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More BTL whinging


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Choice pick of the quotes:

“By the way, CGT is supposedly tax on unearned income. But I’ve worked (hard) to buy, improve and maintain my houses. It’s a job I’ve never taken a penny for until two years ago.”

Oh get fucked, boomer.

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25 minutes ago, Boglet said:


Choice pick of the quotes:

“By the way, CGT is supposedly tax on unearned income. But I’ve worked (hard) to buy, improve and maintain my houses. It’s a job I’ve never taken a penny for until two years ago.”

Oh get fucked, boomer.

Again, lift a lefty rock and youll find a scum LL


n July 2019, there were 75pc more homes available to rent across the UK than in July 2023, according to research by the estate agent Hamptons.

It also found that between 2016 and the end of this year, private landlords will have sold almost 300,000 more homes than they’ve bought.

Indeed, in 2023 sales of rental properties will outpace purchases for the eighth year in a row.

I’m a landlord, and like hundreds of thousands of others, I’m carefully considering cashing in my chips, banking them, and giving it all up for a quiet life.

By the way – you’re probably a landlord as well. Most pension funds invest in property. , if you get income from one, you’ll be living on rent, too. By proxy, but without the guilt.

Unlike taking money out of your pension pot or from savings or shares, withdrawing your investment out of an occupied house comes with direct and dire human consequences. People are made homeless. It’s a real dilemma. I’m not heartless.

A minority of landlords may be monsters, but we are individuals each with our own motives, methods and human story.

Here’s mine.

Around 23 years ago I bought the first of four run-down houses and a flat to do up and rent out.

My Dad had always drummed it into me: “You can’t do better than bricks and mortar, Elizabeth”.

My Grandma died in 1999. She was my hero, having left school at 12 for the cotton mill. From the 1940s she worked until the age of 70, from 6am until midnight, running pubs.

She’d bought a house for her retirement in 1970 for £800, and when it was sold in 1999 I felt a huge responsibility. She’d worked so hard I owed it to her to invest her legacy wisely.

And , with my Dad’s money mantra in mind, I put down my first deposit. On a disgusting two-bed terrace with cat-pee-stinking pink shag pile carpets. Everybody said I was mad. But I knew that with imagination, a lot of hard work and careful project management I could make my Grandma proud.

Was my Dad a financial adviser or an estate agent? No… He was a headmaster who invested in me, filling my head with facts, and grooming me for a top university and beyond: “You can do whatever you want with your life, as long as you get a degree first.”

In 1987, I announced to him that E.M.M. Kershaw BA Hons Leeds had chucked in her glittering graduate career in British Telecom management to be a Radio 1 DJ.

“You’ve WHAT? What about your secure BT pension?!”

“I’m 28, Dad! Who needs a pension?”

Meanwhile, my Dad had retired very comfortably on his index-linked public sector final salary pension, which had come with a substantial lump sum to help secure his dream home.

BBC Radio One Disc Jockeys Liz Kershaw, Sybil Ruscoe, Jakki Brambles 30th June 1989
Liz with fellow Radio One disc jockeys Sybil Ruscoe and Jakki Brambles, in 1989 CREDIT: Mirrorpix

“Just look at that lovely Accrington brick. And the pointing. Pristine,” my Dad would say when gazing at the large immaculate detached houses on the promenade near Blackpool. “They’ll never build in front of me here,” he’d declare, admiring uninterrupted views of the Irish Sea and the distant mountains of the Lake District.

“I’ll live here when I retire,” he said. He could, and he did.

In stark contrast, as a freelance, self-employed presenter I had no prospect of a pension at the BBC. I pondered my financial future. Fleetingly. And then carried on regardless, until 2000 when I came into my inheritance.

By then, I’d taken against pension schemes, occupational or private. They take your money, manage and control, and ultimately keep, your capital. I’d already decided it was wiser to be the MD of my own life when I heard about buy-to-let mortgages, and made friends with a builder.

Finding run-down houses for sale and fixing them up was fun. I’d do my redesigns on scrap paper. I’d be asked: “Which wall are you going to knock down in this one?”.

I’d get a local draughtsman to draw them up and submit them for planning permission. Then I’d work, sometimes seven days a week, to pay for it all. When my mates were buying clothes I’d be paying for replacement windows, floorboards or paint. But it was enormously creative and satisfying to transform a Victorian wreck to its former glory.

Like so much of our housing stock, these gems had been left to rot, only to be restored, loved again and rented out by buy-to-let investors.

I’m now 65. Having worked for 45 years and ploughing my taxed wages into property for over 20 years without making any profits until recently, my rental properties are now all paid for, and my main income comes from rent paid by my current tenants.

Nightmare tenants

For years I left it to letting agents to find supposedly “suitable” tenants (for very cheeky fees).

