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pipllman

There Is More To Come From The Government Against Btl

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https://www.lettingagenttoday.co.uk/breaking-news/2015/10/leading-tory-warns-much-further-to-go-on-removing-buy-to-let-tax-breaks

Then he moves on to buy to let by stating: "As well as energy prices and broadband access, there is a huge discontent about housing provision."

He goes on: "We need to reclaim the mantle of the party of home ownership and to do that we no only [need] to build more houses but ensure they are available for people to buy. Too many new houses and flats are immediately snapped up by buy to let landlords and never become available for first time buyers.

Then he makes a reference to the announcement in the July Budget by Chancellor George Osborne that mortgage interest and wear and tear tax breaks for landlords would be restricted.

Green writes: "I am delighted that we have taken the first steps towards removing the tax advantages for buy to let but I suspect there is much further to go (and therefore more political courage required.)"

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There's (long) over due LA regulation of the PRS. That's driver by local rather than central government. When you see some of scams by both letting agents and LLs you understand why.

There will be a continuing chipping away at LHA. You can expect ~5% reduction, year in year out. Even better would be to align LHA to local wages.

You'd see London collapse and average rents in places like Middlesbrough and Blackpool drop to £200/month.

There will be the reductions in tax credit magic money, which will impact rents.

The big 50/50 question is Brexit, which will see 1M leave the UK and another 4M no longer get housing benefit and tax credit money, whihc will effectively force them to leave.

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sounds like an estate agent Dave advert, best get in there with our 20% over asking price offer before the buy to let lot get it.

are they about to do help to buy 3 ( return of the first time buyer)

they can stop buy to let tomorrow, they fund the banks.

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sounds like an estate agent Dave advert, best get in there with our 20% over asking price offer before the buy to let lot get it.

are they about to do help to buy 3 ( return of the first time buyer)

they can stop buy to let tomorrow, they fund the banks.

the banks fund them though!

"David Cameron will be challenged over the long-standing links between scandal-hit HSBC and the Conservative Party, after Electoral Commission records showed three senior bank figures have donated £875,000 to the party in recent years.

As Downing Street came under more pressure over this week’s revelations that the bank allegedly helped wealthy individuals evade tax through Swiss accounts, it was revealed that HSBC’s deputy chairman, Sir Simon Robertson, has made 24 separate donations totalling £717,500 in the last nine years.

He gave 17 donations to the Conservative Central Office between 2002 and 2014, and four totalling £100,000 to George Osborne between 2006 and 2009. The other three went to the party in East Hampshire. Sir Simon, who was knighted in 2010, is reported to have a personal wealth of £10m."

http://www.independent.co.uk/news/business/news/hsbc-leaks-david-cameron-faces-grilling-over-party-links-with-scandal-hit-bank-10037157.html

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the banks fund them though!

"David Cameron will be challenged over the long-standing links between scandal-hit HSBC and the Conservative Party, after Electoral Commission records showed three senior bank figures have donated £875,000 to the party in recent years.

As Downing Street came under more pressure over this week’s revelations that the bank allegedly helped wealthy individuals evade tax through Swiss accounts, it was revealed that HSBC’s deputy chairman, Sir Simon Robertson, has made 24 separate donations totalling £717,500 in the last nine years.

He gave 17 donations to the Conservative Central Office between 2002 and 2014, and four totalling £100,000 to George Osborne between 2006 and 2009. The other three went to the party in East Hampshire. Sir Simon, who was knighted in 2010, is reported to have a personal wealth of £10m."

http://www.independent.co.uk/news/business/news/hsbc-leaks-david-cameron-faces-grilling-over-party-links-with-scandal-hit-bank-10037157.html

Thats up there with the HTB give away to the house builders who donate to their party.

This is just fraud IMHO.

I am happy to buy a house...when the free market becomes free.

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The big 50/50 question is Brexit, which will see 1M leave the UK and another 4M no longer get housing benefit and tax credit money, which will effectively force them to leave.

Don't get me too hopeful. I don't think we've got a hope in hell in voting to leave. I know which way I am voting though.

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This is an extract from the OBR assessment of the budget (http://cdn.budgetresponsibility.independent.gov.uk/July-2015-EFO-234224.pdf) that also makes me think there is likely more to come from the government on housing, specifically BTL - my bold

"There are a number of measures that could affect the housing market. The introduction of a ‘main residence nil rate band’ in the inheritance tax regime is likely to increase the incentives for housing purchases and to discourage individuals from selling their homes. On the other hand, the restriction in mortgage interest rate relief to the basic rate is likely to reduce returns to buy-tolet property. Overall, we estimate that these measures will have small and offsetting effects, and so we have not adjusted our forecast for house prices. Changes to the inheritance tax regime could make it more likely that the co-existence of under-occupation among older owners and over-crowding among younger renters will become even more prevalent. It is not clear to what extent that might affect regional labour mobility or other issues relevant to our macroeconomic forecast, so we have not made any adjustments on account of this."

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There's (long) over due LA regulation of the PRS. That's driver by local rather than central government. When you see some of scams by both letting agents and LLs you understand why.

There will be a continuing chipping away at LHA. You can expect ~5% reduction, year in year out. Even better would be to align LHA to local wages.

You'd see London collapse and average rents in places like Middlesbrough and Blackpool drop to £200/month.

There will be the reductions in tax credit magic money, which will impact rents.

The big 50/50 question is Brexit, which will see 1M leave the UK and another 4M no longer get housing benefit and tax credit money, whihc will effectively force them to leave.

I think the next thing we will see is LAs being allowed to keep any fines from prosecuting landlords. Once that change happens there will be a lot more incentive for LAs to actually improve their part of the PRS as it will be a money earner. At the moment any fines go straight into central government coffers so it's not really worth their bother.

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I think the next thing we will see is LAs being allowed to keep any fines from prosecuting landlords. Once that change happens there will be a lot more incentive for LAs to actually improve their part of the PRS as it will be a money earner. At the moment any fines go straight into central government coffers so it's not really worth their bother.

That's a great idea, and a triple win. Win for the LAs who get more money. Win for the tenants who get better housing. Win for the responsible landlords as the rogue scumlords are driven out and sent to prison.

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That's a great idea, and a triple win. Win for the LAs who get more money. Win for the tenants who get better housing. Win for the responsible landlords as the rogue scumlords are driven out and sent to prison.

better idea, give the money directly to the Tennant or tenants that suffered

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Big piece on BBC News this morning about slum landlords.

Noddy from the landlords association suggested that landlords should do more frequent checks on their properties to make sure there are no problems.

Personally, I prefer as little contact with my landlord as possible.

Edited by Bruce Banner

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