hi5lo5

https://www.property118.com/general-election-8th-may-earth-landlords-vote/97686/comment-page-9/#comment-89756 Ah but tactics are all important. The landlord candidate can instruct landlords to use their votes in the best possible way, say the day before the election. This could give us some leverage oh dear, these clowns never realise. "Leverage" what put them in this situation in the first place.

Apparently Busta watches only Russia Today. May be he knows something we don't know.

. http://www.telegraph.co.uk/investing/buy-to-let/new-buy-to-let-tax-works-andhow-beat/ Claire Williams is one of the thousands of investors to be caught out by the new rules. Now 26, she bought a buy-to-let property in Hayes, west London, in 2014. She also bought her own home in Swanage, Dorset, at the end of last year. Ms Williams is an “accidental landlord”: she put in an offer to buy the Hayes property before the estate agent told her it had sitting tenants who would remain in the property. After increasing her deposit by taking a small loan from her parents, Ms Williams bought the two-bedroom house for £242,000, which she called an “absolute bargain”. Her £168,000 interest-only mortgage costs £290 a month. Her tenants pay £950 a month, but Ms Williams is banking on the property value rising as the house is well located for the Crossrail development, which will cut travel times to London. She earns £38,000 a year as an IT trainer, making her a basic-rate taxpayer. However, her rental income pushes her into the higher-rate tax bracket, meaning that she will be hit by the new tax

This forum or this members of the forum never ever claims all BTLers are going to sell up. The BTL properties owned outright holds up as long as the interest rates are low. If the interest rates goes up a low yeilds on BTL would be less attractive for most. Again to echo others, most of the forum members are clear on what is the impact of S24, wear and tear allowance, tenant fees ban, PRA. Its pretty evident who is seeking reassurance.

S24 is one of the many tools that work against the LLs. 10% wear and tear allowance is a big setback along with the new PRA rules. To make things worse the most council's have removed any discounts. If you still think your marginal units are true representation of BTL LLs. Good luck to you.

Because agents busy writing ranty letters to the MPs about tenant fees ban.

Typical BTLer. You took responsibility for the 7 families as oppose to take shit loads of debts and expect the hardworking families to pay for your debts. BTLer doesn't need to have a business plan. Just sit back and watch, a debt fairy is about to arrive and rescue you deluded lot.

Until the lenders deny the consent to let and their alleged pension value gets eroded.

Typical 4 bed property buyers are the ones already having 2/3 bed flat/houses up sizing their gains. Those properties can only be bought by either a BTLer or a FTBer. SDLT and the S24 paralyzed the BTLers ability to buy. FTBer can't get the mortgage.

Nope. They saying limit the unsecured lending. People can still MEW their property to fund the lifestyle. Property prices ever only goes up.

https://www.lettingagenttoday.co.uk/breaking-news/2017/4/major-lender-lowers-affordability-assessments-for-buy-to-let One of the biggest lenders to the buy to let community, Santander, is to lower its affordability assessments from next Wednesday. It will use an assessment of 125 per cent rental cover over monthly mortgage payments, and a five per cent affordability rate for buy to let remortgage applications where no increase in borrowing is required. The bank says this should mean that borrowers already with a buy to let mortgage arranged prior to the new Prudential Regulation Authority guidelines coming into effect - requiring stricter lending criteria - should not be adversely affected if they then remortgage.

Wait until the tenant fees ban bite into the profit of EAs. I suppose it's not far away. No tenant fees, LLs trying to reduce the outgoings to be in the game.

