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Everything posted by MississippiJohnHurt

  1. Oh dear. 50% of the funds burnt since last August and the product in "hibernation". Clause 24 being mentioned as the reason for this even though the funding round closed after the removal of the tax relief was announced. As Mark said: "Don’t be concerned, there is absolutely no need to be". I also see that Connie is clear that her BTLs are an investment. Edit to say: it was inevitable that 118 would turn in on itself eventually. I wonder if this might be the catalyst.
  2. Sometimes I wonder if this attitude is wrapped up in the feelings of financial mastery that seem to be prevalent in many people who happened to make lots of money on a house because they were born in a certain period. I think people with this view will believe they are a "success" . That success is driven by property gainz and therefore the absence of property gainz = failure. And human nature / the way we have evolved means that success often hates failure.... Imo versions of this attitude are pretty common in the 45+ group, although I think it is as the subconscious level in most cases.
  3. This. "im so worried about pensions that I chose to ****** future generations". Fine - but don't expect sympathy.
  4. Are you a landlord, Missness? Your posts seem to suggest so. Personally I welcome those with a different world view here as we can get a bit similar in our opinions. You will probably get flamed for a bit but we're generally pretty accepting if you are genuinely here for a debate. If I am right and you are a property investor, do you have a view on the forthcoming changes to remove tax allowances on mortgage interest. If one listens to the property 118 crew it is confusing as they seem really angry with the changes but at the same time they seem to have identified an easy solution: to raise rents. So I've been wondering whether the root cause of their anger is simply altruism.
  5. Cooper: "if we don't stand up for ourselves, no one will" And there's the rub. Right there in front of you, old son. I think 2016 is the year that leveraged landlords will learn the difference between expediency and necessity.
  6. And quality too. Since I discovered the netherworld of online landlord fora and landlord lobby groups, I have been really struck by how low quality the figureheads are. As far as I can see the best out of the lot is Mark Alexzander, and from his online presence he seems to be a fairly basic chancer with connections that reach as far as regional bank of england economic data collectors. But to be fair to Mark, he saw the situation for what it is quickly. The speed of his panicked emigration was pretty impressive. If the political tide really has turned - and we will find out one way or the other during the remainder of this year - the landlord diaspora is in a world of trouble. And judging by what we're seeing they will have no idea how to plot their way out. If it all plays out like this we should start to see some pretty amusing infighting on 118, at the very least.
  7. Of course. Conversations like these are happening up and down the country: “So, we are a bit short on space now that Johnny has arrived, and we have made a decent sum on the house we bought in 2010. I’ve seen a house I really like - it is going to quite a stretch us, but we should be OK if we tighten our belts a bit and one of us sells a kidney, or does away with their parents to crystallise the inheritance”. “I think it’s a good idea, but I really do think we should wait until the UK electorate has decided on whether to remain in the EU. This way, we will avoid any risk of buying into a falling market driven by Brexit. As we know, the general public has an uncanny ability to predict long-wave macroeconomic outcomes and position itself accordingly. “ “That’s right - just the other day at the school gate, Wendy told me that they had taken out a hedge against the possibility of Brexit precipitating a decline in the pound, which could in turn affect the base rate and thus their SVR. The effects of these changes on the varied terms and rates of their two mortgages meant that they have had to carefully structure a derivative. They have arranged to lay-off any residual risk with the Browns, who judge the chances of Brexit as low and are adjusting their risk appetite upwards as a result. She must have learnt a lot from the extensive and complex national debate we’ve had to date on Brexit, as when they first bought the house she told me that things would be a stretch but that it would probably turn out ok in the end, as property always goes up” “OK. We will wait. Of course, we would then have to move quickly before the parish council elections in August and Alice’s school elects new governors in September, both of which could have significant upside potential for property.“
  8. Nice negotiating tactic ! Will be even more distressed if it isn't sold within a couple of months. Tick tock
  9. Advertise it? I intend to blag my way in to it. Am going to go as Jordan, a letting agent with designs on building a pension by purchasing 10% of a number of different flats in my local area. Have already bought some gel and one of those really thin ties.
  10. Heh had forgotten that but can see it now you've said it. She did look so swarthy with a beard.
  11. Yes it is a bit odd - almost like there are two sets of sale price index that they are look at, one for btl and another for everyone else.
  12. Yes for someone so sanguine, he seems to engage in a lot of self-soothing. If the market is so healthy I am not sure that the stamp duty change should matter anyway. A healthy market is a diverse and sustainable one, right?
