The Big Short Time and Furnished Holiday Let thread ...

[Democorruptcy]

9 hours ago, roundhouse said:

I'm sure Cornwall Council have said in recent weeks that change of ownership/selling will mean the fhl house reverts to residential and new owner has to reapply. But can't find it on quick search so maybe bad memory...

It's all to do with the Levelling Up bill that became law last October. That included planning permission being needed for holiday lets and a register of owners. It's obvious why, they intend to start increasing CGT on holiday home sales and the register is how they will know who to charge.

[spygirl]

I like the 'Oh my god! Everyone thinks we're cunts!' feel going on.

 

https://www.dailymail.co.uk/news/article-13169181/Second-homes-crackdown-kill-towns-foot-property-ladder-Locals-tourist-hotspots-fear-Budget-tax-raid-wipe-crucial-staycationer-income-holiday-lets-forced-close-DOUBLE-prices.html#comments

Ellen

South of England, United Kingdom1 hour ago

My friends own a second home in a desirable area. They only use it for themselves and family members, at no charge. Believe me, they don’t contribute to the local economy. They take their own food ...

 

Glen and Monica Fahy, who have an Airbnb in Longhirst, said they'd have to double their prices or shut down their business 

[One percent]

21 minutes ago, spygirl said:

I like the 'Oh my god! Everyone thinks we're cunts!' feel going on.

 

https://www.dailymail.co.uk/news/article-13169181/Second-homes-crackdown-kill-towns-foot-property-ladder-Locals-tourist-hotspots-fear-Budget-tax-raid-wipe-crucial-staycationer-income-holiday-lets-forced-close-DOUBLE-prices.html#comments

Ellen

South of England, United Kingdom1 hour ago

 

My friends own a second home in a desirable area. They only use it for themselves and family members, at no charge. Believe me, they don’t contribute to the local economy. They take their own food ...

 

Glen and Monica Fahy, who have an Airbnb in Longhirst, said they'd have to double their prices or shut down their business 

Their data is completely wrong. On the map it says that ‘scabby’ has 1710 holiday homes. That includes scabby, filey, whitby and everything in between.  I reckon adding another nought onto it would make it slightly more accurate. Just in whitby alone, not including places such as bay, it’s pushing 30 percent that isn’t being used for full time residential.  
according to wiki there are 6097 households in whitby alone (2011 census)  so thats 1707 non residential in whitby alone   The problem is that there is no reliable (government) data as to the extent of the problem 

https://en.wikipedia.org/wiki/Whitby

[spygirl]

29 minutes ago, One percent said:

Their data is completely wrong. On the map it says that ‘scabby’ has 1710 holiday homes. That includes scabby, filey, whitby and everything in between.  I reckon adding another nought onto it would make it slightly more accurate. Just in whitby alone, not including places such as bay, it’s pushing 30 percent that isn’t being used for full time residential.  
according to wiki there are 6097 households in whitby alone (2011 census)  so thats 1707 non residential in whitby alone   The problem is that there is no reliable (government) data as to the extent of the problem 

https://en.wikipedia.org/wiki/Whitby

Mangling.

They mean Scarborough District as was.

Majority of FHL are around Whitby.

 

 

[sancho panza]

1 hour ago, spygirl said:

I like the 'Oh my god! Everyone thinks we're cunts!' feel going on.

 

https://www.dailymail.co.uk/news/article-13169181/Second-homes-crackdown-kill-towns-foot-property-ladder-Locals-tourist-hotspots-fear-Budget-tax-raid-wipe-crucial-staycationer-income-holiday-lets-forced-close-DOUBLE-prices.html#comments

Ellen

South of England, United Kingdom1 hour ago

 

My friends own a second home in a desirable area. They only use it for themselves and family members, at no charge. Believe me, they don’t contribute to the local economy. They take their own food ...

 

Glen and Monica Fahy, who have an Airbnb in Longhirst, said they'd have to double their prices or shut down their business 

according to the wails interactive map,mansfield has ten holiday homes.wtf.

[spygirl]

Whitby holiday lets hit by Budget announcement

https://www.bbc.com/news/uk-england-york-north-yorkshire-68506205.amp

@One percent this is the woman I PMed you about a year or so ago.

She's gone from Fatcher bizzyness suite to mumu ....

She's an Airbnb superhost.

The change affects property developers like Sarah McDermott who previously had tax breaks on expenses such as fittings for her holiday homes in Whitby.

Generation Rent said they had wanted a better holiday homes tax system.

Ms McDermott, the founder of Maison Parfaite Holiday Homes, said she thought the chancellor's announcement would "prevent growth and investment".

She owns 43 holiday homes across North Yorkshire but looks after 55 in total. She said people like her were being blamed for the shortage of affordable housing in the seaside town of Whitby.

If that number is right and she's not fibbing, then she's gone from 4ish when I PMed to a massive number.

She doesn't own them. She borrows huge sums of money ffs.

43 is probably enough to take down the bank.