https://www.property118.com/cebr-says-house-prices-set-boom-25-4-years/97446/ What will the HPC crowd do now? They’ve been hanging on for years waiting for their House Price Crash! They hoped the attack on landlords by the Government would bring about their beloved House Price Crash! Instead it looks like there will be a House Price Climb! A valid concern from the 118 crowd. George: S24 & SDLT surcharge will be introduced. 118ers: that's ridiculous, it's unfair. No evidence we create a housing bubble. HPCers: Hurray. 118 crowd you better sell up before you go bankrupt. 118ers: it's against GAAP principle. MPs: Nope we are not going to back pedal. 118er: we will create PR stunt by wearing orange t-shirts. Cherie Booth: This is ridiculous and it is unfair. Judge: Get back to reality. BOE : we are concerned about the BTL lending PRA: We are introducing new rules for BTL lending. We will throw debt junkies under the bus to save the banking system. 118ers: We will put rents up. Govt: To mitigate this threat, We will ban tenant fees charged by agents. Market: Nope rents are determined by what people can afford not what you owe to taxman and the bank. Someone: House price is going up . 118ers: HPCere are losers. They jealous of our success. HPCer:

http://www.rightmove.co.uk/property-for-sale/property-47497992.html A Two Bedroom Victorian Mid-Terrace offering either a first time or investment buyer ample opportunity for internal improvements offered to the market with ‘Vacant Possession’ and therefore ‘No Onward Chain’. http://www.rightmove.co.uk/property-for-sale/property-65722748.html This made me laugh. Let me get this correct someone bought this semi detached house and convert into two flats now has come to the realisation of S24 trying to sell as great investment opportunity. How the numbers stack up post S24 and PRA? under the new PRA rule from Sep 2017 the lenders have to do a stress test on 5.5% rate with 145% rental coverage. i.e the maximum borrowing capacity for a £1750 is £265k. Then some one has to find the rest of the money to buy this property and wait for the capital gains to raise. Good luck to the vendor.

I hope the EA pays well over the 50k for their interns.

Question is how many will fail the DBS check? http://www.propertyindustryeye.com/agents-will-have-to-undergo-criminal-checks-under-new-money-laundering-regime/

http://www.propertytribes.com/landlord-facing-going-broke-lack-of-advice-t-127629103-6.html Another one keeps giving. this time MKdong, gloating about his ability to MEW to pay his S24 bills. Someone(known to the forum) trying to explain the PRA guidelines. Forgetting the fact, It's not your choice.

I think its lot less than London @ London house prices. yesterday saw a three bed flat in central Reading for £400k

This is the point most of the general public when it comes to house prices. I found this gem from Reading £595k. Basically a 3 bed semi converted into two flats near university area. We discussed in this forum about how it is going to cost dearly for done who made conversion into flats and shot themselves in the foot. Monthly rent : 1,750 (21k p.a) Without S24 under the new PRA regulation 5.5% stress tested with 145% rental coverage one can get a mortgage of 260k(350k) with 75% and achieve 0.2% yeild on an investment of £90k. Again this is only taking in to account of 1k each for maintenance fee and agent fees p. a. and NO S24. Don't understand why the vendor needs a closed bid. http://www.rightmove.co.uk/s6p/65722748

Complete bonkers, most BTLers have earnings over the savings interest relief threshold (16k) above that they need to pay tax on the interest earned.

https://www.property118.com/seriously-ill-tenants-status

Letting fee ban consultation begins today. Some tenants may choose to undertake their own reference checks and obtain a ‘tenant passport’ that enables them to demonstrate that they are financially and legally able to meet the terms of their tenancy. The Government does not intend to prevent tenants from doing so but intends to stipulate that no agent or landlord should require a tenant to carry out their own reference checks either via the agent or via a third party. 77. As is the case now, agents and landlords should not discriminate against individuals when considering potential tenants for their properties. We are aware of certain landlords rejecting households on the basis that they have children or receive benefits, which is not good practice and strongly discouraged. The Government is keen to mitigate the risk of the ban leading to any increase in discrimination against families and people who receive benefits and believes that the continued use of holding deposits will help to do this since it will ensure that no agent or landlord is left out of pocket as a result of a failed reference check. 78. It is worth noting that where discriminatory practices do occur this is often during the advertisement of a property, before any fees are charged, rather than at the point of taking references or negotiating a tenancy agreement. 79. The current law is clear that agents and landlords must not advertise or let a property in a way that unlawfully discriminates on the basis of a person’s disability, sex, pregnancy/maternity, race, religion or belief, gender reassignment or sexual orientation. The last point is for Fungus

Wether this was intended or not by the architect of the S24. But it's clearly "one silver bullet"