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Mrs Bear

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Everything posted by Mrs Bear

  1. Yes, but it's not as if shit LLs are confined to the HMO market. That is the point.
  2. A lot of landlords will have bought their properties some time ago - prices have soared since about 2010, never mind the previous 10 years or so - so their returns will still be good relative to capital outlay. 2 bed flats in London - in OK but not prime areas - that could easily have sold for under £100k in the late 90s and were selling for £250-275k in 2010-ish, are now routinely priced at £500k+. Nobody in their right mind would buy at that sort of price now, with a view to renting it out.
  3. Why only properties with 5 or more people, from 2 or more families? They need to crack down hard on ALL rentals. If licensing were mandatory for all LLs - and enforced - and their details passed to HMRC, I suspect that the tax take would go up by quite a bit more than it would cost to implement.
  4. Earlier I checked zoopla for my daughter's area of Oxford -OX3. Just on the first page there are several large HMOs up for sale - mostly untenanted., it's been a while since I checked. Oxford is def HMO territory but I've never seen so many for sale before. Tax changes are definitely hitting.
  5. Yes, if this is really going to be on the cards, should imagine there will be a mass sell-off beforehand, which will make anything recent because of tax changes look piffling. There will be a mass of evictions but OTOH a mass sell off should do a lot to bring prices down faster. Swings and roundabouts....
  6. Future to me is preferably like what happened yesterday - having been recommended a certain toy for a particular age grandchild, ordering from JL website yesterday and picking up from Waitrose today. ?
  7. Bedknobs and Broomsticks had the witch who magicked old suits of armour to life and scared the pants off the would-be invading Nazis.
  8. In some of the most expensive roads in Kingston, some really nice but unpretentious older houses have been demolished and ghastly WAG palace types put up instead - massive pillared entrance, you know the kind of thing.
  9. Land Reg figures represent completed sales from around 3 months previously, so presumably they reflect offers accepted at least 2/3 months before that. So latest figures probably reflect prices agreed May/June, which is a while ago in MSM sentiment terms, I should think.
  10. Maybe they're not typical, but of the few cases of BOMAD I know of personally, none has come from MEW. They've come from savings and/or passing on much or all of legacies from their own parents. The children of only children have an advantage here. A BiL of mine was the sole heir of his parents, and of a childless aunt, so my niece and nephew have been particularly lucky in that respect.
  11. There is the bank of Granny and Grandpa, too. Not to mention widely differing amounts of family help. An ex colleague's two children had hefty trust funds from a grandfather who'd abandoned his own family early on - their dad had hardly known him. He left nothing to his own son, who was not well off and lived in a very modest house. The granddaughter, on the other hand, was able in her mid 20s to walk into an estate agent in an expensive part of SW London, and enjoy telling the patronising EA, who had evidently assumed that she wouldn't be able to afford anything on their books, that she was a cash buyer and looking to spend around £800k. (I've been later informed that her house is now valued at something like £1.2m) I could tell myself that it's not fair that we were not able to help our two to anything like that extent. I know we were very fortunate to be able to help at all, and that they were equally fortunate to receive that help. I don't begrudge the money in the slightest, but at the same time, for the sake of everybody's children, I wish they had not needed help to buy their nothing-remotely-special houses.
  12. They would all love price reductions, if it means there are going to be sales and money coming in, when for many at the moment there is eff all.
  13. The deposit protection csertificate, which the LL is now obliged by law to give to the tenant within a certain period, does also have to give the LL's name and address. This applies whether a letting agent is managing the property or not. So in theory there is no reason why a tenant should not be able to give this info. However I'm sure there are plenty of scumlords who still don't protect or provide the certificate, and won't unless they think they are highly likely to get caught. It's high time there was some public service advertising on TV/radio to inform tenants of the LL's responsibility re deposits, and that they can claim (I think) 3 months' rent if the LL fails to comply. Edit to add, friend of ours was recently contacted directly by an ex tenant, via the info on the deposit protection cert., because he was having trouble getting the letting agent to refund his deposit, even though the LL had already agreed to it being returned in full.
