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House Price Crash Forum


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Everything posted by kilroy

  1. The report is written in the same way as her numerous emails to MPs/treasury officials/shelter etc I.e. In a way that ensures that no-one would want to read past the first paragraph or so.
  2. It's almost like a super targetted land value tax akin and to HMRC saying "you're a leveraged landlord thus you'll become a higher rate tax payer)
  3. Also, section 5 seems to say that SME supporting factor does not apply to loans on residential property used to "support a buy to let business"
  4. 3.3b is a killer if the lender chooses to implement...basically a lender has to take into consideration the mortgage interest relief tax liability on a landlord's whole portfolio if he has over 4 properties.
  5. Also, they are quoting rent rises over a period when Ireland adopted the EUR. I seem to recall double digit inflation or so around the period as everyone rounded up their prices when repricing from punt to eur
  6. So the immediate post-brexit surge was probably to do with everyone bringing forward purchases before the weakened sterling level was reflected in higher prices for imports? Who'd have thunk it!?
  7. Also, it appears that there are anti forestalling measures implemented from March 2016, thus could be that even if Mark is getting rid of them prior to the rule coming in, he could still be stung.....
  8. Could this be the final nail in the BTL coffin......? Capital gains on BTL disposal to be treated as income for tax purposes!? https://www.property118.com/capital-gains-on-btl-to-be-taxed-as-income/89928/ I haven't verified if true or not though
  9. http://www.telegraph.co.uk/personal-banking/mortgages/another-lender-clamps-down-on-landlords---but-could-brexit-rescu/ It seems the answer is "yes", and I was expecting the reasoning to be that a new chancellor may repeal Clause 24 and additional stamp duty.... Edit: just to clarify, I don't believe it, but thought it was a hilarious piece, especially imagining epxpectant look on a 118er's face become one of terror as they realise that it won't save their leveraged @rses.
  10. http://www.ft.com/cms/s/0/5afcbee0-f67b-11e5-803c-d27c7117d132.html#axzz44OYaRWe2 google "UK property funds see biggest outflows since 2008" to get around fire wall.
  11. Maybe he's happy because he will not have to pay CGT in Malta (or indeed in the UK as there won't be any capital gains....!)
  12. True. The 125% thing is something that the lenders do themselves for risk management. It could be that the 25% of the "125%" was the lenders' way of accounting for tax/management/voids etc which seems way outdated now. HOwever, I do believe that lenders will have a hard time justifying anything less than 100% interest coverage, which would still put required gross yields in double figures.
  13. 6.9% is just 5.5% * 1.25. However it looks like this is to include the running costs and tax thus is the hurdle for the net yield, as opposed to gross. When you consider the removal of interest relief, I am guessing you need double digit gross yields to even be considered for a BTL mortgage.....
  14. Looks like HMRC are going after the leveraged landlords and BoE are going after the purveyors of such leverage...
  15. if they are taking tax into consideration plus running costs then that means, if affordability is tested against rates of 5.5%, a property *has* to clear a *net* yield of 6.9%.......
  16. He's busy quietly unwinding his portfolios while his thicko forum members wait for Osborne to see the light......
  17. Some guy was on property118 pointing out that BTL activity could be split into 2 activities; one was property management and the other was investment. He pointed out that hmrc could make the argument that the trading/business that btl was engaged in (property management) could be offset against rental income from the investment side, but that the market price of property management was at most 15% of the rental income. As a result, it would cost Hmrc nothing to make the argument as this cost is deductible anyway, which leaves the "btl is a business and interest should be deductible" argument of the landlords in ruins.
  18. Well done, you...! I mean it, a very *very* well done for not killing anyone ...!
  19. Phil, (or any other landlord) genuine question here: is it possible for an individual landlord to not pay NIC but still take the rent as income? I guess in this case it would be classed as investment income?
  20. We should methodically knock down everyone of Mark's suggestions. For example, his assertion that landlords should be eligible for the rent-a-room scheme to level the playing field However, a tenant is already eligible to sub let a room in his rental on the rent a room scheme (subject to tenancy agreement). What he seeks is a further erosion of tenants rights under the auspice of a level playing field.
  21. good luck getting the 90% at completion out of a chinese mainlander if the price has plummeted.....
  22. 2.114 Support for Mortgage Interest (SMI) – During the recession, the SMI scheme was temporarily set at a higher capital level with a shorter waiting period. Summer Budget 2015 announces that, from 1 April 2016, the SMI waiting period will return to the pre-recession length of 39 weeks, but the capital limit will be maintained at the higher level of £200,000. From April 2018, new SMI payments will be paid as a loan. Loans will be repaid upon sale of the house, or when claimants return to work. Payments will accrue interest at a rate tied to the OBR forecast of gilts. (49)
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