kingstonexpat

This is why if ordinary people like me inherit a chunk of cash, it seems the safest and most sensible investment to buy property and become a LL, rather than have 50 or 100k sitting in the bank devaluing. Where else can you park that money and earn 10% or more per year on that investment, slowly but steadily, essentially risk free? I can't blame those I've known who have done it, even as a private renter myself.

Indeed, it is a strange forum at times! The same poster goes on to say "All the changes ensure that the rich get richer and that the poorer get poorer" not realising that THEY, the rentier class, are part of the former not the latter -- given that they own at least 2 houses and usually rent to people who own none. Who will think of the poor landlords!

If you want to know what the average landlord thinks of all this, have a gander at the Open Rent forums sometime. I think the best post I've seen so far is one calling other LLs to arms over the new government rules about eviction etc. "the only way the government would listen would be if on a certain date all private landlords served their tenants an eviction notice and refused to re-let. This would cause a full blown housing crisis and then the government would be more reasonable." Um hmm right....

Wondered about this recently, having had a brief look at what our (privately rented) house sold for in the past as my OH and I were discussing whether we'd buy it if our LL was selling. Turns out it was "sold" on the day we moved in last year for about half what it's worth on the market. LL has a handful of BTL properties as a retired not-exactly-amateur LL, living off the income from them. Wonder who actually owns our property now -- guess I'd have to pay the Land Registry fee to find out

Yes it did strike me as not entirely legal or a good idea. Company is here, https://prestigiousstays.co.uk/home/

First post, been lurking for some time. Saw this today on local FB group and my jaw dropped. How can this be legal? Hadn't seen this scheme before so thought I'd ask. He further comments in reply to a question: "Yes… due to the nature of my company and the way we manage property, our landlords can offset their monthly mortgage payments against their income. Since Section 24 came in to operation, landlords have not been able to offset their mortgage against their income. This means they are paying tax on their turnover - not their profit. We enable landlords to offset their mortgage again which vastly increases their profit."