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Collapse in BTL - telegraph

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Loving this reply in the comments...

''

We buy-to-let landlords are business entrepreneurs in the economy, creating huge amounts of wealth by investing in property by highly leveraged borrowing on interest-only mortgages, and then enjoying capital gains from the relentless house price inflation that benefits the economy so much.  Now Osbourne's dreadful Section 24 stops us getting full tax relief on our mortgage interest payments and means that we actually have to pay income tax on some of our rental income!

 

The government should take urgent action.  There should be an immediate increase in tax subsidies for buy-to-let landlords: restoration of full tax relief on mortgage interest payments, continued availability of special interest-only mortgages, ability to raise a deposit by tax-free withdrawal of equity from the capital gain on an existing property instead of having to save for a deposit out of after-tax income, exemption from council tax for properties which are let to students, etc.

 

This will balance out the enormous financial subsidies that owner-occupier families enjoy, because they do not have to pay a single penny of tax on the imputed rent that they benefit from by living in their own homes.

 

This way, buy-to-let landlords will be able to continue to support the golden age of high house price inflation by buying up more properties to rent out, and provide much-needed homes for those who cannot afford to buy.''

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Either we have posted 90% of the comments in that article or things are finally changing. 

I'm not counting the Ranty Ros comment as that is clearly a fine example of someone on here

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Don't worry...

Interest rates could stay low for a decade

Economists have suggested that Britain could face 20 years of rock-bottom interest rates if saving by people in their 50s and 60s creates a glut of cash that forces down market rates. Analysts at Berenberg Bank believe that following 10 years of ultra-low interest rates, this extra pressure from savings could mean another decade at sub-2% interest rates.
 

See Telegraph business page 8...
 

Therefore buy and hoard housing....don't miss the boat.!

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7 hours ago, Grab_Some_Popcorn said:

Similar large article in Times business section the other day.  

Talking of which, have just seen on the property 118 home page a piece headed,

'UK landlords are campaigning to save tenants from rent hikes and eviction.' 

It's truly heartwarming to see how selflessly concerned they are for those who are  paying their mortgages. 

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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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