Opportunities for Landlords Post Brexit

Opportunities for Landlords Post Brexit

10:58 AM, 24th June 2016, About 9 years ago 14

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Opportinities for Landlords Post Brexit

Opportinities for Landlords Post Brexit

Will we see 0% interest rates in the UK post Brexit?

Is this Independence Day for the UK property sector?

Remember that before we joined the EU the UK still relied on mass immigration of workers. We still need immigration. In the 50’s, 60’s and 70’s these people came from outside the EU. They came to work, they didn’t come to claim benefits. Isn’t that what we want more of?

The UK is now in a strong position to control immigration. We can welcome workers and discourage benefit claimants.

It is likely that Boris Johnson will become our Prime Minister. In his time as Major of London he proved that he has a clear understanding of Economics and how the PRS impacts that. Accordingly, it is likely that he would chose a Chancellor who thinks the same way. Could that be the beginning of the end of the 3% SDLT loading and restrictions on finance cost relief for individual landlords?

EU law will continue to apply until the UK creates new laws. The proposed Judicial Review of legislation placing restrictions on finance cost relief for individual landlords relies on EU state aid law. That law still applies. The law exists to prevent Governments favouring one sector of the market over another. Restrictions on finance cost relief for individual landlords heavily favours corporate structures. On that basis alone, it should be held that it breaches EU state aid law. It is extremely unlikely that Boris would want to change that. If anything, due to his understanding of economy and property he is more likely to reverse the decision before a Judicial Review ever occurs. It would be a superb political move for Boris to do so because he would instantly win the hearts and minds of two million landlords who feel betrayed by George Osborne’s left wing approach to right wing politics.

The initial falls in the value of Sterling and the FTSE were inevitable but look at how quickly they bounced back.

I do not approve of the ‘doom and gloom’ media approach to the result. The people have made their decision and it is up to us all, whichever way we voted, to make the best of the opportunities before us.

There are difficulties in every opportunity and there are opportunities in every difficulty. Where is YOUR focus?

Let’s all concentrate on the opportunities and deal with the REAL challenges and ignore the political drivel standing in our way. In my opinion, the negativity of those who voted Remain and the media generally is our biggest challenge. We can but hope that swings in our favour.

FINAL THOUGHTS

59% of Property118 Landlords voted Brexit according to our poll. One million more people in the UK voted to leave than stay. The Country has spoken. We must now unite and focus on opportunities.

The time is also right for landlords and letting agents to unite to positively influence our collective future.

FIGHTING FOR LANDLORDS & LETTING AGENTS


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Comments

Dr Rosalind Beck

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18:16 PM, 24th June 2016, About 9 years ago

Reply to the comment left by "Mark Alexander" at "24/06/2016 - 15:30":

Okay. Here it is (with my address also added at the top as MPs require that):

Dear Andrea.

I am aware that you are one of the few opponents of Osborne's attack on landlords. Recently, as you will know, four Lords came out against 'Section 24' of the Finance Act, and on a personal level I am also trying to sway members of the Shadow Cabinet such as Rob Marris and Teresa Pearce. As landlords who have been campaigning against this since the Summer Budget last year, we are hoping that the opposition to it is beginning to grow.

With this in mind, are you able to provide us with a quote on how you oppose it which we can then use publicly? This is something which Professor Philip Booth of the Institute of Economic Affairs has done for me twice now and these statements are most helpful.

I am also hoping that you put yourself forward to take a lead role now in the negotiation of Brexit and hopefully you can oust George Osborne and take his place!

For you information, here is an article I wrote on the theme recently:

https://www.property118.com/treasurys-war-on-private-rental-sector-based-on-ignorance-of-housing-market/87801/

Yours sincerely

Dr Rosalind Beck
Property118 landlords group.

Property Wannabee

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9:03 AM, 25th June 2016, About 9 years ago

"It is likely that Boris Johnson will become our Prime Minister. In his time as Major of London he proved that he has a clear understanding of Economics"

The truth could not be more opposite. He steers away from talking about economics because he doesn't have a clue relying on his usual fallbacks of a latin quip or a tale of the ancient king of mongolias approach to housing benefit.

Piers Calascione

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8:34 AM, 28th June 2016, About 9 years ago

I am surprised at the stance you take Mark, given your decision to become a resident of an EU country. Or is it that YOUR free movement is assured given your robust financial position? What if the tables turned for whatever reason? Perhaps your businesses fail due to the downturn caused by Brexit & you find yourself in need of state support while in Malta? You're now caught up in a pan European climate of xenophobia, all whipped up through a chain reaction coming out of Brexit. How would you now feel being yourself labelled a migrant scrounger?

The reason why there is such turmoil has been well documented. The result we all face having to live with was achieved by lying. The power brokers responsible should be facing charges of fraud not positions of further power. This madness must be stopped.

Mark Alexander - Founder of Property118

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19:13 PM, 28th June 2016, About 9 years ago

Reply to the comment left by "Piers Calascione" at "28/06/2016 - 08:34":

I am confident the UK will fare well in the long term.
.

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