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"FTB and key workers to get 30% on new homes"


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Ah right. That was obviously the schools fault. As she never had an opportunity to learn to read properly over the next 30 years, did she? Be serious.

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9 hours ago, Habeas Domus said:

When the buyers of these houses look to sell in a few years time and realise all the restrictions then they will "Just rent it out then".

So this scheme is going to prop up supply in the rental market, I wonder why the powers that be might think that to be necessary?

There will almost certainly be a condition to prevent renting the property out. You're technically subletting as you still have a landlord.

Shared Ownership doesn't allow letting out, nor do any other ftb initiatives so i very much doubt this will either. Help to Buy-to-Let is too far even for our property mad politicians.  

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7 minutes ago, sammersmith said:

There will almost certainly be a condition to prevent renting the property out. You're technically subletting as you still have a landlord.

Shared Ownership doesn't allow letting out, nor do any other ftb initiatives so i very much doubt this will either. Help to Buy-to-Let is too far even for our property mad politicians.  

I know 2 people with shared ownership flats who sublet their places after moving in with partners. Yes, of course they also don’t pay the tax. Yes, it farks me off no end. 

 

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32 minutes ago, PeanutButter said:

I know 2 people with shared ownership flats who sublet their places after moving in with partners. Yes, of course they also don’t pay the tax. Yes, it farks me off no end. 

 

Indeed, I have a colleague at work who rented a shared ownership through a friend of a friend after she left the country. It's common in  London, and most shared ownership rentals i know of are informal agreements that manage to keep under the radar.

If they go full professional rental (with agents, deposit protection, tenancy agreement, tenant liable for council tax, potential future HB claims, etc) then you'd hope the local authority could join the dots and see that the flat is rented.  

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1 minute ago, sammersmith said:

Indeed, I have a colleague at work who rented a shared ownership through a friend of a friend after she left the country. It's common in  London, and most shared ownership rentals i know of are informal agreements that manage to keep under the radar.

If they go full professional rental (with agents, deposit protection, tenancy agreement, tenant liable for council tax, potential future HB claims, etc) then you'd hope the local authority could join the dots and see that the flat is rented.  

I don’t visit landlord forums as such but I certainly have never heard of anyone being caught, or fined etc.

Ditto for those council house renters in London who move out to the sticks and live off the airbnb or subletting money. Never heard of any of them getting kicked out.

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10 minutes ago, PeanutButter said:

I don’t visit landlord forums as such but I certainly have never heard of anyone being caught, or fined etc.

Ditto for those council house renters in London who move out to the sticks and live off the airbnb or subletting money. Never heard of any of them getting kicked out.

Very true. The council house rental scam is a well trodden route out of London whilst maintaining a decent income. 

It occurred to me with Shared Ownership renting that although the council might be prepared to turn a blind eye to this practice, the mortgage company certainly would not. The owner obviously wouldn't be granted 'content to let' for a Shared Ownership property so would have to breach their mortgage terms in order to rent the place out. This is quite dangerous and I have heard of people being caught out by mortgage companies this way even on regular owner occupier tenures.  

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2 hours ago, Killer Bunny said:

How do you copy a quote on another thread?

Click the share button in the top right and copy the link. Once you paste it into your reply, it will grab the post automatically.

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2 hours ago, Killer Bunny said:

How do you copy a quote on another thread?

Click the share button in the top right and copy the link. Once you paste it into your reply, it will grab the post automatically.

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2 minutes ago, Locke said:

Click the share button in the top right and copy the link. Once you paste it into your reply, it will grab the post automatically.

Ahhhh.  THANK you.  I thought the triangle thingy was for Report.

Edited by Killer Bunny
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1 hour ago, PeanutButter said:

I know 2 people with shared ownership flats who sublet their places after moving in with partners. Yes, of course they also don’t pay the tax. Yes, it farks me off no end. 

 

report it to HMRC then

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1 hour ago, PeanutButter said:

I don’t visit landlord forums as such but I certainly have never heard of anyone being caught, or fined etc.

Ditto for those council house renters in London who move out to the sticks and live off the airbnb or subletting money. Never heard of any of them getting kicked out.

