Jump to content
House Price Crash Forum
Sign in to follow this  
Timbuk3

BTL landlords face compulsory registration with ombudsmen

Recommended Posts

40 minutes ago, Timbuk3 said:

 

First steps to HMRC getting access to lists of landlords 

 

Exactly my thoughts

Share this post


Link to post
Share on other sites

Looks like it could cover all issues including repairs (or the lack of). Will tip a few more into selling up.  It's really starting to look like the government want to change the private rental sector away from the typical tax and responsibility avoiding dysfunctional amateur landlord.  The cheaters will also be terrified of a landlord registration scheme such as those using a normal mortgage for a rental. Not only will the register be available to HMRC but the banks as well I'm sure.

Share this post


Link to post
Share on other sites

Implementing S24 removing complete interest rate relief for private landlords, followed by normalising the stamp duty 3% surcharge with that of ltd companies was a way of encouraging private landlords to go the ltd company route, since ltd company can still claim full tax relief. No hiding your taxable btl earnings in a ltd company. Smart move by Osborne. 

Share this post


Link to post
Share on other sites
1 hour ago, Timbuk3 said:

http://www.which.co.uk/news/2017/10/buy-to-let-landlords-face-compulsory-ombudsman-scheme/

 

From the Tory party conference. I wonder if it will get to be legislated on.

First steps to HMRC getting access to lists of landlords 

 

Just BTL landlords or all landlords? Why not just introduce a compulsory National Landlord Register? Probably too simple a solution.

Share this post


Link to post
Share on other sites

This is pretty huge news.

often i bang on about the effects the Section 24 will have, but sadly plenty do not do proper paperwork anyway, these can and will now be caught.

Can you really see the conservatives doing this? it would have a big effect on the market and those who wish not to make themselves known will rather sell their houses and pretend they never let rather than risk being grassed up to a real register. 

Share this post


Link to post
Share on other sites

Quote from an article on this from a landlord:

"If this is meant to encourage people to let then I wouldn't hold my breath. More regulation, more admin and more political meddling is not what the sector needs. 

Let's see how many tenants vote for Sajid when they can't find a rental property for love nor money because PRS landlords are exiting the market in droves. 

If that's be best the government has to offer then God help them all."


 

Share this post


Link to post
Share on other sites
16 minutes ago, jiltedjen said:

This is pretty huge news.

often i bang on about the effects the Section 24 will have, but sadly plenty do not do proper paperwork anyway, these can and will now be caught.

Can you really see the conservatives doing this? it would have a big effect on the market and those who wish not to make themselves known will rather sell their houses and pretend they never let rather than risk being grassed up to a real register. 

They have to do something, otherwise we're going to have Jezza as PM. The under forties are starting to revolt. Even landlords see the Tories as the least worst option, so they have literally nothing to lose.

There seems to be growing apathy about house price inflation. Even many homeowners are taking about a crash in positive terms...

Things have really changed over the last 12 months :-)

Share this post


Link to post
Share on other sites
11 minutes ago, jiltedjen said:

"If this is meant to encourage people to let then I wouldn't hold my breath. More regulation, more admin and more political meddling is not what the sector needs. 

They really don't get it do they? :-)

Share this post


Link to post
Share on other sites

i did find that a really odd statement. It seems like some kind of cognitive dissonance. They don't seem to comprehend that BTL is not a good thing that gov wants to encourage.

To me its a signs of a total lack of empathy, or even thinking of other peoples situations. 

"The world is all about those who want to borrow loads of money to leach off the young, thats a normal healthy world. They seemed to have messed up a bit, i mean of course they want to encourage my good behaviour, but they seem to have made a mistake! the silly government!"

seems the wise ones are the ones who can see the massive flashing writing on the wall, the real morons like the one from the quote should be crushed! good!

Share this post


Link to post
Share on other sites
2 hours ago, Timbuk3 said:

http://www.which.co.uk/news/2017/10/buy-to-let-landlords-face-compulsory-ombudsman-scheme/

 

From the Tory party conference. I wonder if it will get to be legislated on.

First steps to HMRC getting access to lists of landlords 

 

How is this different from the current requirement to register deposits. This already provides a list that HMRC has access to.  The deposit scheme already has an ombudsman type role in resolving disputes over deposit retentions so in reality this change would just amount to extending that role. 

 

Share this post


Link to post
Share on other sites
13 minutes ago, oatbake said:

They have to do something, otherwise we're going to have Jezza as PM. The under forties are starting to revolt. Even landlords see the Tories as the least worst option, so they have literally nothing to lose.

There seems to be growing apathy about house price inflation. Even many homeowners are taking about a crash in positive terms...

Things have really changed over the last 12 months :-)

yes, thinking about Hammonds speech at the conference, he bleeted on about the risk of Corbyn. Maybe he is on board  as well , unlikely as that  may seem.

Anyway, the problem will not go away with out action and is only going to get worse.

Share this post


Link to post
Share on other sites

I hope it is like the financial ombudsman where financial institutions are charged for resolving disputes whether they are right or wrong? I have found that when dealing with p***-poor customer service the mere mention of involving the relevant ombudsman is enough to get any complaint resolved quickly and to my complete satisfaction. At one of my employers, we were told to immediately escalate any complaint where the customer uses the word "ombudsman".

Share this post


Link to post
Share on other sites

i wonder what the HRMC would say if you wrote them a letter saying that you willing to correlate deposit protection schemes with landlord addresses and tax status for free.
Publish their response. 

its shocking that they dont go after the rouges. should be in the paper really. everyone hates a landlord anyway. 

Share this post


Link to post
Share on other sites
1 minute ago, jiltedjen said:

i wonder what the HRMC would say if you wrote them a letter saying that you willing to correlate deposit protection schemes with landlord addresses and tax status for free.
Publish their response

Data protection. Most BTL landlords are private individuals who would probably object to their details effectively being made public.

Share this post


Link to post
Share on other sites
15 minutes ago, jiltedjen said:

i wonder what the HRMC would say if you wrote them a letter saying that you willing to correlate deposit protection schemes with landlord addresses and tax status for free.
Publish their response. 

its shocking that they dont go after the rouges. should be in the paper really. everyone hates a landlord anyway. 

How do we know that they are not doing this already?  HMRC has access to a lot of data

Share this post


Link to post
Share on other sites
1 hour ago, Ah-so said:

How do we know that they are not doing this already?  HMRC has access to a lot of data

We already know they are, it's spelt out in the terms and conditions of the deposit schemes 

https://www.theguardian.com/money/2007/may/05/buyingtolet.property

Landlords also know that the HMRC are acting on this information

https://www.landlordzone.co.uk/news/tenant-deposit-schemes-gift-landlord-info-to-hmrc

Share this post


Link to post
Share on other sites
9 hours ago, oatbake said:

They have to do something, otherwise we're going to have Jezza as PM. The under forties are starting to revolt. Even landlords see the Tories as the least worst option, so they have literally nothing to lose.

There seems to be growing apathy about house price inflation. Even many homeowners are taking about a crash in positive terms...

Things have really changed over the last 12 months :-)

Boom.

Tories will nail BTL to save themselves and thiet sinecures.

Share this post


Link to post
Share on other sites
20 hours ago, fru-gal said:

All landlords should be registered and properties should be inspected if they have a good living standard. I have seen people living in some outrages conditions.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 294 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.