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118er Getting Roasted on Mumsnet...

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240 days until the bill needs to be paid (8 lots of rent to go). That will go quick enough.

I don't really mind landlords moaning like that, it sure does educate more landlords. From autumn onwards we are going to see a lot of property coming up for sale, with January 2019 onwards being the largest wall of forced sellers for 10 years. 

Im sure pretty much all of us know at least one leveraged BTL landlord in one way or another whos going to go bust through this. 

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This thread was a real eye-opener for me as I believe it is the first time we've seen the response to section 24 from the wider population (assuming mumsnet is representative...). 

And the landlords are getting no sympathy at all. I wonder how many people were unaware that landlords got tax relief on their mortgage interest at all!

It really is an open goal now for the government to implement section 24b and remove all remaining tax relief. It will raise a lot of money, and it's clear that the electoral cost will be minimal (the Tories knows that they can count on landlords' votes anyway). In fact the Tories could publicise it and make out that they are helping to level the playing field for first timebuyers. It's simply a no-brainer.

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5 minutes ago, oatbake said:

This thread was a real eye-opener for me as I believe it is the first time we've seen the response to section 24 from the wider population (assuming mumsnet is representative...). 

And the landlords are getting no sympathy at all. I wonder how many people were unaware that landlords got tax relief on their mortgage interest at all!

It really is an open goal now for the government to implement section 24b and remove all remaining tax relief. It will raise a lot of money, and it's clear that the electoral cost will be minimal (the Tories knows that they can count on landlords' votes anyway). In fact the Tories could publicise it and make out that they are helping to level the playing field for first timebuyers. It's simply a no-brainer.

+1 and Mumsnet is becoming more political which is a good thing as far as I am concerned.

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No no no, they'll just put up the rent to get in more affluent tenants, the ones who have been queuing up at the door but aren't renting the place because of the poor people in it renting at a discount.

At least they're starting to face some financial realities about not basing a "business" on unjustified discounts. Pity there's no sign of understanding of morality, but as long as enough are forced to sell up anyway it's all good.

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45 minutes ago, oatbake said:

This thread was a real eye-opener for me as I believe it is the first time we've seen the response to section 24 from the wider population (assuming mumsnet is representative...). 

Yes it's one thing for us on HPC to grind our teeth, quite another when you find out the wider population feels exactly same way

Also the more that s24 finds its way into public consciousness the more that the less-informed LLs will start to think about it as well. Same goes for HMRC catching up with LL tax. 

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2 hours ago, Funn3r said:

Yes it's one thing for us on HPC to grind our teeth, quite another when you find out the wider population feels exactly same way

Also the more that s24 finds its way into public consciousness the more that the less-informed LLs will start to think about it as well. Same goes for HMRC catching up with LL tax

The squealing pig no one cares about, after the squealing it`s needs to go for pork chops. 

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Thanks nome. Sentiment has been changing for years now and is building up nicely. Even mums need somewhere to live after all and as the years roll by more and more of them are being priced out and getting more and more angry. You only have to look at the BBC HYS comments on housing issues to know that it is now a majority that think house prices/rents are bonkers.

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5 hours ago, Sperm Donor said:

Thanks nome. Sentiment has been changing for years now and is building up nicely. Even mums need somewhere to live after all and as the years roll by more and more of them are being priced out and getting more and more angry. You only have to look at the BBC HYS comments on housing issues to know that it is now a majority that think house prices/rents are bonkers.

It’s not unusual for people to delay having children until they have a stable home, and that essentially means buying a home.

And even if they can’t or don’t wait, they have to deal with the constant threat of eviction, and the difficulties of moving with children, particularly when they are in school.

So I’d expect mothers to be particularly sensitive to the evil of landlording.  

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You guys are so cynical, don't you believe that this landlord won't personally be affected by S24 because they can just raise the rent to cover it but they've decided to post on Mumsnet because they're so worried about low income tenants?

I think the government should use the S24 money to put a statue of the forgotten landlord up in Parliament Square: "Businessman. Risk Taker. Housing Provider. Champion of the Poor"

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1 hour ago, Dorkins said:

You guys are so cynical, don't you believe that this landlord won't personally be affected by S24 because they can just raise the rent to cover it but they've decided to post on Mumsnet because they're so worried about low income tenants?

If you'd read any of the posts over on the thread, you wouldn't ask that question.

She can't "just raise the rent" innit, the thread establishes that. Read it before posting.

Edited by mrtickle

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8 hours ago, mrtickle said:

If you'd read any of the posts over on the thread, you wouldn't ask that question.

She can't "just raise the rent" innit, the thread establishes that. Read it before posting.

If you'd read the second paragraph of Dorkin's post, you have realised he was joking. 