Suitable? In 20 years I’ve seen it all…

I’ve never wanted to be responsible for supplying a home to children. How could I ever, even very reasonably, ask parents to leave when a five-year-old had settled into the local school? Even though I discovered absolute chaos and filth when I arrived on a routine and planned inspection.  

I’ve stipulated no dogs: left on their own all day their barking can be a real nuisance to neighbours. I got a complaint from a guy working nights who couldn’t sleep during the day because of a distressed dog next door in my house. “What dog?” I thought. I arranged to visit, only to find a huge Rottweiler in a massive cage in the kitchen.

The little terrier on its last legs that I was persuaded to accept for its last few months turned out to be a rabid muscular Staffordshire Bull in very rude health, who wouldn’t let me in the house.

I had a tenant who kept mysteriously blocking the toilet so that the sagging ceiling downstairs dripped foul water and needed fixing up twice. When she left, owing several months’ rent, my plumber dragged enough wet wipes out of the pipes to fill two bin bags.

Another tenant installed a tumble dryer in an unventilated inside closet, which caused huge damp and mould problems.

Then there were the decorating disasters, when tenants took it upon themselves to paper with the darkest wallpaper you could imagine, turning a white bright room into a dark and dingy funereal parlour.

A Manchester United fan plastered every wall in the house with red, black and white logo wallpaper.

, I’m done with lax letting agents, poor service and exploitative fees. I now do it myself, personally. And I charge lower rents because I’m not paying a significant percentage every month to agents.

I’ve known most of my current tenants for the best part of 30 years, since they were kids at school with mine. They don’t otherwise have the means to put a roof over their heads in their own community, because saving for a deposit or paying the extortionate fees demanded by letting agents is above their pay grade.

At one time they could have rented a home in our village from the local authority. There were council houses. In 1948 a Homes For Heroes housing estate was built adjacent to the old cottages to provide spacious affordable homes and vegetable gardens for a thriving post-war community. But when this social housing was sold off in the Thatcher years it wasn’t replaced. Local and national government outsourced their social responsibilities to the likes of me.

People who, in responsibly planning for retirement, chose property rather than a savings account or the stock market or a pension fund.

But now, decades on, buy-to-let landlords are portrayed as pariahs profiting from the misery of others in TV shows like Bad Tenants, Rogue Landlords. Or even on Homes Under The Hammer, on which vultures circle repossessed wrecks and grab affordable fixer-uppers, thus keeping others off the bottom rung of the property ladder.

The landlord tax burden

We are seen as legitimate targets for increased taxation and ludicrous legislation.

Let’s start with a letter I recently received from my local council, back before the Government announced a U-turn last month:

“The Government has announced plans to ensure that all private rented homes would be in a property with an Energy Performance Certificate grade C by 2028”.

I was asked to outline my action plan – despite the fact these rules were just proposals, not law – and it now looks as though the requirements won’t even be necessary.

For months, I worried about having to spend at least £3,500 and up to £10,000 on energy-saving improvements on my Victorian terraced houses, which are graded “E”. And all for nothing.

Meanwhile, more ludicrous legislation. Since January this year my tenant, in the flat I own, can’t hang her coat up in her own hallway. An inspector called, peered through the glass front door and then wrote to say her coat hooks and shoe rack were obstructing a shared public area and contravened new fire regulations brought in to protect people in tower blocks. But despite emails from me pointing out it’s not shared, is on the ground floor of a block of just three, and has patio doors onto a rear garden, I’m under caution to comply or have my lease revoked.

And then there’s taxation. Many landlords feel that they are viewed as a soft touch for politicians and an acceptable target by the electorate when it comes to further taxes.

Since 2016 stamp duty has been increased for “second homes”, and the interest paid on a home loan (mortgage) can no longer be offset against tax, while the cost of servicing loans for investment by companies still can.

We’re braced for it to get even worse. It’s widely believed that the rate of capital gains tax on property will be substantially increased to align with income tax bands and inheritance tax at 40pc.

By the way, CGT is supposedly tax on unearned income. But I’ve worked (hard) to buy, improve and maintain my houses. It’s a job I’ve never taken a penny for until two years ago.

Meanwhile, we all know we are liable to pay inheritance tax on what we’ve accumulated during our lifetime. But if I hang on to my houses until the bitter end, my beneficiaries will have to hand over 40pc of them. Paying in cash is one thing, but it quite literally brings it home to you what that means when it’s in the “bricks and mortar” that my dad so believed in.

Two out of five houses to the taxman. Do I really want to spend my remaining years with all my money tied up in houses I still have to fund, maintain and manage – ultimately for the sole benefit of the Treasury?

What’s the incentive to do that when I could sell up now, pay my dues and set sail into the sunset, spending the lot on a Grand Tour?

Meanwhile, landlords are being unnerved by the Renters Reform Bill.

If it becomes law, we won’t be able to regain possession of our rental properties, even for legitimate reasons like needing to live in it ourselves, or to house a family member.