  13. It was good but I cant help thinking that Gary Dully's suggestion would play better on the streets of Batshitville. We haven't had enough Dully round here lately actually: "Dear valued tenant, This letter is to update you on unfolding events within the rental industry that are about to burst onto your TV screens and be written about in your newspaper. Due to the incredible stupidity of this current government and more especially the crass buffoon of a chancellor of the exchequer, George Osborne, Who, incidentally, now needs 4 budgets a year to keep the country from going bust, because he cant tax Google or Amazon properly, (or doesnt want too). They have had to devise such a lunatic way of assessing all landlords taxable incomes, that over 4.6 million tenants in the UK are about to receive letters such as this one or simply can assume, by default, that they will be made homeless over the next 4 years as their Landlord is bankrupted by the State. It is called Clause 24, it will affect you and many thousands of other tenants in the city. We are currently mired in a legal battle to get it stopped along with hundreds of other UK Landlords across the UK. It is being fought because the change is discrimination of a particular occupation (Landlords), and a particular group of people within it, (Tenants), who pay for everything we do through rents. This battle is currently being waged against the government and they are fighting us with everything they have got, including smears and bare faced lies in a vain pretense of saying its for the good of first time house buyers and they are somehow removing a favorable tax treatment of our business. If thats the case, they should apply Clause 24′ to all businesses and watch the country go bankrupt overnight especially George Osbornes family business as the World calls the UK a No-go area of stupid taxation rules. Therefore I should warn you that if Clause 24 is not reversed by Judicial Review, this increase will probably double every year for the next 4 years. You have never faced a rent increase, whilst being a tenant of ours, but this pathetic, stupid idiot of the exchequer has thrown the UK Rental Market into turmoil overnight and made our business model into a 3rd World economic Basket Case that will cause rent increases across the UK to run into £Billions for loyal tenants such as yourself. Political cronies that will comment on this over the coming months will attempt to blame everything and everybody but themselves, but they are all aware of this disaster, including Conservative, Liberal, Scottish National and Labour MPs who have given the green light to your rent rises by not killing off this discrimination of a taxation change stone dead before it even got to the statute book. It is now the law of the land and it breaks my heart to raise your rent, but the choice is stark, our accountants are advising us and all other Landlords to either increase now or lose the property that you rent, as we face potential massive increases of tax to,the Government. If you intend to look to rent elsewhere, I understand why you would do so, I probably would do the same, but please bear in mind that the government have chosen not to affect the rich Corporate Landlords and they will be raising rents also to obtain extra profits for their shareholders knowing that all Private Landlords are going to be forced to raise their rents and they will simply attempt to do the same. So if you want your next Landlord to have an 0845 contact number, have no say in your property decoration, and want to live in a student type block and share the washing machine , I wish you well. However, unlike us, your new Landlords will probably be Foreign Owned and they wont be paying a single extra penny of tax to the HMRC. So for those tenants that stay, thank you and for those that dont, I will provide you with a reference should you need it. The rental market is about to implode as Landlords like ourselves are taxed in excess of 100% of our incomes by the Government and their idiotic advisors, who cant even get the big companies to pay tax and now have decided to tax our tenants instead through their rents. Your rent increase is on the accompanying document, if you wish to complain to myself of your local MP, please use the internet links provided. You are wonderful people and do not deserve to be treated in such a fashion, by a lying cheating politician called George Osborne, that simply doesnt give a fig about your or our financial situation and have created a ruinous tax change without seeing its consequences. We shall continue to fight this deplorable tax law change through the Law courts and I will keep you updated of any developments, as they arise. Kind Regards" I liked it when it said 'vain pretence' and 'it breaks my heart to raise your rent' in the same letter.
  14. Truesay Last few Tele articles have made me wonder if he has become Agent Dyson, HPC provocateur
  15. "He hopes that political ambition might prompt an about-turn by George Osborne, who will need the votes of mainly Conservative landlord investors. I think he might change his mind if he wants to be Prime Minister, said Mr Grant " Think Mr Grant missed the part where George Osborne has actively decided that the youth vote was more important than the votes of a relatively small number of natural Tories who, in the current picture, have no alternative vote. Mr Grant needs to think of the net position if Osborne successfully annihilates the BTL to win a decent share of the youth vote: He will have taken votes from his only electoral rival, at the expense of losing some to nomark parties. Unless of course Mr Grant and his fabled band of Tory voting entrepreneurs want to vote for Corbyn or his successor. I'm not sure they will be keen to return to the halcyon days of BTL though. As I think Neverwhere said the other day, the BTLers great folly was to not even consider that politics matter, which is a very bad move when you are blithely f****** around with the living conditions of generations. Their wailing now is simply the realisation (mostly subconscious still) that they are now the quarry. But i think the fun will really start when the majority of them come to a conscious realisation that it will make good politics for any side wanting to be elected to do exactly the same as Osborne. That it's not just one man 'betraying' them or whatever absurd phrase is being used this week. It's simply good politics. I reckon that a widespread, conscious dawning will happen by the end of this year amongst the majority of BTL. The only question remaining is whether individuals are smart money or dumb. The smart will be leaving now, the dumb, Mr Grant evidently included, will still be thinking that Osborne has accidentally done something which has alienated his friendly core voters. And a bit like Venger, I will have zero sympathy for any of them. The greed, the abject self pity, the references the the Nazis, the underpants round the light fitting are all SO ready for a massive bonfire Chapeau, the Tories. And I don't say that every decade
  16. Nice. Criminally, I haven't read your shoblerant yet so maybe shd know this...but what is the difference between oo and btl at the moment in terms of risk weights?
  17. "People are realizing that you arent going to bring up your family in central London, so lets not build so many three- or four-bed units because they end up costing several million pounds and the only people who can afford that are foreigners, Tincknell said." Brilliant. Not sure if this guy is related to Mark Tincknell of Connaught fame but if so we may be on track for a second high profile shipwreck in one family.
  18. Someone I know had heard this advertised.....on Talksport radio! He had not heard adverts like this before on the station - pretty clear sign of desperation imho. Talksport demographic are also quite unlikely to be able to fund a 900k flat in shoreditch as an investor.... Wot-no overseas mugs left? Game on
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