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Money Box Live: Buy to Let (28/06/2017)

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http://www.bbc.co.uk/programmes/b08vwn3r

Quote

Money Box Live: Buy to Let
Money Box

Louise Cooper would like to hear your views, experiences and questions about being a buy to let landlord. Call 03700 100 444 between 1pm and 3.30pm on Wednesday 28 June or e-mail moneybox@bbc.co.uk now. Standard geographic charges from landlines and mobiles will apply.

The end of mortgage interest relief, the loss of the so called wear and tear allowance and additional stamp duty charges on new property purchases may mean that landlords have to rethink their financial plans. Some landlords are being encouraged to set up a limited company to avoid the charges but how does it work and could it end up costing you more?

Stricter mortgage affordability assessments will also apply to landlords who own four or more properties from September 2017 limiting the overall amount you can borrow.

And what are the rules about tax and mortgages if you're a landlord thinking of letting a property through Airbnb?

Joining Louise Cooper to talk through the business of buy to let will be:

Carolyn Uphill, Chairman, National Landlords Association.
Anil Mohanlal , Chartered Accountant and Managing Partner, Kumar & Co.
David Hollingworth, from Mortgage Broker London and Country.

We'd love to hear your ideas. Call 03700 100 444 between 1pm and 3.30pm on Wednesday 28 June. Standard geographic charges from landlines and mobiles will apply. Or e-mail moneybox@bbc.co.uk with your thoughts and experiences.

 

Just heard advert for this on radio, some 'canny businessman' (aka BTLer) saying how the governments changes and the confusing tax arrangements (?) are making it difficult for him to operate his 'business' and he's going to consider selling up (obviously not going to 'give it away' ofc)

*gets worlds smallest fiddle*

 

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6 hours ago, jfk said:

http://www.bbc.co.uk/programmes/b08vwn3r

 

Just heard advert for this on radio, some 'canny businessman' (aka BTLer) saying how the governments changes and the confusing tax arrangements (?) are making it difficult for him to operate his 'business' and he's going to consider selling up (obviously not going to 'give it away' ofc)

*gets worlds smallest fiddle*

 

When the final quote from taken from an email from some BTL muppet bleating about a "culture of vilifying landlords" and government policies driving landlords "out of business".

 

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1 minute ago, Tapori said:

When R4 turn, you know it's game over.

The thing that really struck me is how bloody confusing it must be for punters. :D

The presenter asked the NLA representative if Section 24 was making BTL "financially unviable" and the response was "not completely".

invincible.gif?w=650

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2 hours ago, Bland Unsight said:

The thing that really struck me is how bloody confusing it must be for punters. :D

The presenter asked the NLA representative if Section 24 was making BTL "financially unviable" and the response was "not completely".

invincible.gif?w=650

Aye, it's the downfall parody plus any other last throws of the dice; Except there's no dice left.

"Not completely" Haha. Here we can see over-leveraged BTL in a state of truth behind closed doors in their about-to-be-repossessed main home they MEWd to death with:

giphy.gif

 

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6 hours ago, jfk said:

http://www.bbc.co.uk/programmes/b08vwn3r

 

Just heard advert for this on radio, some 'canny businessman' (aka BTLer) saying how the governments changes and the confusing tax arrangements (?) are making it difficult for him to operate his 'business' and he's going to consider selling up (obviously not going to 'give it away' ofc)

*gets worlds smallest fiddle*

 

Thanks i enjoyed listening to that.

Especially that his business was not not making any money when he was paying a proper interest rate.

Unfortately for us 'Since the Boe have reduced rates, ive been making a nice profit.'

And the poor old lady that is going to have to pay extra £40k extra stamp duty as she owns a BTL (she must be buying place in the country for 1.25mil)

Edited by GreenDevil

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