 

 

Generation Rent says ...

Bullshit.

Hmrc lost custom ffs.

[spygirl]

"We're the ones who are creating growth, who are creating jobs, who are doing all those things on his little tick box that he's pretending he's doing up there, but really what he's doing is halting progress," she said.

"The only way to solve the problem is to create zoned areas where you cannot have a holiday home without planning permission, and that basically makes it a lot more exclusive for residents."

Hahaha haha.

No need to create zones- apply for planning.

 

[spygirl]

Fuckme.

She's been hammering various building societies n financial companies since I last looked at her accounts, 22ish years go.

She appears to have gone mental.

She's fucked.

They are fucked.

 

 

[One percent]

16 minutes ago, spygirl said:

Whitby holiday lets hit by Budget announcement

https://www.bbc.com/news/uk-england-york-north-yorkshire-68506205.amp

@One percent this is the woman I PMed you about a year or so ago.

She's gone from Fatcher bizzyness suite to mumu ....

She's an Airbnb superhost.

The change affects property developers like Sarah McDermott who previously had tax breaks on expenses such as fittings for her holiday homes in Whitby.

Generation Rent said they had wanted a better holiday homes tax system.

Ms McDermott, the founder of Maison Parfaite Holiday Homes, said she thought the chancellor's announcement would "prevent growth and investment".

She owns 43 holiday homes across North Yorkshire but looks after 55 in total. She said people like her were being blamed for the shortage of affordable housing in the seaside town of Whitby.

If that number is right and she's not fibbing, then she's gone from 4ish when I PMed to a massive number.

She doesn't own them. She borrows huge sums of money ffs.

43 is probably enough to take down the bank.

 

 

Generation Rent says ...

Bullshit.

Hmrc lost custom ffs.

Ive picked just one, it has no bookings. Right across the summer, no bookings. Fantastic business model.  
 

https://www.maison-parfaite.com/casa-whitby/

 

[One percent]

Neither has this one

https://www.maison-parfaite.com/whitby/

trotting off to look at her bay property 

[One percent]

The bay one is fairing better. It’s a party house, glad I don’t live next door 

https://www.maison-parfaite.com/robin-hoods-bay/

[spygirl]

1 minute ago, One percent said:

Neither has this one

https://www.maison-parfaite.com/whitby/

trotting off to look at her bay property 

Stuff in Leeds, Yawk n Dale's. And some shitty Wessie towns too.

[spygirl]

Just now, One percent said:

The bay one is fairing better. It’s a party house, glad I don’t live next door 

https://www.maison-parfaite.com/robin-hoods-bay/

Well, I'm sure if a musician lived next door then they'd apprecaite the fun atmosphere n 24h 'craic'...

 

 

 

[One percent]

2 minutes ago, spygirl said:

Well, I'm sure if a musician lived next door then they'd apprecaite the fun atmosphere n 24h 'craic'...

 

 

 

Crikey, she’s aged.  

[spygirl]

5 minutes ago, One percent said:

Crikey, she’s aged.  

That's one of her better sides....

She looks like her mum.

[spygirl]

2 hours ago, spygirl said:

Whitby holiday lets hit by Budget announcement

https://www.bbc.com/news/uk-england-york-north-yorkshire-68506205.amp

@One percent this is the woman I PMed you about a year or so ago.

She's gone from Fatcher bizzyness suite to mumu ....

She's an Airbnb superhost.

The change affects property developers like Sarah McDermott who previously had tax breaks on expenses such as fittings for her holiday homes in Whitby.

Generation Rent said they had wanted a better holiday homes tax system.

Ms McDermott, the founder of Maison Parfaite Holiday Homes, said she thought the chancellor's announcement would "prevent growth and investment".

She owns 43 holiday homes across North Yorkshire but looks after 55 in total. She said people like her were being blamed for the shortage of affordable housing in the seaside town of Whitby.

If that number is right and she's not fibbing, then she's gone from 4ish when I PMed to a massive number.

She doesn't own them. She borrows huge sums of money ffs.

43 is probably enough to take down the bank.

 

 

Generation Rent says ...

Bullshit.

Hmrc lost custom ffs.

Her tax breaks were nit on 'fittings' There were offsetting mortgage payments.

Like s24 did for io btl, this change will do for leveraged fhl.

 

[Wight Flight]

20 hours ago, One percent said:

Ive picked just one, it has no bookings. Right across the summer, no bookings. Fantastic business model.  
 

https://www.maison-parfaite.com/casa-whitby/

 

At the thick end of £2k for a week I am not surprised.

Edited March 10 by Wight Flight

[sleepwello'nights]

We started looking to move a few years ago. A house we were gazumped on was an old Victorian school house that had been converted into 4 dwellings. It was used as holdiay lets.

The owners who were selling had bought it a few years earlier and lived in one of the dwellings and let the others as FHL. Which is what we planned.

