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Why Are Btl Landlords Backing Andrea Leadsome?

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Because she has 2 BTLs.

But then most MPs have as well, so I think they're pissing into the wind a bit, if they think she'll grant everyone a free-for-all BTL binge.

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https://www.property118.com/could-post-brexit-government-be-landlords-dream-team/88457/

"We know for sure Andrea Leadsome would support us."

Anyone know why Property 118 thinks that Andrea Leadsome might overturn S24?

No.

But she's a bankster by background. Maybe the line of reasoning is something like "she's very financially literate, so she'll want to get rid of this nonsense".

If that's the reasoning, I'd say they're more likely to be right on the stamp duty - whose complexity is classic Osbrownomics - than on the income tax element.

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If Ros and co are going to write her letters about the BTL tax changes, they could at least spell her name correctly. So far they have tried "Leadson" and "Leadsome". It's actually "Leadsom".

In fact if she becomes Prime Minister or Chancellor, the fact that she is a BTLer herself surely stops all possibility of reversing the BTL tax changes? She'd be roasted in the press for conflict of interest.

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In fact if she becomes Prime Minister or Chancellor, the fact that she is a BTLer herself surely stops all possibility of reversing the BTL tax changes? She'd be roasted in the press for conflict of interest.

To be honest, if she becomes PM, then BTL for her will be irrelevant compared to other earning opportunities.

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If Ros and co are going to write her letters about the BTL tax changes, they could at least spell her name correctly. So far they have tried "Leadson" and "Leadsome". It's actually "Leadsom".

In fact if she becomes Prime Minister or Chancellor, the fact that she is a BTLer herself surely stops all possibility of reversing the BTL tax changes? She'd be roasted in the press for conflict of interest.

I don't think Leadsom would thank the BTL massive for bringing her troughing to wider public attention. It might actually be quite funny if she's forced to distance herself from the rentier class.

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I don't think Leadsom would thank the BTL massive for bringing her troughing to wider public attention. It might actually be quite funny if she's forced to distance herself from the rentier class.

Would she really base per decisions on what would be trifling financial issues to her as PM? (PMs earning abilities surely reach further than BTL, right?!)

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In fact if she becomes Prime Minister or Chancellor, the fact that she is a BTLer herself surely stops all possibility of reversing the BTL tax changes? She'd be roasted in the press for conflict of interest.

The press have roasted the Blairs for some things. But not over property.

If she were prime minister, she'd not be the one making those decisions. Can't see the press having much appetite to drag a PM into them one way or the other.

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Would she really base per decisions on what would be trifling financial issues to her as PM? (PMs earning abilities surely reach further than BTL, right?!)

I think the issue's more that if she thought it was ethically fine to get into BTL herself, why if she gained power would she go after other BTL landlords who are doing the same? Not exactly a clear marker of somebody who is concerned with intergenerational fairness in housing.

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Osbourne? Leadsome?

What the ****** is up with these people?

An intoxicating mixture of ignorance, stupidity, sociopathic tendencies and twenty years of the the 'market' providing empirical validation of the supposition that their dumb as shit madness is in fact the only game in town

I think the issue's more that if she thought it was ethically fine to get into BTL herself, why if she gained power would she go after other BTL landlords who are doing the same? Not exactly a clear marker of somebody who is concerned with intergenerational fairness in housing.

Never project intelligence onto the unintelligent or rationality onto the mad. F**k knows what they think. What is operative is why they think it. The only ones who broadcast are the ones who intend to stay at the table. The rationalisations of idiots have no internal logic and no intrinsic merit. Essentially they want Leadsom because they think she offers them the best possible chance of their bet paying off. It's most likely a group psychology marker. They've identified her as one of them. They also still see themselves as the banks' most favoured borrowers (and not the banks' patsies) so the banker thing is probably another in group marker (mortgage lending is good and it's the banks who lend the mortgages so the bankers are good too).

