Btl Scum Regrouping And On The Offensive. -- Merged

[Fully Detached]

Today's RICS report is the current top story on BBC Business webpage

Buy-to-let surge 'raising house prices'

Without actually going over to MSE or P118, I imagine there are a whole load of posters on both sites who are absolutely ecstatic at this news, not realising that they have been the only buyers in town for the last few years, and that the only buyers in town are about to get the hell out of Dodge in approximately 7 weeks.

Where does this leave them, do they think?

[Byron]

SO,

This RICS news confirms that Landlords push up prices.

It also challenges the concept that demand outstrips supply, in that demand is Landlord lead, after all, where are the hoards of homeless would be OOs?

[rantnrave]

SO,

This RICS news confirms that Landlords push up prices.

It also challenges the concept that demand outstrips supply, in that demand is Landlord lead, after all, where are the hoards of homeless would be OOs?

Exactly. A landlord and a potential FTB family both view a property. This gives the perception that the demand is greater than it is when in reality just the family will end up in there - either renting from the landlord after being outbid by them or as new owner occupiers.

[darkmarket]

"All I wanted to do was to have a portfolio of between twenty and thirty properties which will give me a sound income into my retirement."

Poor Douglas, only wanted 20 - 30 properties. They'd like him to go on the record as an unsuccessful, amateur, over-leveraged trader victim.

[Neverwhere]

Having begun the process by giving the Treasury and HMRC a detailed briefing regarding his affairs...

Ros 10/02/2016 at 19:44

Hi Mark

Someone has contacted me who is also thinking of going to live abroad as she has a large portfolio and faces potential ruin because of C24, but she said she has heard that if you have your main centre of activity in the UK, they will still count you as tax resident even if you spend most of the year in another country. I gather you know a fair amount about this – have you checked it out with the tax authorities? I can then hopefully reassure her.

Mark Alexander 10/02/2016 at 21:00

Reply to the comment left by “Ros .” at “10/02/2016 – 19:44“:

Hi Ros

Yes I’ve checked out my plans very thoroughly and I strongly recommend your friend to do the same because the rules are very complicated and everybody’s circumstances are different.

As well as taking professional advice in both Malta and the U.K. I also took the liberty of explaining my personal strategy to Megan Shaw at the HMRC when I met her at a meeting at The Treasury.

My wife and I will still be UK tax-payers in terms of the rental properties We retain in the UK but we will not pay UK tax on worldwide income, i.e. our rental properties in other countries and our Consultancy income which will all be earned and taxed in Malta (where will be resident for tax purposes) as of the next tax year.

Rhys Jones 10/02/2016 at 23:09

Reply to the comment left by “Mark Alexander” at “10/02/2016 – 21:00“:

“I spoke to Megan Shaw at the HMRC when I met her at a meeting at The Treasury”

So Mark, what was Megan Shaw’s reaction to Clause 24? I emailed her, she cam,e back with a pretty PC non descript reply. After my second email she said she had passed my comments and spreadsheets onto her colleages at the Treasury!!

I am getting angrier and angrier with this Govt. They seem to be dismissing everything apart from what THEY WANT TO IMPOSE!

Mark Alexander 11/02/2016 at 10:31

Reply to the comment left by “Rhys Jones” at “10/02/2016 – 23:09“:

Hi Rhys

Megan was really nice and obviously knows her stuff with regards to tax. However, the impression I got was that she was powerless to make changes or influence policy and merely follows orders.

She also passed on my concerns, as did the Policy Adviser to The Treasury who attended the same meeting. What really struck me was how young they both were, highly likely to be in Generation Rent rent.

[jfk]

Ros is ANGRY dontchyaknow

[Bear Hug]

"What really struck me was how young they both were, highly likely to be in Generation Rent rent." - that's just brilliant. At least nice to know that some landlords are honest about screwing us over.

[justthisbloke]

"What really struck me was how young they both were, highly likely to be in Generation Rent rent." - that's just brilliant. At least nice to know that some landlords are honest about screwing us over.

More likely to be HPC-anarchists than indebted PovertyLater boomers.

And until mental HPI ends, so it will be with all new politicians, civil servants, BOE staff, etc, etc, etc.

[thewig]

Ros is ANGRY dontchyaknow

To be fair to Ros I'd be ANGRY too if I and six million other innocents were murdered by Hitler's Nazi regime seventy years ago.

No wait thats not right is it, sorry I'm thinking of imminently-bankrupt, ranty-letter-writing, batshit-mental-leveraged-DEBT slumlords here. Not holocaust victims.

Always getting the two mixed up.

Edited February 11, 2016 by thewig

[Bland Unsight]

"Ask not what your landlord can do for you, ask what you can do for your landlord"

[Bland Unsight]

"Never in the field of economic endeavour was such a multitude of shit flats let by so few to so many. (Prolonged cheers.) All hearts go out to the HMO daddies, whose brilliant actions we see with our own eyes day after day but we must never forget that all the time, night after night, month after month, our BTL landlords squadrons travel far into the Welsh borders, find soiled underpants in the darkness by the highest navigational skill, fish them from light fittings, often disorientated by overpowering odours, often in serious danger of losing their lunch by violent emesis, and with deliberate, careful cleaning of trashed flats inflict shattering blows upon the whole of the technical and war-making structure of HPC numbskull anarchist power. (Cheers.)"

