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sarahbell

saudi buyers on huth

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can't get dressed without help cos of arm, so watching huth.

 

twice in the last week there have been two invisible saudi clients.

 

the first was a ex-council place with large front garden. stlegit is it? profits .. who pays tax on them?arted off full mention of buying on behalf of someone else, at the end he was umming abourt what he'd do with the front garden.

 

todays is ex police lady who charges a five k fee for😉buying and project managing the purchase and renovation.

 

other countries don't let non nationals buy land so why do we?

and how

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7 minutes ago, sarahbell said:

can't get dressed without help cos of arm, so watching huth.

 

twice in the last week there have been two invisible saudi clients.

 

the first was a ex-council place with large front garden. stlegit is it? profits .. who pays tax on them?arted off full mention of buying on behalf of someone else, at the end he was umming abourt what he'd do with the front garden.

 

todays is ex police lady who charges a five k fee for😉buying and project managing the purchase and renovation.

 

other countries don't let non nationals buy land so why do we?

and how

Let them buy houses, just tax them to buggery for the privilege.

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36 minutes ago, dgul said:

Let them buy houses, just tax them to buggery for the privilege.

No, sod that. Foreign ownership should be banned forthwith. If you want to own a house in this country you need to live here.

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I've mentioned this before.  Up my very small road of around 50 houses, there are three that I know of that are rented out and owned by overseas people; India, New Zealand and somewhere in the middle east.  There are others but I am not sure where the owners are.  Now, these are all rented out for between 1,500 and 2K a month.  That is a lot of money not being spent in the UK and syphoned off elsewhere.  I bet that there are also a lot of housing benefits going to pay for the rent.  

I really don't understand why the government allows this - it is costing the country a fortune.   

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48 minutes ago, spunko2010 said:

No, sod that. Foreign ownership should be banned forthwith. If you want to own a house in this country you need to live here.

No, tax them - 10% of the price, every year.

 

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Just now, spygirl said:

No, tax them - 10% of the price, every year.

 

But they will still pay it, if prices are going up by 11% every year. The government will just squander the proceeds on bennies, meanwhile prices remain artificially high and the economy remains up the shitter.

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47 minutes ago, One percent said:

I really don't understand why the government allows this - it is costing the country a fortune.   

tbh, I cant help thinking the Government "likes" foreigners buying houses in the UK. The price of sterling would go down a lot if foreigners were stopped buying houses.

 

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4 minutes ago, Great Guy said:

tbh, I cant help thinking the Government "likes" foreigners buying houses in the UK. The price of sterling would go down a lot if foreigners were stopped buying houses.

 

As would the price of houses.  I guess that as most of them are LL they don't want their investments to fall.  Meanwhile, the rest of us suffer the fallout of this

11 minutes ago, spunko2010 said:

But they will still pay it, if prices are going up by 11% every year. The government will just squander the proceeds on bennies, meanwhile prices remain artificially high and the economy remains up the shitter.

They shouldn't be allowed to take money out of the country.  Simples.  The amount of money leaving these shores and not being spent in the economy must be massive if my little case study is anything to go by

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1 hour ago, One percent said:

I've mentioned this before.  Up my very small road of around 50 houses, there are three that I know of that are rented out and owned by overseas people; India, New Zealand and somewhere in the middle east.  There are others but I am not sure where the owners are.  Now, these are all rented out for between 1,500 and 2K a month.  That is a lot of money not being spent in the UK and syphoned off elsewhere.  I bet that there are also a lot of housing benefits going to pay for the rent.  

I really don't understand why the government allows this - it is costing the country a fortune.   

 

The rental income never leaves the UK though since pounds are only useful in the UK. Instead the pounds are swapped for currency in their home country pushing down the exchange rate a bit.

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Just now, Joxer said:

 

The rental income never leaves the UK though since pounds are only useful in the UK. Instead the pounds are swapped for currency in their home country pushing down the exchange rate a bit.

Essentially it does leave the country. The rent money is taken out of circulation here in the uk. 

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6 minutes ago, One percent said:

Essentially it does leave the country. The rent money is taken out of circulation here in the uk. 

So to extrapolate, anyone with a savings account is siphoning money out of the country?

I'm all for restricting and taxing foreign owners to death but arguing that they are removing money from the country isn't correct.

