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Have Your Say For 'autumn Statement'

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1% LVT for all residential property (including land with residential planning permission) to be paid by the owner.

Phased abolition of SDLT over the next 3 years.

Abolition of WTC for all.

Lower the benefits cap to £16K per person and £22K per household.

CGT on all property sold within 24 months of purchase, irrespective of whether it was a residence.

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1. Abolish Income tax for incomes up to £50K.

2. Restrict WTC to UK nationals, as first step

3. LVT bands, higher banding for BTL

4. Same level of benefit cap/HB throughout the country.

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To be honest, I'm half expecting a repeal of C24 and a BTL spunkfest, but maybe the phased withdrawal of all relief related to BTL mortgage interest would be nice.

Edited by Breowan

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Abolish tax credits

Abolish housing benefit except for the disabled and those over 70

Land value tax

Scrap help to buy in all forms and

Sack Mark carney immediately

Pretty much what I was going to post.

I still think may will get rid of carney soon

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The Bank of England's pension to be set by an average of that available to the staff of the top UK companies. That should help focus their minds.

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Ban IO mortgages. That's all it will take.

And insist banks allow LLs to issue 4 year tenancies.

This....either all on IO or no property debt on IO....totally unfair and unjust....special treatment for special people......yes and more secure tenancies, where families who pay their rent on time can settle in a home without the insecurity of being kicked out months down the line.......and a rent tribunal to check for unscrupulous landlords who keep upping rents because they can.;)

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Remove all tax relief on residential property loans

Abolish tax credits

Abolish housing benefit except for the disabled and those over 70

Land value tax

Scrap help to buy in all forms and

Sack Mark carney immediately

Can't fault the above but I added one bit as we do need a belt and braces approach.

The problem is that the UK is a country with high rental costs simply because it has been allowed to become so by a combination of stupidly high housing benefit and easily available btl loans.

You can't solve that by increasing the minimum wage to £9 unless you are going to trash the pound. So only solution is to pull the rug from those high rental costs using Brexit as the excuse

Edited by eek

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I doubt they will touch social spending this time as they need a fiscal boost.May will want rid of Carney and will probably want fiscal policy to boost the economy over monetary policy.

We might see the personal allowance boosted again and some changes to NI.Benefits might be moved to residency rules.You cant claim until 5 years etc.Could also be similar moves for the NHS.Welfare and the NHS are being destroyed due to mass immigration so its likely at some point backdoor restrictions will be used,but perhaps all after the next election.

An outside bet is more insurance within welfare,lower means tested benefits but insurance protection allowed on top.Iv heard from good sources they are looking at this as it would lower payments ,but they could sell it as providing more for people who "do the right thing",however its more likely a longer term vision,not for now.

BTL might see more squeeze.Its a sitting duck and i think government wants to push small time landlords out of the market (at least those who buy with a mortgage) to be replaced by big insurance companies etc.BTL is over as an investment for the ordinary man/woman on the street i think.

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Given the requirements implicit within:

  • revenue implications for the Exchequer
I think we can safely say that suggestions that increase the tax take while reducing the need for HTB and making house buying a possible dream for more people would make our suggestions above far more acceptable than a BTLer's plea of please don't bankrupt me plea.... Edited by eek

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Based on the actions of the BoE post BrtExit, the amount of property owned by the Cabinet and the crazy spending currently going on by government, I think it'll be EVEN MORE support for the insanity that is the world housing mega bubble

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I doubt they will touch social spending this time as they need a fiscal boost.May will want rid of Carney and will probably want fiscal policy to boost the economy over monetary policy.

We might see the personal allowance boosted again and some changes to NI.Benefits might be moved to residency rules.You cant claim until 5 years etc.Could also be similar moves for the NHS.Welfare and the NHS are being destroyed due to mass immigration so its likely at some point backdoor restrictions will be used,but perhaps all after the next election.

An outside bet is more insurance within welfare,lower means tested benefits but insurance protection allowed on top.Iv heard from good sources they are looking at this as it would lower payments ,but they could sell it as providing more for people who "do the right thing",however its more likely a longer term vision,not for now.

BTL might see more squeeze.Its a sitting duck and i think government wants to push small time landlords out of the market (at least those who buy with a mortgage) to be replaced by big insurance companies etc.BTL is over as an investment for the ordinary man/woman on the street i think.

Just asked on the 'Council sponsored BTL' thread if there is 'SMI phase out' plan? If you don't keep up with your repayments you would end up in a shared ownership with an HA. You get to keep your equity and HA gets rent on the part you don't own.

Edited by Fairyland

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What I'd like to see?

The BoE's independence revoked.

The post-Brexit rate cut reversed.