WE had a mortgage arranged in principle with Cumberland BS. We ran the numbers on the accounts provided by the owners, which I suspect reflected some lapses of memory on the income side. It was a good prospect at the £800k mark, perfect location and in a reasonable state of repair. 

However it was not meant to be. The year before last we went to have a look at it and spoke to the current owners who were outside tending the garden. They outbid us by a mere £5k. Still they were pleasant people so I took the pins out of the effigy on our return home. 

They advertised it for sale last year, its no longer listed so I presume they've sold it. Asking price was £1.2 million. I could look up to see whether it is sold, but no point.  

 

*btw @One percent you've sold me on Whitby, must go for a day trip later in the year. 

Edited March 10 by sleepwello'nights

[spygirl]

I have a feeling that this thread, highlighting the 'challenges' of FHL and the doubtful   solvency of Cumberland BS will go the same way as my THG thread.

At the mo, we are at the point where THG SP was, what 700p n Matt was a visionary genius.

And a certain poster had just dropped 5k at 205p share.

.

 

 

[One percent]

Canaries but an interesting move. Seems like the second home owners were trying to get round some rules and have fallen foul 

https://www.dailymail.co.uk/news/article-13236117/holiday-home-owners-Canary-Islands-fines.html

 

British and Irish second home owners in the Canary Islands have been hit with £2,000 fines for refusing to rent out their holiday properties to tourists.

Apartment owners in the south of Gran Canaria were shocked to receive fines for living in their homes rather than renting out the flats built in complexes intended for tourists. 

They are not just required to rent out the apartments to holidaymakers, but they also have to do it through a registered tourist operator and can't do it themselves. 
 

The sanctions have led to demonstrations on the island over the effects of legislation punishing people who want to use their properties in tourist zones as their main residence or holiday home.

Reports in April last year identified a Spanish OAP as the first person fined under a controversial tourist law by the Canary Islands Regional Government.

And overnight Irishman John Hefferman vented his anger as he revealed how he had arrived at the holiday home in Gran Canaria he bought 13 years ago to find a £1,930 (€2,250) fine waiting for him. 

[onlyme]

On 10/03/2024 at 10:51, sleepwello'nights said:

We started looking to move a few years ago. A house we were gazumped on was an old Victorian school house that had been converted into 4 dwellings. It was used as holdiay lets.

The owners who were selling had bought it a few years earlier and lived in one of the dwellings and let the others as FHL. Which is what we planned.

WE had a mortgage arranged in principle with Cumberland BS. We ran the numbers on the accounts provided by the owners, which I suspect reflected some lapses of memory on the income side. It was a good prospect at the £800k mark, perfect location and in a reasonable state of repair. 

However it was not meant to be. The year before last we went to have a look at it and spoke to the current owners who were outside tending the garden. They outbid us by a mere £5k. Still they were pleasant people so I took the pins out of the effigy on our return home. 

They advertised it for sale last year, its no longer listed so I presume they've sold it. Asking price was £1.2 million. I could look up to see whether it is sold, but no point.  

 

*btw @One percent you've sold me on Whitby, must go for a day trip later in the year. 

Might as well look it up, at the moment you've assumed it sold at £1.2M and feel you've missed out anyway.

I'd say 50:50 it has not sold at all.

Besides you;ve teased us with it now!

[sleepwello'nights]

17 minutes ago, onlyme said:

Might as well look it up, at the moment you've assumed it sold at £1.2M and feel you've missed out anyway.

I'd say 50:50 it has not sold at all.

Besides you;ve teased us with it now!

https://www.stgennysschoolcottages.com/history

Last sale price I can find on NetHousePrices.com is in 2016 at the price they gazumped as at. The sale listing I can find is OnTheMarket.com at £1.3 million. Perhaps they haven't sold, its academic anyway I couldn't afford it now even if we wanted to purchase it. 

[One percent]

3 minutes ago, sleepwello'nights said:

https://www.stgennysschoolcottages.com/history

Last sale price I can find on NetHousePrices.com is in 2016 at the price they gazumped as at. The sale listing I can find is OnTheMarket.com at £1.3 million. Perhaps they haven't sold, its academic anyway I couldn't afford it now even if we wanted to purchase it. 

Out of interest, would the figures still work at the new, inflated price?   

[sleepwello'nights]

1 hour ago, One percent said:

Out of interest, would the figures still work at the new, inflated price?   

Depends. I've no idea what their occupancy is, their prices and amount borrowed. The reviews for them all look very complimentary.

It would have worked out for us in 2016. Given the accounts we looked at and the amount we would have borrowed I'm sure it would have given us a more than liveable income and the probable capital gain should we have decided to move now it could have been very worthwhile. It wasn't meant to be.

Edited March 25 by sleepwello'nights

[Bilbo]

Article in today's Telegraph ,free at moment. About  double  council tax .

Very interesting to read comments, mainly negative.

https://www.telegraph.co.uk/politics/2024/03/31/council-tax-to-double-for-80-per-cent-of-second-homes/