Scotland’s rent freeze will see landlords ‘remove their properties’

Reply to the comment left by Mr.A at 09/09/2022 - 11:09I’m fairly sure it also applies to other finance costs not just interest, such as a mortgage product fee. Talking of product fees lenders are extracting the proverbial, charging huge amounts now …….Coventry Building Society product fees now on all their BTL deals ……. at £1,999 !!!

Reply to the comment left by Chris Bradley at 06/09/2022 - 15:52
It is quite unbelievable that pitician after politician implement plans they think suits their agenda to keep them popular when every decision they make has a reprecusion that they never consider and simply makes a situation worse. When will they learn that for every action there is a reaction and usually in their case a worse one. I guess when they bring in caps, abandon section 21, and levy more taxes it just means the next generation behind this struggling one will never have their own home, either bought or rented.

They truly all are a bunch of egomanical, self richeous, over opinionated, un-worldly wise w#####s
Rant over 🙂

Reply to the comment left by John McKay at 06/09/2022 - 18:57
agreed John, but energy firms have made Billions and have pockets deep enough to cope, their prices are not "frozen" but capped, A rent cap would allow reasonable rises for those LL who have tenants on well under market value rates or who have property with a historical low to be re rented at the current market value. The real issue is an eviction freeze. No LL wants to evict a good tenant , even those who hit temporary difficulties but non payment of rent , either deliberately or long term without course for regaining possession of your own property is not right. It is poorly thought out in terms of consequences to the market

Think the sell off of PRS in Scotland has begun already ,there are a number of off market companies who specialise in selling portfolios here in Scotland, so they don't appear on the usual portals ie rightmove .
I've received emails from each one offering whole portfolios or individual properties to buy , which were not available last week.
Unfortunately with the way things are , I can't see me or any other sane landlord buying them ,so they will be lost from the rental pool.
Things could get pretty bleak for people looking for accommodation soon ,the public sector don't have any to rent the private sector is being slowly destroyed.
And all Sturgeon and her minions are interested in is how to look good for a photo shoot and try to upstage the UK government.

Reply to the comment left by John McKay at 06/09/2022 - 18:57
No you are plain wring as Robert has said. A freeze is not a cap. A cap wouldn't be quite as bad as a freeze if it was set at the current market rate for the area. Freeze is the terminology bring used in this report meaning that if you are currently letting at well under the rate for your type of property you will be stuffed. I can see why they want FREEZE because its so much easier to implement and it will stop everyone raising their rents to the cap level which is what all the energy suppliers did and took away competition.

This is legally impossible - with 15% inflation this year and the same for next year, it is theft. It's unacceptable. Are we now living in a communist country, has my livelihood and savings now been nationalised by the government ? Why not freeze mortgage payments then and get the banks angry at you idiotic SNP person with no brains at all ! This is on top of the UK government printing money that does not exist during covid, spending 60bn on track and trace which does not work and is not necessary, covid loan fraud of 45 bn by rish sunak, crippling the economy by not adopting normality like Sweden did (where less people died - as they prescribed vitamin D and vitamin D cannot get absorbed by fat people we have so much in the UK, but I digress) - and landlords got zero support and are dealing with "courts" that take many years to then give a guardian/shelter verdict siding with the poor tenant as usual. I am already running a loss on my HMOs as bills are included and I have not raised rents. The logical thing for me to do is give notice to all my tenants before freezes blow over to England and rent reform rules become law. This is not just the straw that broke the camel's back, this is illegal and will cause anarchy. I fear every landlord in scotland will pick up a stone and throw it at a government office. The government should have built enough housing they have failed for decades already - and meanwhile 800 people per day flood in on rubber boats and the government is impotent. And we all keep paying tax !!!!!!!

So the big plan seems to be that the government wants big corporates to buy from little landlords they force into selling up. Thos big corporates will have the very same issues and the same costs, probably higher costs actually, but being big like banks and energy companies - the government won't dare to touch them as they can afford lawyers and lobbyists and bribes to the government. Time to emigrate

Bit unfair on the SNP as they HAVE been buying houses. Abroad!! 9 Embassies that they don't currently [and hopefully never will] need.

Why is there not a Stronger more robust Landlord representation, lobby, in Scotland and the UK?
The current bodies that be come out with wishy washy statements which most people do not understand the councils and government just ignore them , likes of Shelter and living rent are making policy which affects landlords,
its like the Landlord’s of the UK have no say in their own businesses and livelihoods.
Things must change or there will not be a Prs left in a few years .

Small Landlords have no power to influence whether through representative groups or individually because there is no effective way to have a landlord strike; there for no threat behind anything we say.

unless you count exiting the market which we can’t practically do en masse next Tuesday and the govts want us to exit anyway (regardless of consequences).