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Never project intelligence onto the unintelligent or rationality onto the mad. F**k knows what they think. What is operative is why they think it. The only ones who broadcast are the ones who intend to stay at the table. The rationalisations of idiots have no internal logic and no intrinsic merit. Essentially they want Leadsom because they think she offers them the best possible chance of their bet paying off. It's most likely a group psychology marker. They've identified her as one of them. They also still see themselves as the banks' most favoured borrowers (and not the banks' patsies) so the banker thing is probably another in group marker (mortgage lending is good and it's the banks who lend the mortgages so the bankers are good too).

I was talking about what Leadsom herself might be thinking, not the Property118 crowd.

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I don't think the possibility - that the BTL tax changes are watered down - shouldn't be entirely discounted. I remember watching a Treasury Select Committee meeting a couple of months ago where Tyrie suggested that the changes could be deferred or softened in the event of a market slow down. As I recall, Osborne avoided answering the question.

Whether the deferment or softening of these changes in the current environment would make any difference to prices is another matter. I find it hard to believe that property investors are not pausing for thought in light of brexit vote and subsequent discussions around the free movement of people and possible economic slowdown.

Separately, I've not seen it discussed but I found Gove's speech yesterday very interesting. He said something along the line of "not taking no for an answer" regarding the building of new homes. Add this to an Australian points system and can you imagine what that would do to the housing market!? i.e. the credible commitment to build new homes perhaps via use it or lose it planning permission allocation. Seems to me that Gove is the HPC candidate.

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Thetax changes just clarify an dxisting principle - individuals cannot leverage up and discount the IR cost from the income.

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I think the issue's more that if she thought it was ethically fine to get into BTL herself, why if she gained power would she go after other BTL landlords who are doing the same? Not exactly a clear marker of somebody who is concerned with intergenerational fairness in housing.

I thought she performed well in the debates but this article is interesting and probably explains povertylater's excitement.

The revelations are particularly embarrassing as Ms Leadsom now has overall responsibility for the Government’s controversial Help to Buy property scheme – which has faced accusations of creating another house-price boom and pushing property ownership out of the reach of lower-income families.

http://www.independent.co.uk/news/uk/politics/revealed-how-city-minister-andrea-leadsom-used-controversial-trusts-to-reduce-her-potential-

9268469.html

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She shows where her sentiments reside in this article,

http://www.andrealeadsom.com/working-for-you/andrea's-blog/problems-at-bradford-and-bingley-mark-a-shift/135

"I think mortgage lenders can and should help homeowners and buy to let businesses as a matter of urgency"

​And, as has already been pointed out, Leadsom also had overall responsibility for Help To Buy

https://www.lettingagenttoday.co.uk/537-help-to-buy-minister-in-offshore-btl-row

"The government minister with overall responsibility for Help to Buy is being accused of sailing pretty close to the wind by using offshore banking arrangements for her buy-to-let property company. Andrea Leadsom, the City minister and a former Barclays banker, is reported to have placed her shares in the property company Bandal - created by the minister and her husband - into trusts for the benefit of her children. The Independent newspaper claims this is a move that is commonly used to avoid inheritance tax.

The newspaper makes clear that there is no suggestion that Leadsom's schemes are unlawful. But the City minister's former use of offshore banks to service her personal buy-to-let property business is uncomfortable for the minister and her boss Mr Osborne, who has criticised tax avoidance schemes and railed against the use of offshore banking arrangements claims the paper."

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She shows where her sentiments reside in this article,

...

Interesting stuff. I think you've closed the file on the question in your OP!

Didn't loads of the PovertyLater chaps make a big brouhaha about quitting the Conservative Party back in July 2015 as a way of protesting against the mortgage interest taxation changes in the Summer Budget. That looks to have been something of a tactical error right now.

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I was talking about what Leadsom herself might be thinking, not the Property118 crowd.

OK, but as the question in the OP was what are the PovertyLater chaps thinking I assumed that you were making a stab at what they were thinking.

If you were just separately thinking about who is likely to be the best BTL candidate and by coincidence decided to post your thoughts under the OP's question then I apologise for getting my wires crossed, though I think that I could reasonably argue that you played your part in the whole wires crossed thing.

