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About sammersmith

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  1. As do I. Even though the SD holiday still means LLs still pay the additional rate, removing the basic rate for them is as good a relief as they're ever likely to get. All that i've seen on the ground suggests that LLs are behaving in the same way they were prior to the higher rate introduction: getting in neck deep before the door slams shut.
  2. I would be the last person to defend Labour, but the shadow housing minister did refer to the Stamp Duty holiday as a "bung to landlords".
  3. This always sounds good but i've seen the reality of this in a few blocks i've lived in. Busybody older residents with time on their hands pushing forward estate rules and tendering for unnecessary work, with the costs split across all flats. Any way they repackage leasehold will still mean someone else will have a say over how you live and how much you need to pay this month. Just buy a freehold house further out of town. There's plenty of those around.
  4. You might think that, and I did think that as well. Having a modest first home is still expected, but now the expectation is that they would hold onto that first home and turn it into a side hustle when they buy their 2nd home. I don't think so. These are just regular people at work. Most likely a 2:1 from a regional university and then on to a grad scheme at £25-30K. Not on life altering salaries and probably have experience of been screwed over in rentals.
  5. The few young people i've spoken to about housing are actually looking forward to the day when they can become landlords and buy their first house, buy second, hang on to first and rent it out. Rinse and repeat. This is the generation raised on HUTH. They don't want higher taxes for 2nd home owners / LL as they believe it will impact them later.
  6. I've often noticed this. I went to a development shared ownership 2nd phase release event and it was rammed. Yet, the 1st phase resales have no takers, even though they are the same group of people notified. People are taken in by the newness. They want an Instagram picture of themselves standing in front of a new door with a bow on it.
  7. As I understand it NS&I funding is used for government funding, so it isn’t lent as such and a default would mean a government default, which would seem unlikely no matter how bad things get. The government is directly responsible for anything that happens with NS&I. I gamble that they won’t risk the wrath of middle class savers. Same.
  8. They’re not involved in loans or mortgages, and any failure stops with the government directly. The only danger I see is if the government decides to withhold deposits, but i really can’t see them doing that.
  9. Ive often wondered this and never received a satisfactory answer when I’ve asked others how this will actually work when a crisis hits. Recently my BA flight was cancelled and all I heard before was that I am entitled to a cash refund within 7 days. Instead BA closed their phone lines and only offered vouchers online. I can’t help but think when the FSCS compensation is actually needed they will employ similar feet dragging exercises. I’ve since moved basically everything except daily expenses to NS&I
  10. Exactly. it's a last bung of cash and, to be fair, I think it's reasonable given the government did force construction sites to close for 3+ months. The HTB estates around me were rushing to meet the deadline before lockdown so they're probably on tight timescales. This 3 months will really be it though. They won't extend for 3 months and then re-extend for a year. That would look a bit blatant.
  11. Oh yes, there will be those that are young and unpartnered so can work from parents or those at just the right time in life (decent money but few family commitments yet) that could relocate out of town easily. I’m in IT myself and now planning the rural WFH life. I think though this is a small number in the grand scheme of things and a lot of countryside for them to spread out in. A lot of young Software engineers I know already bought flats and now likely have no one to sell or rent to. A decent number are European so will want to stay in London or work from their home country. I’ve seen the latter a lot since lockdown began at work. I seem to be the only person in my immediate set of work colleges willing and able to move rural. Two people bought houses in Manchester post-lockdown, which seemed crazy to me considering the future working pattern changes already starting to become clearer.
  12. I think this is true, and it's something i'm looking to take advantage of, however it may not be as sudden or as far reaching as you think initially. The people who will benefit from this will likely already have kids in school, local connections, and will have to sell their own house to someone who actually wants to be in a London suburb but doesn't need to commute to London anymore. Also, this demand for rural property will be spread over a vast area where previously everyone was fighting to live in a relatively small area.
  13. All of the recent sentiment - boosting events (Boris/Brexit - Bounce, Interest Rate cut, Stamp Duty cut, HTB-extension) seem to be much shorter lived and of less potency than previous ramping exercises. I'm seeing similar patterns in the last few days. Following the SD announcement lots of cheeky whatsits upped their asking price (often having previously reduced it) but now that decision is not looking so clever. There are reductions across the board but i still feel they are not reducing enough given everything that is happening and what many suspect is coming very shortly.
  14. Going by the Shelter chart above then, your deposit should have been protected by 6 May 2012. The LL is 8 years late. New tenancy in October 2018 definitely should have protected deposit. No excuses possible here. His requirement to pay for a license should not be a concern of yours and he really should not be using it in a rent negotiation. It's his responsibility. He wants to play landlord and this has costs, taxes, and profit associated with that. If a tax increase meant you had less disposable income, do you think he would accept a lower rent?
  15. From Shelter: https://england.shelter.org.uk/housing_advice/tenancy_deposits/tenancy_deposit_protection_rules Landlords and Letting Agents have had years, over a decade in some cases, to get themselves in order with the changes and do the right thing, and yet still they manage to mess up their very limited responsibilities. First misdemeanour for a tenant and find a S21 dropping through their letterbox.
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