Jump to content
House Price Crash Forum

Tester

Members
  • Content Count

    104
  • Joined

  • Last visited

About Tester

  • Rank
    HPC Poster
  1. Location, Location, Location will be filming in Horsham on 15 August. Time to dust off the old telescopic sight Horsham Forum
  2. I used to believe there would be a crash. Now I believe in stagnation. Marina is correct. If you want a crash target BTL. Campaign to change the tax rules that allow cascading property portfolios to be created. But, given the apathy of those priced out I just don't see the rules being changed. Even if there was a crash it would just be a BTL buying opportunity.
  3. A significant day. I was out for Sunday Lunch with a family friend - a property bull. The conversation turns to the inevitable. "We've reached a turning point ..." he says. "Oil prices, rising interest rates ... Japan have raised theirs you know..!". He had read the Sunday Times article and listened to Radio 2 on Friday lunchtime when Martyn Lewis was talking about a property crash. He is your average guy. He is my general public thermometer. He's gone cold.
  4. It's that time of the month. What they are really saying is: "Please do not raise interest rates."
  5. Your MP is pushing schemes that prop up the market whilst not addressing the real issue. A speculative Buy to Let frenzy has given some investors a highly geared multiple property portfolio. That frenzy, on the back of low interest rates, has driven prices up. The solution is simple. Make BTL less attractive. Remove the stimulus for a cascading property empire: 1. Remove tax relief on mortgage interest payments. 2. Methods are introduced that ensure the Inland Revenue knows who is a landlord. If you want a focused campaign/message then that is it.
  6. Once the public realises the damage that BTL does then the government will change the tax rules to make it less popular. We haven't got there yet ....give it time.
  7. To the moderators: Can we have a gallery to put our published letters in? Now, a challenge to all HPC'ers: get a letter published in your local rag and show it here.
  8. Well, there may be at least one other HPC'er in West Sussex:
  9. Last week the front page headline of the West Sussex Gazette was that 70% of people were priced out of the housing market. This week there were two letters responding. Here is the first:
  10. You are missing the point entirely – whether the tax system favours OO or BTL more is irrelevant. The point is that the tax rules make BTL attractive. Given the artificially restrictive supply of housing in this country why should BTL be treated as any other business when it comes to tax benefits? The thought of removing mortgage interest tax relief strikes fear into the average highly geared landlord. I suggest a campaign to: 1. Have a tenant registration scheme which identifies landlords to the Inland Revenue. 2. Reduce mortgage interest tax relief on BTL properties – allowing a percentage only. 3. Reduce Capital Gains Tax relief benefits eg. Reduce the period of relief from three years to one year for properties that were formerly Principal Private Residences. This would discourage people who can’t sell their house defaulting to be landlords. 4. Reduce stamp duty to make buying costs less so not restricting worker mobility. Landlords won’t like it.
  11. Yes. I had a reply from them on that very point. They truly believe inflation is low. An extract from their email reply is below:
  12. Again, I concur with TTRTR. If there is a large fall in house prices the BTL landlords, including me, would get in there before the First Time Buyers. What are you going to do to stop me buying your future home? To stop BTL the tax incentives must be stopped.
  13. TTRTR is absolutely correct. I keep harping on about this but until those tax rules are changed BTL wins. Lobby your MP to get the rules changed.
  14. Just finished. It started ok. Chris Evans & business reporter commented that Halifax numbers are out. She remarked that it was not great news as high house prices only benefitted those at the end of the chain. Martin Ellis interviewed with usual sound bytes. Mentioned interest rates "should be stable over the next few months" ... but may go up later this year. Reporter said she had just been gazumped. That was it. I still emailed chris.evans@bbc.co.uk to give him my views!
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.