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As has already been said, it's really interesting to see such an overwhelmingly negative response on a forum that represents a far more mainstream demographic than the (once!?) fringe views of HPC.

Also great to see this scumbag's crude and thinly-veiled attempt to disguise his own self-interest as concern for the disadvantaged blown apart so comprehensively. 

I still can't quite get my head around the pervasive sense of entitlement and apparent belief that they're doing the world a favour by hoovering up property and using it as a tool to exploit those in a less fortunate financial position... I wonder what the mean landlord IQ is.. I'm guessing not a whole lot!

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Quote
LOVELYDOVEY05 Fri 04-May-18 15:15:37

I think the opposite will happen. Universal Credit once it has been properly introduced with a cap of £500 pm for a single person will lower rents as landlords will be forced to rent to lower payers or leave their property empty/sell it . A lot of rents have been inflated by State subsidies eg working tax credit

Is this true? 

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4 minutes ago, PropertyMania said:

Is this true? 

Im not 100%.

There's an element that UC forces the tenant to go for cheaper rent.

I was chatting to someone who was telling me they are moving out as they are having to top up their current rent with some money.

I have a vague recollection that UC was pushing some responsibility onto the claimant to drive rents down.

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14 hours ago, Dorkins said:

You guys are so cynical, don't you believe that this landlord won't personally be affected by S24 because they can just raise the rent to cover it but they've decided to post on Mumsnet because they're so worried about low income tenants?

I think the government should use the S24 money to put a statue of the forgotten landlord up in Parliament Square: "Businessman. Risk Taker. Housing Provider. Champion of the Poor"

I can see it now, a wonderful bronze for the commoners to look upon in awe and wonder, to marvel at the selfless sacrifice of the fallen hero. His foot firmly planted on the writhing masses of unworthy tax paying workers, the ledger of righteousness tucked under his left arm, in his right a wedge of other peoples money and on his fat pudgy face a look of self belief and certainty in his own brilliance.

Oh pigeon shit dripping down the whole sorry edifice.

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36 minutes ago, Switch625 said:

I can see it now, a wonderful bronze for the commoners to look upon in awe and wonder, to marvel at the selfless sacrifice of the fallen hero. His foot firmly planted on the writhing masses of unworthy tax paying workers, the ledger of righteousness tucked under his left arm, in his right a wedge of other peoples money and on his fat pudgy face a look of self belief and certainty in his own brilliance.

A one way ticket to Malta sticking out of his back pocket.

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46 minutes ago, TonyJ said:

If true, it is another example of how BTLers bet the house on nothing ever changing. Now that things are changing, they think they can simply stomp their feet and get them back to how they were, at least with s24, that is. Such is their delusion of power and influence, probably developed by lording it over their tenants.

Look at the house building against National Insurance numbers issued for the last 20 years.

Brexit has really helped reduce pressure. Not from an economic standpoint but from a supply / demand standpoint.

But STILL. More people are coming than houses being built. Until that trend reverses, rents aren't going down, I don't see how its possible. s24 will change the figures. But the correlation between population and price is not going to change, its basic supply and demand.

The overleveraged will be set back quite a bit, but the fundamentals are going to be the same. As long as the population of this small island keeps going up and the value of money keeps going down, long term prices are only going UP.

There is never ever EVER going to be a 25 year period where taking a mortgage generates a loss.

I cant see how its mathematically possible with populations outpacing building by such a large margin. Never mind inflation.

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14 minutes ago, TryingToWin said:

Look at the house building against National Insurance numbers issued for the last 20 years.

Brexit has really helped reduce pressure. Not from an economic standpoint but from a supply / demand standpoint.

But STILL. More people are coming than houses being built. Until that trend reverses, rents aren't going down, I don't see how its possible. s24 will change the figures. But the correlation between population and price is not going to change, its basic supply and demand.

The overleveraged will be set back quite a bit, but the fundamentals are going to be the same. As long as the population of this small island keeps going up and the value of money keeps going down, long term prices are only going UP.

There is never ever EVER going to be a 25 year period where taking a mortgage generates a loss.

I cant see how its mathematically possible with populations outpacing building by such a large margin. Never mind inflation.

Apartment-Price-Movements-in-Japan-and-T

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1 minute ago, This time said:

Apartment-Price-Movements-in-Japan-and-T

That image isn't loading, but  I can see it mentions "Japan".

Japan is 99% homogenous and I don't think the population is growing due to immigration at all, especially in comparison to ours.

In fact I think they are just at replacement level birth rates.

They are definitely not importing 400k people a year, or issuing 800,000 new NIs a year. Japan is a really bad example in comparison to the UK.

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  • 301 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%



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