Edited February 11, 2016 by Idlewild

[Bland Unsight]

It's an easy mistake to make; death camps and losing some tax relief .... oh and the real shocker, having to have invoices for work done.

Anyway they have already won via either the success of the Judicial Review to reverse C24 or by putting the rent up. Win Win.

IIRC correctly they are also offering the analysis that now that the need to put the rent up has awoken them to the fact that they can, they're going to put the rent up even after they get Clause 24 reversed.

I think we can all see that Osborne made a big mistake messing with Busta, Bos Reck and Wing Commander Cooper. Now that Gary Dully has had a political awakening too, shit is going to get real, as they say in the vernacular.

For too long kindly BTL overlords have looked after their child-like tenants without a thought about their own needs - that is about to change. It's no more Mr Nice Guy from the boys and girls at PovertyLater.

[spyguy]

http://www.ft.com/cms/s/0/67d28d36-d0cc-11e5-92a1-c5e23ef99c77.html#axzz3zqItIjiy

'Businesses are preparing themselves for cuts to prized tax breaks for corporate debt, in a Budget crackdown that would raise hundreds of millions of pounds a year.

The move to reduce tax deductions for interest costs is likely to hit scores of multinationals, as well as companies in the utilities, property and private equity sectors.'

Good luck with the argument that over leveraged LLs are being singled out.

[goldbug9999]

http://www.ft.com/cms/s/0/67d28d36-d0cc-11e5-92a1-c5e23ef99c77.html#axzz3zqItIjiy

'Businesses are preparing themselves for cuts to prized tax breaks for corporate debt, in a Budget crackdown that would raise hundreds of millions of pounds a year.

So that makes incorporated high LTV BTL a non starter then.

[spyguy]

So that makes incorporated high LTV BTL a non starter then.

In short, yes.

[spyguy]

What did Jim Morrison say?

'No here gets out alive'

[Philby1]

"All I wanted to do was to have a portfolio of between twenty and thirty properties which will give me a sound income into my retirement."

Poor Douglas, only wanted 20 - 30 properties. They'd like him to go on the record as an unsuccessful, amateur, over-leveraged trader victim.

So poor old 20 BTL Douglas only wanted to live off the backs of more than likely say 35 people's wealth creation to eek out a living, surely even this model must be looked upon as utter debt leveraged madness by the poverty118 crowd? Nope he's a landlord and therefore been truly picked on, it's totally unfair and what a guy providing such security and warmth for families!...... Unless the poster is an undercover HPC's testing the madness limits of their twisted logic?

[Fully Detached]

So poor old 20 BTL Douglas only wanted to live off the backs of more than likely say 35 people's wealth creation to eek out a living, surely even this model must be looked upon as utter debt leveraged madness by the poverty118 crowd? Nope he's a landlord and therefore been truly picked on, it's totally unfair and what a guy providing such security and warmth for families!...... Unless the poster is an undercover HPC's testing the madness limits of their twisted logic?

Yes, but give him a break, one of his reasons for doing it is to enable some of his kids to be able to have a house when 'ole Doug and his wife finally shuffle off this mortal coil, because they'd never manage to buy one otherwise. I'm guessing Doug counts the failure to join two very large dots with a very short line amongst his disabilities.

Still, if he is undercover HPC, they've fallen for it hook, line and sinker over there

[TheCountOfNowhere]

[Neverwhere]

What did Jim Morrison say?

'No here gets out alive'

[Assume The Opposite]

@ TheCountOfNowhere: I think we should put your fabulous picture onto every single rental advert on rightmove.... and have something like:

This is your potential landlord, they have bought some BTL's.

The landlord claims it's their pension.

The landlord wants you to rent their shitbox in exchange for free money.

The landlord want prices to go up so you can't buy a house

The landlord doesn't understand simple maths

The landlord is insolvent but doesn't know it

Don't be like your landlord.

Still want that viewing? Serf? Feel free to amend as appropriate

[Tapori]

Brilliant!

[eric pebble]

Yes, but give him a break, one of his reasons for doing it is to enable some of his kids to be able to have a house when 'ole Doug and his wife finally shuffle off this mortal coil, because they'd never manage to buy one otherwise. I'm guessing Doug counts the failure to join two very large dots with a very short line amongst his disabilities.

Still, if he is undercover HPC, they've fallen for it hook, line and sinker over there

You've made my day with that post. Just SUPERBLY funny.

[Fully Detached]

You've made my day with that post. Just SUPERBLY funny.

And that's just made mine - glad you enjoyed it

[19 year mortgage 8itch]

Grumpy sod,

Tell them to smell my cheese

I have to post this, I'm wetting myself here.

Edited February 12, 2016 by 25 year mortgage 8itch