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Jabbabhoy

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About Jabbabhoy

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  1. Friend of mind who owns a view properties said tax bill went from £1,400 to £5, he was earning I think £300 a month in profit from rent. Therefore I would imagine only profit now would be made from previous asset appreciation or future, he mentioned if things keep falling and reach a certain level he will be in negative territory on one of them - as leveraged up. He has 2 properties and should be ok, but imagine people who have many and are highly leveraged
  2. Jabbabhoy

    To buy or not to buy???

    Great response, I like your answers. I think we have found somewhere that will be good for us to stay for medium to long term. Looking at securing the longest deal possible i.e. 10 year if we can for stability. Thank you
  3. Jabbabhoy

    To buy or not to buy???

    You believe remaining will cause prices to fall?
  4. Jabbabhoy

    To buy or not to buy???

    If there is a no-deal brexit there will be some short-term pain on both sides of the channel IMO. How long this goes on for is anyones guess. What I think we might see is the pound slumping and interest rate rises to protect it, by what magnitude is , again, is anyones guess
  5. Jabbabhoy

    To buy or not to buy???

    I don’t actually think things will go higher if Brexit doesn’t happen, I think people have been stretched enough. if Brexit happens and there is a run on the pound rates might have to go up quickly
  6. Jabbabhoy

    To buy or not to buy???

    Basically you are suggesting that sellers will be getting desperate pretty soon?
  7. I think I will know the general consensus on this forum. Me and the missus are FTBs, looking to buy in London, we can afford a property and credit isn't an issue. Unfortunately we are in a situation where we have been renting for years and want to buy our own home, we have resisted for years due to the ridiculous prices since 2013. My main concern, or the most immediate risk, is Brexit. With it being so close it is a real risk. What are your opinions? If we remain would prices stabilise or rise? If we leave do they fall significantly? Tbh my head is spun by this all, be great to hear your opinions 👍
  8. I'm not sure how severe this will be, is there any indication who this will affect the most - what's a typical example of a bill heading to a landlord What is the exact date that a tax return gas to be filed?
  9. Jabbabhoy

    Converstaions with BTLs

    Have a friend who is a BTL, spoke for last 2 years about the tax chages....he still has no idea what they mean or the full implications.......they are all businessmen and women of course
  10. Makes sense. So once you file a return you pay immediately? The last date to pay is Jan 19, but what is the earliest? Getting excited by certain businessman realising that their venture is loss making and a depricating asset
  11. I understand the tax changes that are coming to landlords and have been watching this with interest. Could someone please explain to me when 1) landlords will initially understand what the tax changes mean to them in terms of ££££ 2) they will have to start forking out? Having not owned a business (I say this with a sarcism) I am not aware of tax year dates, when you have to file tax returns etc 👍
  12. Jabbabhoy

    2nd hand Help to Buy house? Ashford, Kent

    we have friends that moved this way as part of HTB, to them its a family home so even though they would be upset with loses its not the end of the world. But this is showing the real value of these properties. HTB = you can't afford somewhere, well we will give you a house you can we afford, topped up with a 20% loan on top that you can pay back in 5 years time. The logic of the whole thing is f*cked, you can't afford somewhere so here is an extra loan. The real value is minus the HTB loan on most cases
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