A friend who has a council flat told me that he does not complain about subletters because the new tenants could be worse.

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1 hour ago, Roman Roady said:

report it to HMRC then

I want the system to work, not to have to shop friends. If there wasn’t an opportunity and a massive value in being a deceptive tax dodger then they couldn’t do it. 

 

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2 hours ago, PeanutButter said:

don’t visit landlord forums as such but I certainly have never heard of anyone being caught, or fined etc.

My friend got caught and fined.

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2 hours ago, PeanutButter said:

I know 2 people with shared ownership flats who sublet their places after moving in with partners. Yes, of course they also don’t pay the tax. Yes, it farks me off no end. 

 

Like this lovely native:

https://www.cps.gov.uk/mersey-cheshire/news/cheat-jailed-fraudulently-claiming-more-ps1-million-benefits

Cheat jailed for fraudulently claiming more than £1 million in benefits

Edited by MonsieurCopperCrutch
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2 hours ago, sammersmith said:

Very true. The council house rental scam is a well trodden route out of London whilst maintaining a decent income. 

It occurred to me with Shared Ownership renting that although the council might be prepared to turn a blind eye to this practice, the mortgage company certainly would not. The owner obviously wouldn't be granted 'content to let' for a Shared Ownership property so would have to breach their mortgage terms in order to rent the place out. This is quite dangerous and I have heard of people being caught out by mortgage companies this way even on regular owner occupier tenures.  

But what’s the punishment? They get booted off to a 3% mortgage instead of 1%? 

This whole system sucks. Someone programme an AI that can target these scammers.

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37 minutes ago, PeanutButter said:

I want the system to work, not to have to shop friends. If there wasn’t an opportunity and a massive value in being a deceptive tax dodger then they couldn’t do it. 

 

I dont want to preach here, I am in no way a relationship expert ...however your phrase was "Yes, it farks me off no end".

If that's the case either shop them and do society in general a favour, or start to let them drift out of your life.

They are obviously bragging in some way or other.

If you keep the Status Quo this will continue to wind you up and your frustration will surface in the end.

When they are shopped (and they will be) they may blame you anyhow.

Friends are there to support you, not wind you up; life is too short and has too many issues that have the potential to cause you angst anyhow.

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4 hours ago, PeanutButter said:

I know 2 people with shared ownership flats who sublet their places after moving in with partners. Yes, of course they also don’t pay the tax. Yes, it farks me off no end. 

 

Lots of people who have a council houses in London rent them out and fully fund their lifestyle in Spain and are are quids in, Im not there anymore but my bet its still going on and has been for ages 

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2 hours ago, papag said:

Lots of people who have a council houses in London rent them out and fully fund their lifestyle in Spain and are are quids in, Im not there anymore but my bet its still going on and has been for ages 

Criminal offense now, up to 7 years.

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On 08/06/2020 at 15:26, Killer Bunny said:

All it does is raise new build prices by 30%. F'g socialist politicians! ?

On 6/8/2020 at 3:26 PM, Killer Bunny said:

 All it does is raise new build prices by 30%. F'g socialist politicians! ?

It's potentially worse than that. For a thirty percent "discount" to return a price to its current level the "undiscounted" price would have to rise by 43 percent.

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20 minutes ago, Horridbloke said:

It's potentially worse than that. For a thirty percent "discount" to return a price to its current level the "undiscounted" price would have to rise by 43 percent.

I hope for your sake your teeth are silver.

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6 hours ago, Roman Roady said:

I dont want to preach here, I am in no way a relationship expert ...however your phrase was "Yes, it farks me off no end".

If that's the case either shop them and do society in general a favour, or start to let them drift out of your life.

They are obviously bragging in some way or other.

If you keep the Status Quo this will continue to wind you up and your frustration will surface in the end.

When they are shopped (and they will be) they may blame you anyhow.

Friends are there to support you, not wind you up; life is too short and has too many issues that have the potential to cause you angst anyhow.

TBH loads of stuff irritates me (you may have picked that up over my previous posts ?) but I quickly forget it. Benefit of having a short attention span :D 

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  • 441 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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