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12 minutes ago, Joxer said:

So to extrapolate, anyone with a savings account is siphoning money out of the country?

I'm all for restricting and taxing foreign owners to death but arguing that they are removing money from the country isn't correct.

We rented from a LL who lived in Australia, the rent was paid to the UK agent, who then transfered the money to the LLs UK bank account and the LL transfered half of it to his Australian account to pay his Australian mortgage and used the other half to pay his UK BTL mortgage. So money was removed from the UK.

Edited by satch

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Ireland 1830's ?

Prior to the famine Irish were the poorest people in Europe due to a rising population and rack renting

In fact commentators at the time said the living conditions  of many Irish tenants were worse than that of the slaves on US Plantations 

Outside of Ulster nearly every penny of surplus income was extracted in rent

Edited by Virgil Caine

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10 minutes ago, Virgil Caine said:

Ireland 1830's ?

Prior to the famine Irish were the poorest people in Europe due to a rising population and rack renting

In fact commentators at the time said the living conditions  of many Irish tenants were worse than that of the slaves on US Plantations 

Outside of Ulster nearly every penny of surplus income was extracted in rent

That's interesting.  there are parallels with today. I guess that without the massive benefits, that the lot of people in the UK would not be dissimilar to those in Ireland.  Starvation... 

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12 minutes ago, Virgil Caine said:

Ireland 1830's ?

Ireland and GB used the same currency at the time. A shilling taken from a farmer on the west coast of Ireland could be spent in London without any kind of currency exchange taking place.

15 minutes ago, satch said:

We rented from a LL who lived in Australia, the rent was paid to the UK agent, who then transfered the money to the LLs UK bank account and the LL transfered half of it to his Australian account to pay his Australian mortgage and used the other half to pay his UK BTL mortgage. So money was removed from the UK.

Your LL had to swap his pounds with an Australian who wanted pounds for some reason (this is all done in the background by banks but essentially that's how it works) 

Have a look at how Transferwise operates to see it in action.

Edited by Joxer

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1 hour ago, Great Guy said:

tbh, I cant help thinking the Government "likes" foreigners buying houses in the UK. The price of sterling would go down a lot if foreigners were stopped buying houses.

 

Selling overpriced property to foreigners allows us to run a massive balance of payments loss every year 

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37 minutes ago, Joxer said:

Ireland and GB used the same currency at the time. A shilling taken from a farmer on the west coast of Ireland could be spent in London without any kind of currency exchange taking place.

Your LL had to swap his pounds with an Australian who wanted pounds for some reason (this is all done in the background by banks but essentially that's how it works) 

Have a look at how Transferwise operates to see it in action.

That is brilliant, no money ever leaves the UK when houses are rented, bought or sold by LL who live abroad. Fantastic, I have learned and now know that no rental money ever ever leaves the UK if a property is owned by a LL from abroad.

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Just now, satch said:

That is brilliant, no money ever leaves the UK when houses are rented, bought or sold by LL who live abroad. Fantastic, I have learned and now know that no rental money ever ever leaves the UK if a property is owned by a LL from abroad.

Does the government stop it leaving then?  o.O

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6 hours ago, Joxer said:

Ireland and GB used the same currency at the time. A shilling taken from a farmer on the west coast of Ireland could be spent in London without any kind of currency exchange taking place.

That must have been a great comfort to the people of western Ireland as they starved at the end of the 1840s.

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33 minutes ago, Virgil Caine said:

That must have been a great comfort to the people of western Ireland as they starved at the end of the 1840s.

I'm not in favour of foreigners having unrestricted rights to UK property. They bid up prices and have little incentive to be decent landlords.

I was only pointing out that pounds never leave the UK since they can't be spent anywhere else.  

Edited by Joxer

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On 11/27/2017 at 18:16, sarahbell said:

can't get dressed without help cos of arm, so watching huth.

 

twice in the last week there have been two invisible saudi clients.

 

the first was a ex-council place with large front garden. stlegit is it? profits .. who pays tax on them?arted off full mention of buying on behalf of someone else, at the end he was umming abourt what he'd do with the front garden.

 

todays is ex police lady who charges a five k fee for😉buying and project managing the purchase and renovation.

 

other countries don't let non nationals buy land so why do we?

and how

I know its a disgrace.

Coincidentally my Uncle has a part time retirement job (2K a week) working for some Russian in exactly the same capacity

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