𝐜𝐥𝐞𝐚𝐫: 𝐭𝐡𝐞𝐫𝐞 𝐢𝐬 𝐧𝐨 𝐬𝐡𝐨𝐫𝐭𝐚𝐠𝐞 𝐨𝐟 𝐚𝐜𝐭𝐮𝐚𝐥 𝐡𝐨𝐮𝐬𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐊. 𝐓𝐡𝐞 𝟐𝟎𝟏𝟏 𝐜𝐞𝐧𝐬𝐮𝐬 𝐬𝐡𝐨𝐰𝐞𝐝 𝐭𝐡𝐚𝐭 𝐨𝐧𝐞-𝐭𝐡𝐢𝐫𝐝 𝐨𝐟 𝐭𝐡𝐞 𝐛𝐞𝐝𝐫𝐨𝐨𝐦𝐬 𝐨𝐧 𝐭𝐡𝐞 𝐧𝐢𝐠𝐡𝐭 𝐢𝐭 𝐰𝐚𝐬 𝐭𝐚𝐤𝐞𝐧 𝐰𝐞𝐫𝐞 𝐮𝐧𝐨𝐜𝐜𝐮𝐩𝐢𝐞𝐝. 𝐄𝐯𝐞𝐧 𝐢𝐧 𝐋𝐨𝐧𝐝𝐨𝐧, 𝟗𝟐,𝟎𝟎𝟎 𝐛𝐞𝐝𝐫𝐨𝐨𝐦𝐬 𝐰𝐞𝐫𝐞 𝐮𝐧𝐨𝐜𝐜𝐮𝐩𝐢𝐞𝐝 𝐭𝐡𝐚𝐭 𝐧𝐢𝐠𝐡𝐭. 𝐒𝐨 𝐭𝐡𝐞𝐫𝐞’𝐬 𝐧𝐨 𝐬𝐡𝐨𝐫𝐭𝐚𝐠𝐞 𝐨𝐟 𝐚𝐜𝐭𝐮𝐚𝐥 𝐡𝐨𝐦𝐞𝐬. 𝐓𝐡𝐞 𝐢𝐬𝐬𝐮𝐞 𝐢𝐬 𝐰𝐡𝐨 𝐠𝐞𝐭𝐬 𝐭𝐨 𝐨𝐜𝐜𝐮𝐩𝐲 𝐭𝐡𝐞𝐦 -𝐚 𝐩𝐫𝐨𝐛𝐥𝐞𝐦 𝐰𝐡𝐢𝐜𝐡 𝐢𝐬 𝐧𝐨𝐭𝐡𝐢𝐧𝐠 𝐭𝐨 𝐝𝐨 𝐰𝐢𝐭𝐡 𝐦𝐢𝐠𝐫𝐚𝐭𝐢𝐨𝐧.
Idiots.

Reply to the comment left by Cider Drinker at 05/11/2024 - 09:01Yes, utter nonsense. As if a spare room or the bedroom of a child at university or staying overnight elsewhere were somehow "available" for occupation.
The report you cite: https://labourhub.org.uk/2024/05/25/on-the-doorstep-migration-and-the-housing-shortage/#:~:text=Let's%20be%20clear%3A%20there%20is,no%20shortage%20of%20actual%20homes.
is in favour of immigration and continues with the nonsense:

"Who decides that those homes stay empty or underoccupied? The owners and also the landlords. Between 2004 and 2014, private landlords saw their wealth increase by £434bn and yet they make up only 2% of the population."
Yes, owners do decide who occupies their property. How terrible that private property exists! That property is not all in the hands of the State.
How terrible that people become better off over time. Part of the increase (on paper) is caused by restrictions on new building so that demand for housing increasingly exceeds supply. Labour's policies will make this worse.

Reply to the comment left by Ian Narbeth at 05/11/2024 - 12:01
I’d suggest that private renters have fewer spare bedrooms because they will only want to rent a place that they can afford and need. They don’t need to rent a property with extra bedrooms as they can easily (in normal pre-invasion times) and cheaply move to somewhere bigger when the need materialises.

Owner-occupiers need to buy somewhere that will accommodate a growing family, potentially.

Social Housing tenants take whatever they can and, if they claim benefits, could be hit by the bedroom tax.

It’s not just thick politicians that think this way…

https://www.cih.org/blogs/dispelling-myths-about-migrants-and-housing

I didn’t see my wealth increase between 2004 and 2014. My properties increased in value while gross yields fell.

I did ok but not exceptionally well. And that is the reward for taking a risk and putting time and effort into running a business that provides quality homes to grateful tenants.

How much Social Housing providers or owner occupiers see the wealth increase? Not as much as Blair and Brown, I’d bet.

So the real story hear is that almost half of landlords previously looking to expand their portfolio are now reconsidering.

Reply to the comment left by DPT at 05/11/2024 - 18:31
Our company was considering several offers from a broker to remortgage to expand our BTL portfolio
It’s not just the SDLT increase it’s all the other BS that’s being talked up about selective licensing, EPC standards, CGT, compensation to tenants I want to evict and the S21 and S8 proposals
We have amended all our ASTs to include annual escalation clauses and also telling tenants that any costs levied on our business by either the local council or the government will be passed straight on to them
Fed up with being used like an ATM

Reply to the comment left by MPD at 05/11/2024 - 18:55
M9D. My thoughts exactly.

I’ll also make sure I get my money’s worth if I feel I’m being robbed - which I do.