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She shows where her sentiments reside in this article,

http://www.andrealeadsom.com/working-for-you/andrea's-blog/problems-at-bradford-and-bingley-mark-a-shift/135

"I think mortgage lenders can and should help homeowners and buy to let businesses as a matter of urgency"

​And, as has already been pointed out, Leadsom also had overall responsibility for Help To Buy

https://www.lettingagenttoday.co.uk/537-help-to-buy-minister-in-offshore-btl-row

"The government minister with overall responsibility for Help to Buy is being accused of sailing pretty close to the wind by using offshore banking arrangements for her buy-to-let property company. Andrea Leadsom, the City minister and a former Barclays banker, is reported to have placed her shares in the property company Bandal - created by the minister and her husband - into trusts for the benefit of her children. The Independent newspaper claims this is a move that is commonly used to avoid inheritance tax.

The newspaper makes clear that there is no suggestion that Leadsom's schemes are unlawful. But the City minister's former use of offshore banks to service her personal buy-to-let property business is uncomfortable for the minister and her boss Mr Osborne, who has criticised tax avoidance schemes and railed against the use of offshore banking arrangements claims the paper."

It sounds like she may have been the driving force behind the Cameron Government's manipulation of the housing market.

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Politicians' sentiments have a remarkable way of changing with public opinion. I'm not being blasé about the potential for her to support buy-to-let if she is elected (she has a very good chance of being made Chancellor, if not Tory leader). But I think support in the past does not necessarily equate to support in the future and she will be aware that the climate on landlords has become rather more polarised.

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... Essentially they want Leadsom because they think she offers them the best possible chance of their bet paying off. It's most likely a group psychology marker. They've identified her as one of them.

I wouldn't totally rule out a BTL friendly PM being able to keep things sweet for the BTLers/HPIers. I have some concern, although still believe any moves there will be overwhelmed by necessity in the economy to allow housing market to fall back.

At a wider level the BTLers bets have already 'paid off' plenty, big-time jackpot, for so many of the BTLers. Multi-decade housing financialisation hpi+++++. They won. Still collecting the rent from everyone in my family who've only known market of runaway HPI and any notion of homeownership crushed. BTLers always there to outbid them, year after year. What is it... 1 in 5 houses now owned by a BTLer? £700K main homes, and loads of BTLs. Sweetybag rules-of-property-investment, multiple BTLs.

New all-time highs for FTB P/E ratio in Nationwide's London and Outer Met regions in Q2 2016:

East Anglia, Outer SE and South West are also at all-time highs.

Although the noose could be tightening, as you have set out over the last few years with your forecasting; experienced a hundred pieces of evidence and understood; reasoned, extrapolated and concluded..

'If something can't go on forever it will stop' - under the bus as done to millions of renter-savers. "Quid pro quo - a universal law of the marketplace, which Nature Herself will reckon if it is bent/broken long enough!" . S24/ 3% BTL stamp duty hike, lenders moving to protect their positions with higher stress rates, sterling drop losses on recent foreign speculators. BoE suggesting there are limits to what they can do to maintain the party. SDLT 3% hike in effect already. S24.

"We’ve seen a tightening of criteria and a tightening of stress rates which is already resulting in a drop in case numbers. After the consultation period every lender that hasn’t already moved, will have to move. This will create buy-to-let mortgage prisoners – some of them will find it difficult to remortgage."

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She shows where her sentiments reside in this article,

http://www.andrealeadsom.com/working-for-you/andrea's-blog/problems-at-bradford-and-bingley-mark-a-shift/135

"I think mortgage lenders can and should help homeowners and buy to let businesses as a matter of urgency"

Note - that's "businesses" - incorporated or limited - and not "individuals" or "investors" ;)

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A banking family into BTL, she could go all the way to the top.

Bandal – the buy-to-let firm created by the former City high-flyer, 50, and her husband, another ex-banker

http://www.independent.co.uk/news/uk/politics/revealed-how-city-minister-andrea-leadsom-used-controversial-trusts-to-reduce-her-potential-9268469.html

Another Leadsom at Bandal now

https://companycheck.co.uk/company/04871500/BANDAL-LIMITED/directors-secretaries

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