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Posts posted by blackhole


    Not really. Think who the law actually impacts - those with personal BTL assets, not held in a corporate shell, with large mortgages and higher rate taxpayers.

    The point here is Air BnB as a model becomes much less attractive if HMRC enforce collection, especially retrospectively and with fines.   That's regardless of the operating model beneath.

    Part of the attraction of BTL in the first place is the low / no taxation element.  I suspect that's the same with Air BnB.


    You have to delve into how much leverage is there.

    If none, S24 makes no difference so thats a whole chunk still profitable.

    If you bought pre 2000 tiny mortgage, interest rates are 2-3% even for BTL.. tax allowance, who cares frankly.

    Commercial large scale landlords will all have a company structure.. so again no change for them.


    So you are left asking - whats the % of the market that is in personal name i.e small scale and highly leveraged. Then whats the margin on that sub section and if S24 pushes them into a loss. Would suggest not a huge chunk.

    As for this Air B an B stuff.. hopefully it ends the ruse of someone renting a large property say 5 bed on an AST, then Air B and B ing it or renting the rooms out separately. 

    With all due, your attempting to paint this as "little effect, move along here" once again.  But does anyone actually have facts to prove this or otherwise in the UK?  I guess not....


    BTL can be / still is, profitable for many despite the recent tax changes. less so for some but to suggest its game over is removed from reality.


    Coming back to the Air BnB issue, I wonder how much BTL would still remain profitable with s24 + declaring income beyond the £7500 "room to rent" allowance?  


    well landlord declined my offer of half rent to allow viewings. he said he has the right to access the property in the last month of tenancy. i have politely declined, and advised him our right to quite enjoyment takes precedence over any perceived right of access.

    Correct I used this in our last tenancy, quiet peaceful > all.  Nothing they could do.


    It is becoming increasing clear to what all these measures are for and who they are protecting. I now believe furlough etc is there to save the people who the workers pay ie rent, mortgages, businesses, products....not from stopping people starving. 

    Had a chat with someone who I do business with, he's in his late 20s.  Still renting.  Has seen typical homes he'd be interested in double in price in the space of 4-5 years.  He brought this crazy Boris 5% scheme up in conversation, genuinely concerned he'd be priced out forever.

    I didn't even bring it up....


    3. Young people and potential FTBers are going to be the most affected by this recession, they are going to be worrying about how to pay their rent next month, not how to buy a house at 95% LTV.


    Pretty much what was said here by shelter https://www.independent.co.uk/news/uk/politics/boris-johnson-generation-buy-mortgage-deposits-b754599.html


    The only people I know who are now jobless as a result of covid are those on minimum wage or just above who would of not been able to get a mortgage anyways, don't know of any one on a reasonable income being made redundant. They will still be able to buy, unless there is some sort of financial crisis like last time which will prevent them from buying and prices will have to come down naturally, but government will intervene as allways unfortunately. 

    Kind of - many mid level jobs are dependant on those minimum wage jobs.  Deferred effects.  I know many big earners who are sitting jobless right now, and that's in the lucrative tech industry (!).  Never seen that before.


    Deferred, yes, till they can wheel out the next prop, this one is a serious prop too, pushing up the bottom of the pyramid. 


    I'll try find it later, but I read an interesting report showing that with every central bank "intervention" recently the actual impotence / effect to the real economy has become so poor that even the USA are now considering a digital dollar is to the next way to overcome disruptive events.

    Eventually the drugs stop working too.


    Like CV19 ?

    House prices up 5% since then :lol: 

    Slightest hint of trouble and it's another 500Bn for the banks, lower IRs and more "help" schemes.

    When the currency collapse comes no one wil be buying a house regardless.

    IMHO the effects of CV19 have merely been deferred.  

    When there's no real economy of which to base lending on, NINJA loans is what it'll take next.  

    But yes agreed, buying a house should actually be the least of one's concerns right now.... 

  10. 13 minutes ago, Martin_JD said:

    I'm going a head with a purchase right now, call me crazy, perhaps i am and we shall see, but it's the right house for us, in the right location, at the right price.  

    As I like to remind everyone on this forum, you're one of the lucky ones, whilst a generation and possibly two priced out as things stand ... and there lies the fundamental issue.   Easy to get swept away in your own world, though.

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