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Everything posted by mat109

  1. Is it me, or does the constant use of the word "stated" get on anyone else's nerves? All the P118ers use it, all the time. The chancellor stated this, you stated that. Other decent verbs exist.
  2. Sadly I've used them as a benchmark in London - they're not the worst. I've asked shady small estates agents why they charge more than Foxtons several times... The response never makes any sense
  3. What, like the lifetime allowance? You can save, but only so much.
  4. Or with the fun excuse that if those numbers are wrong, then landlords are a bad lot anyway, so who cares?
  5. They're a campaign group. Renters need a counterbalance to the landlord clowns. Look at P118, they hate shelter. Enemy of my enemy is my friend.
  6. http://www.revenue.ie/en/tax/it/leaflets/tax-relief-source-mortgage-interest-relief.html Certain social housing supports - what, like those housing benefit tenants landlords are so keen on? So - they actually haven't scrapped it at all for most of the market, just at the bottom end and with strings attached. This subtlety is totally ignored in the media. The BTLGraph http://www.telegraph.co.uk/investing/buy-to-let/irelands-scrapping-of-buy-to-let-tax-is-warning-to-britain/ make no mention of that small detail.
  7. The interesting thing about the BTL as a pension belief is that a pension was always a explicit contract between the generations - the young pay in now, but get something back when they too are aged. The problem of course is that there is no explicit contract with BTL - you pay in and have nothing at the end, other than the shelter you have "consumed". At the moment if you're young - It's not a pension, it's a return to feudelism.
  8. As Damocles says, the arrangement is between you and the landlord, the agent has no real part. This includes the deposit. It's the landlord's problem if the agent goes bust/refuses to give him the deposit. Assuming it's protected in a non-custodial scheme, the insurer will refund it to you and recover it from the landlord when you leave all things being well. If it's not, then you can sue for (up to) the 3x deposit + return of the deposit. In summary, It's the landlord's problem that the agent holds the deposit, not yours.
  9. Yeah, I saw that one with some excitement last year. Casehub's own site is a little quiet though... https://casehub.com/ It's a shame, because I think it's a good idea.
  10. Interesting - do you have any sources for that (the demands, the illegality requiring them to show that it was spent on a service)? There's a few letting agents I'd love to talk to...
  11. This. Can you imagine the Daily Express screaming? Softly, softly. Gently, gently. If it's market forces that bring it down (even if indirectly precipitated by policy), they don't take so much blame. You just have to hope the journos at the tabloids don't notice. May didn't like the idea of building on the Greenbelt (hence the whitepaper delay), but they've admitted the market is broken. Remember: Barwell barely held onto his seat in the last election. Croydon is an ultra marginal seat. He's GOT to get more owner occupiers into Croydon to keep it because labour are snapping at his heels. He wants housing prices down more than most.
  12. HMRC Connect is based off technology called netreveal by BAE systems. I've seen them selling the product in another domain. It does pretty much exactly that - tries to link disparate pieces of information to build a single picture of activity (name, dob would be one way of linking together but includes the less obvious 'tell-tale' stuff like phone numbers etc.) and then find oddness in the profile it builds. Looks like clever stuff, but it's not magic. So - I guess it could take Land Registry data and 'notice' you have n rubbish flats yet have never declared any income.
  13. Because they think it's topped? Only takes that to become the mainstream view and the hoarding stops.
  14. Absolutely move jobs. When I started in 2011, technology consulting was paid a bit better than software engineering generally for most things. Fast forward a few years and the salaries, particularly at the high end, are insane.
  15. Look at the leasehold system. Before the reform in the 90s, freeholders could rinse their leaseholders for everything. Now, not so much (though new leaseholds are structured differently). You can force the freeholder to stop managing the property, ("right to manage") or force them to sell a renewal, or even force them to sell it. Why? It was a popular move. Yes, you pay them some money in compensation, but it's (more) in the leaseholders favour than it was before the reform. The old assured tenancies were significantly in the favour of the tenants - so much so that there are still people living under them. There were some side effects (poor maintenance being an obvious one) but other than that, the tenant had security for life. Introduced by labour in the 60s, I believe. Why? It was popular, and at the time, perceived to be a vote winner. Believe me, I don't think this will happen soon - but if you look at the landlord fora, they already think the world is against them.
  16. I think it's probably an age thing. Give it 20 years.
  17. So - on a thread about optimism about the young, what should they be doing?
  18. They changed nothing. But they do show a certain political awareness which certain people on this forum like to say isn't there, don't you think? Just saying population imbalances and more people in care means more forced sales. Care is expensive and it doesn't follow that we're all going to inherit £££ from BOMAD. Absolutely. Not sure I agree with this though. If global interest rates rise, they'll have to rise in the UK. Unless you think we're like Japan. How is that working out for houseprices? Deflation. +1 on this.
  19. Here a thought for you. By 2025 PwC predicts that 25% of households (not people, households) are going to be in privately rented accommodation. They think only 26% of 16-39 year olds are going to be owner occupiers. I get what you're saying - you look out for yourself and protect your own interests. All those people are going to be doing the same. The political pressure is going to keep on growing, and growing. That's a disaster for the conservative party, who are traditionally the party of homeowners. Think this is a generation which doesn't care about politics? https://en.wikipedia.org/wiki/2010_United_Kingdom_student_protests On the other hand, in 2025 1m are going to have dementia and may not even be able to vote: http://www.alzheimers.org.uk/info/20025/policy_and_influencing/251/dementia_uk/2 All I'm saying is that their are significant political risks to BTL. Even if there is no HPC, the world is going to be an even less BTL friendly place. S21 might go, for example - where does the end of no fault evictions leave your investment? Rent controls? Right to buy? I'd stick with bonds and the stock market if I were you. At least you can sell when you want.
  20. On a slightly unrelated note, you might want to consider an alternative pension plan if you're hoping to rely entirely on the state. Of course, if you are going to rely on the state, I wouldn't be surprised if you didn't qualify for housing benefit on such a low salary, so it's a rather moot point.
  21. Ah, understood. Apologies - I don't yet have edit permissions.
  22. If you're in the (admittedly unusual) position of being both in negative equity and subject to a compulsory purchase, then ouch. http://www.compulsorypurchaseassociation.org/negative-equity.php All the money goes to the bank, and you're left with nothing... I think I'm going to have to agree to disagree as well. It might match your personal circumstances, but I don't recognise it.
  23. What makes it a home? Security of tenure? The same can be said of leaseholders. Do they not have a home? If they forget to pay their ground rent, they'll "find out" as well. What about freeholders? Let's not forget, all land is theoretically "freely held" from the crown. If the lady wants it back (compulsary purchase), then good luck defending that. If you're in negative equity, or noone will lend you money again to buy a house? Tough luck, you really will be homeless.
  24. So, when we say people are "homeless", what does that mean to you. I rent, am I homeless?
  25. The economics of leaving a house empty for 2 months (can't rent it) and paying council tax seem to me to be a little screwy... Why not reduce the rent? Or sell?
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