A formal timetable to unwind QE.

Carney's peremptory dismissal.

What do I expect to see?

spend spend spend spend spend spend spend

spend spend spend spend spend spend spend

spend spend spend spend spend spend spend

spend spend spend spend spend spend spend

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Just asked on the 'Council sponsored BTL' thread if there is 'SMI phase out' plan? If you don't keep up with your repayments you would end up in a shared ownership with an HA. You get to keep your equity and HA gets rent on the part you don't own.

The SMI changed back to a 39 week wait back in April but the SMI as a loan isnt in yet.Im not sure on how its going to work ,though i presume a 2nd charge.The question is how does the loan function?.What is the payback threshold and monthly % pay back rates,and is there ever a point where a property sale is forced.?

We should get more info before next April,unless they quietly drop it.

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The SMI changed back to a 39 week wait back in April but the SMI as a loan isnt in yet.Im not sure on how its going to work ,though i presume a 2nd charge.The question is how does the loan function?.What is the payback threshold and monthly % pay back rates,and is there ever a point where a property sale is forced.?

We should get more info before next April,unless they quietly drop it.

I dont think they will drop SMI changes. Not sure how banks will react - bity rtigger happy with having other charges on a a mortgage.

Gidiot was an innumerate moron. The likes of Hinkley and not dismantling tax credits are the reason he's been booted out.

Buyt he wasnt a bullying, innumerate moron trying to bribe people to vote for him a la Brown.

I rteckong the TC hours will go up. I reckon the benefit cap will crank down. They might not directly cut TCs but theyll cap them.

I can be 99.9999% inwork benefits and HB will go for non UK nationals.

Whether they go the whole hog and inist of private health insurance and paying for school frees @ 7K/year Im not sure.

Either way theres going to 2-3m rentals on the market.

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Ban BTL mortgages.

Ban IO mortgages.

Ban mortgages with LTV of greater than 90%

There's not need to ban any ofthose.

A bank needs to hold 100% ofthe cpaital of a a nonamortising loan. Its that simple. The funding on an IO loan then goes north of 10%

BTL is a business laon. Its needs to charged/risked accordingly - 8% IRs.

Ditto for high LTV - the bank needs to hod more capital.

WIth Basel 3 coming, 80%+ LTV will become very rare and expensive.

IO loans will disappear.

BTL will become much more expensive.

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I dont think they will drop SMI changes. Not sure how banks will react - bity rtigger happy with having other charges on a a mortgage.

Gidiot was an innumerate moron. The likes of Hinkley and not dismantling tax credits are the reason he's been booted out.

Buyt he wasnt a bullying, innumerate moron trying to bribe people to vote for him a la Brown.

I rteckong the TC hours will go up. I reckon the benefit cap will crank down. They might not directly cut TCs but theyll cap them.

I can be 99.9999% inwork benefits and HB will go for non UK nationals.

Whether they go the whole hog and inist of private health insurance and paying for school frees @ 7K/year Im not sure.

Either way theres going to 2-3m rentals on the market.

I wouldnt often defend Osborne,but to be fair he did try to reform tax credits,but the BBC and the Lords stopped him.He did manage to get the two child limit through in another bill,and took away the family premium £10.50 a week).I think your right on the fact tax credits and HB will go for none UK nationals,probably by introducing a residency time limit.The benefit cap is actually a good policy as it limits the top end not the bottom.It would be far better if it was brought down to £15k,though i expect they will keep it at £20k for the next 9 years and let inflation cut it.They might also cap in work benefits to say £25k (including wages,benefits etc),though again likely after the next election.

Like you say hours rules are a very good way to cut the bill,without making much fuss,though with the cough cough change to Universal Credit hours rules dont count.

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I wouldnt often defend Osborne,but to be fair he did try to reform tax credits,but the BBC and the Lords stopped him.He did manage to get the two child limit through in another bill,and took away the family premium £10.50 a week).I think your right on the fact tax credits and HB will go for none UK nationals,probably by introducing a residency time limit.The benefit cap is actually a good policy as it limits the top end not the bottom.It would be far better if it was brought down to £15k,though i expect they will keep it at £20k for the next 9 years and let inflation cut it.They might also cap in work benefits to say £25k (including wages,benefits etc),though again likely after the next election.

Like you say hours rules are a very good way to cut the bill,without making much fuss,though with the cough cough change to Universal Credit hours rules dont count.

Gidiot was too slow and trying to be too clever, which fell apart with Brown's cronies stuffed in the Lords.

TC hours should have been increased by 5h a week for 4 years - get qualifying hours to 35.

Im waiting on the TC + HB limitations for non nationals. My guess is the spent must be a few billion.

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