  14. Oh, I see. Savills have predicted that London prices will grow by 7.1% from 2018 - 2022. From what magic crystal ball did they get that figure, especially the extra point one per cent?? Did they add that to make it look more 'scientific', and not as if they plucked a figure combined from thin air + wishful thinking? Truth is, IMO, they know prices are coming down, but can't bring themselves to admit it in blunt terms, and have to keep up the pretence that they have a better idea than most of what's going to happen.
  15. Anyone who says 'purchasing' when 'buying' would do just as well, is usually a bit lacking anyway, IMO.
  16. Hefty fines are best IMO. Prison costs the taxpayer a bomb. A suspended sentence plus fine is probably even better - into the slammer if you don't pay up.
  17. Yes, it's insane. HB bill was over £23bn annually last time I heard. Haven't asked or found out how much of that goes straight into LLs' pockets instead of into buying or building and maintaining stock.
  18. I've seen several shared-FH flats in London, but usually they're purpose built Vict/Edw. maisonettes, just 2 in the building, not in bigger blocks. There are a lot of these in many areas of SW London. If LH ground rent usually pretty low, if not peppercorn. Although there is a large, fairly high rise private block, 60s/70s, near us (Kingston) where they all own a share of the FH.
  19. You may well be right, but not that long ago I saw a documentary on council housing fraud - people using fraud to claim that they'd lived there for the required length of time - sub letting in the meantime, buying only with the intention of selling on at a profit as soon as possible. Must have been a lot of this since prices rocketed. There was a programme* the other night about social housing fraud - largely about illegal subletting and people claiming social,housing who owned properties elsewhere. Massive scale of fraud, esp. I suspect in London. Was impressed with how many cases had been uncovered and brought to court by the councils quoted, but dare say it's the tip of an iceberg. Can't help wondering how many properties would be freed up if this was put a stop to. One of the fraudsters had a well paid job in the housing dept. of another council! Can't say this old cynic was too surprised at that, though. *Council House Crackdown, if anybody's interested. Can't remember the channel, maybe BBc1. On a slightly different tack, a daughter recently bought an ex LA that had been bought by previous owners (probate sale) in 1971 (as we found out after a good old nose on the Land Reg) though daughter was told by the relative handling the sale that her parents had lived there for 60 years. So RTB had evidently gone on to some extent well before Thatcher.
  20. £500? More like £1000 anywhere around here.
  21. Labour had many years in which they could have reversed Right to Buy. But they didn't. Now why was that, I wonder? Could it possibly be because they thought it would lose them votes? As for local councils, I don't see that they've necessarily been very pro active in insisting on certain standards for the 'affordable' sections of private developments. An ex-colleague's son and family moved into a 2 bed flat, an 'affordable' rental that was part of a large, private development. The kitchen had no window and the 2nd 'bedroom' wasn't even big enough for a full size single bed, only a toddler bed. The council wasn't Tory at the time - it was LD.
  22. Retirement villages are all very well for some, but no use past a certain stage of dementia, when people need someone on hand ALL day, ALL night, 365 days a year. I know of several people who thought a nice sheltered flat with carers popping in would be fine for a relative with dementia. Within a few weeks or months they have invariably been asked to,leave - wandering, not washing, aggression, knocking on neighbours' doors at all hours, etc. Not to mention refusing the care available because 'there's nothing wrong with me! I can manage!' - because in their own minds, they are still managing fine. My mother still thought she was managing fine when she could no longer even make herself a cup of tea. It can be a particular bugger if they've actually bought the flat, since they can be notoriously difficult to sell.
  23. I think what was new was the idea of rolling up the cost of at-home care visits, to be repaid once the house is finally sold. At the moment AFAIK a person's contribution depends on their income, so someone living in even an expensive house, if their income is very low (not unknown among pensioners) they might pay nothing or very little for care visits. People with sufficient assets have always had to fund their own care home fees AFAIK. We had two wholly self funded relatives well before the Tories even came to power. Evidently some people were naive/clueless enough to think care homes had always been funded by local/national govt aka the taxpayer.
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