We’ll also be obliged to accept pets – meaning I’ll have no control over any future problem dogs, even if they terrorise the neighbours.

“It might not seem fair, and individuals can make their own moral decisions, but the rational thing for landlords to do is to bring tenancies to an end now”, according to the National Residential Landlords Association.

And make people homeless? I’m not sure I can do that. Could you?

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So mcuh contradictaory wank.

Does she own the hosues, paid for. Or is she a IO BTL?

If she owns the houses , liek she says, then shes fine.

Does she let the houses to 'her firneds shes known sicne shcool'? Or to various scum - shes never seen????

Does she not grasp the CGT appleis all assets FFS?

Is shes living off the rents then CGY isnt a fuckign issue.

Is she was freelance then why in fuck di she not get ap nesion.

Has she owned these hosues fo 40y. Or 20?

Is she cant evict tenants then LL is the worng job for her.

I enu9nely cant sque the 'I own the hosues' and 'It’s a job I’ve never taken a penny for until two years ago.;

Its possible that she was usign all thr rent to pay off the mortgage.

But agian, I dont see the problem. Shes got 4?

Shes claism to have started down this road in 87.

Then she claims - 20y - 2003.





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  1. Drew Anderson12 HRS AGO

    I've resisted becoming a landlord since I believe BTL is a key reason why housing has become so expensive and unaffordable for young people. Landlords complain they're being treated unfairly but they've had it good for quite a while. It's time for youngsters to get a helping hand. EDITED


      Reply by St Cox.

      St Cox12 HRS AGO

      Just sounds like sour grapes to me. Like your virtue signalling though. EDITED


      Reply by Drew Anderson.




      Reply by Bob Station.

      Bob Station11 HRS AGO

      Actually economists agree that BTL was a significant factor in the heady increase in property prices to average income in the UK over the last 25 to 30 years. BTL lending effectively monetised property and made it like a stock market security which resulted in a step change in prices along with what was very favourable tax factors ( now much less).


      Reply by Mark Johnson.

      Mark Johnson11 HRS AGO

      Which economists are they then please ?

      Do you have some links to these articles ?


      Reply by Jeremy Shaw.

      Jeremy Shaw10 HRS AGO

      Oh come on! The only real cause of increases in values is simple supply and demand. If you applied your BTL theory on a saturated market where we built more property than there were people, prices would tumble. I’m fed up with this simpleton narrative blaming landlords.


      Reply by Brad Lee.

      Brad Lee8 HRS AGO

      You seem not to understand exactly to whom the available properties are being sold? I suppose you fondly believe it's newly-weds wanting to start a family! Do some research, man! EDITED


      Reply by Darren CS.

      Darren CS3 HRS AGO

      Rents used to be based on the cost of property and upkeep, now they are based on the maximum one can get away with. This was caused by the growth in BTL for the simple reason that the margin on BTL is an arbitrage play on mortgage rates, resulting in much higher rental values.

      This enabled all other kinds of landlords to jump on board with a 'market value' strategy that has no relation at all to the actual costs.

      The growing number of renters has enabled landlords to operate in an arena of zero competition. Someone who inherited a property or bought it for a song many years ago could keep a lid on rent inflation because their costs are much lower yet most don't because they can find tenants regardless.

      Building more property at a sufficient level would eliminate the BTL market.


      Reply by CY Tg.

      CY Tg1 HR AGO

      Apart from that also bcs of cheap money. Thats the main driving factor. See what happen if mortagage interest is 10%………


    Comment by Charlie Wotsit.

    Charlie Wotsit12 HRS AGO

    Past performance is not necessarily a guide to future returns.

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The bulk of leveraged BTL is IO.

For years,they were subsidised by taxpayer funded zirp,rising LHA, and paying tax on net icnome rather than gross as an OO would.

I don't have a lot of sympathy.

I think Natiowdies IO mrotgage book will be enough to require a fund rasiing let alone the other 75% OO.

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10 hours ago, Boglet said:


Choice pick of the quotes:

“By the way, CGT is supposedly tax on unearned income. But I’ve worked (hard) to buy, improve and maintain my houses. It’s a job I’ve never taken a penny for until two years ago.”

Oh get fucked, boomer.

I started reading but it went on and on and on.  What’s the issue in the article. They gave me an offer of the Telegraph for a year £25. 

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2 minutes ago, Ash4781b said:

I started reading but it went on and on and on.  What’s the issue in the article. They gave me an offer of the Telegraph for a year £25. 

nothing much i can see, its just a cunt going on about shit. Boring as fuck.

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5 hours ago, spygirl said:

Shes one properdee company - 


Dont hold any debt. Or muchnow.

Set up in 1994 - so does predate IO BTL.

Id guess she has IO BTLs.

hey, heres another sad face story to report on, see if you can work it out just from the sad face picture and the dabbing going on. Its not about ukraine or israel.


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