How does Buy to Let END!

[spygirl]

11 minutes ago, Plan-b said:

This looks like a leasehold, the landlord says they're 15 years into this property and the situation is fine. I don't know how many 'landlords' are in this hole but due to the last few years madness of crowds boom time buying say's quite a lot.

If this is true there is no way this kind of BTL situation can continue, mass defaults and distressed property listings galore ahead.

Oh oh! Soon goigng to get my predicted 10% IO BTL SVR.

The next stages are - 

15% SVR.

Followed by banks calling the money in.

 

[One percent]

4 minutes ago, Wight Flight said:

Swings and roundabouts.

Yes, I’m sure that the landlord, when interest rates were at historic lows, said to the tenant. “You know what, the mortgage is so cheap, I’m going to cut your rent.”   Idiot.  

[Plan-b]

27 minutes ago, One percent said:

Yes, I’m sure that the landlord, when interest rates were at historic lows, said to the tenant. “You know what, the mortgage is so cheap, I’m going to cut your rent.”   Idiot.  

The idiot should have been paying down the capital over the last 15 years, probably got several similar setups. Oh and a Range Rover

Edited September 20, 2023 by Plan-b

[leonardratso]

that page is gone

[Stuey]

5 hours ago, Bear Hug said:

I hate the BBC!

 

Using others' fossil fuels while leaving ours in the ground until a shortage?

Perfidious Albion indeed...

Edited September 20, 2023 by Stuey

[Bear Hug]

32 minutes ago, Stuey said:

Using others' fossil fuels while leaving ours in the ground until a shortage?

Perfidious Albion indeed...

More like until "we, too, are fossils"

[spygirl]

What can landlords do about section 24?

https://www.taxpolicy.org.uk/2023/09/15/section24/

Following our report on Property118, landlords have been getting in contact and asking what they should be doing. Tax Policy Associates doesn’t, and can’t, provide tax advice – but it’s a fair question. Here’s a quick summary of how we see things:

Section 24 of the Finance (No. 2) Act 2015 amended the UK tax code to restrict landlords’ ability to deduct their mortgage interest costs from their taxable rental income.

A landlord whose business looked like this in 2015:

Now looks like rather different – after tax, he’s making a loss:

That’s a huge deal for buy-to-let landlords, and it’s understandable that many are desperate for a structure that fixes the problem. There is no such structure.

[spygirl]

What is the third choice?

There isn’t one.

Trusts, LLPs, offshore arrangements… not only are they very likely to fail when challenged, but the consequence could be much much worse than if you’d done nothing at all. SDLT plus CGT could easily be a six figure sum. And complex structures can easily have complex, and expensive, additional tax consequences.

Whether you’re a multinational executing a £10bn M&A transaction, or a landlord considering incorporating a one-property business, the key tax question is always the same: “how much do I benefit if this goes right, and how much do I lose if this goes wrong?”.

Even if the Property118 structure probably worked (which it doesn’t!) the downside risk of it going wrong is much, much larger than the benefit.

[spygirl]

2015.

Explains it all

https://drive.google.com/file/d/0B24wHuyDETj3T3dXX015eXBnV00/view?pli=1&resourcekey=0-N2e2j0ViKFbeBjzCzgZPeg

[One percent]

2 minutes ago, spygirl said:

2015.

Explains it all

https://drive.google.com/file/d/0B24wHuyDETj3T3dXX015eXBnV00/view?pli=1&resourcekey=0-N2e2j0ViKFbeBjzCzgZPeg

Ooh, is that one of your course essays?   

[spygirl]

https://drive.google.com/file/d/0B24wHuyDETj3dzNzS1E5V1lfNkU/view?resourcekey=0-3F26BOjvpvnH1dIAXn-ZHQ

[Bear Hug]

@spygirl any idea what this is about? Same structure as discussed above?

https://www.thisismoney.co.uk/money/buytolet/article-12532349/Spike-landlords-buying-properties-companies-order-pay-tax.html

474 comments

• So far this year, 74% of new buy-to-let purchases were made via a company
• Prior to 2018, less than 50% of landlords' properties were bought in this way 
• Company structure is a way to cut income tax and inheritance tax 

[spygirl]

13 minutes ago, Bear Hug said:

@spygirl any idea what this is about? Same structure as discussed above?

https://www.thisismoney.co.uk/money/buytolet/article-12532349/Spike-landlords-buying-properties-companies-order-pay-tax.html

474 comments

• So far this year, 74% of new buy-to-let purchases were made via a company
• Prior to 2018, less than 50% of landlords' properties were bought in this way 
• Company structure is a way to cut income tax and inheritance tax 

No problem buying a rental via a compnay.

....

if you can a mortgage - banks dont like LtdCo mortgages. Some of the BS wont do them at all.

Agai,. tis one of tehse badly thought diea on proerdee ivnesment.

IO BTL were grosly mispriced.

LtdCo mortgages are not.

 

[Formerly]

8 minutes ago, spygirl said:

Agai,. tis one of tehse badly thought diea on proerdee ivnesment.

Did you outsource that sentence to the Indian contractors that you are always praising?

[No One]

On 17/09/2023 at 19:55, Bobthebuilder said:

Do you not keep up with this thread dear?

@No One has been posting a fantastic chart on listed properties, it has almost gone exponential in the last year.

Bastards kept at 5.25%, new record in listings since I started.

 

[No One]

23 hours ago, spygirl said:

https://drive.google.com/file/d/0B24wHuyDETj3dzNzS1E5V1lfNkU/view?resourcekey=0-3F26BOjvpvnH1dIAXn-ZHQ

you wrote a book?

[Chewing Grass]

2 minutes ago, No One said:

Bastards kept at 5.25%, new record in listings since I started.

 

Similar to my graph in NW England, took of at the start of 2023 then has been wallowing since July, think your chart is about 3 months in front of mine, are you down S.

[spygirl]

4 minutes ago, No One said:

you wrote a book?

No. Nit me.

It's a good book.

 

[Bobthebuilder]

5 minutes ago, No One said:

Bastards kept at 5.25%, new record in listings since I started.

 

Nice work.

Right that chart top has some spikey tits look forming. @nirvana what do you think oh wise one?

 

[Chewing Grass]

23 hours ago, spygirl said:

2015.

Explains it all

https://drive.google.com/file/d/0B24wHuyDETj3T3dXX015eXBnV00/view?pli=1&resourcekey=0-N2e2j0ViKFbeBjzCzgZPeg

Like the quote from 2013 from the glubberment.

The fact is that the economy that we inherited was completely unbalanced. It was based on
housing, it was based-on finance, it was based on Government spending and it was based on
immigration. Those were four incredibly unstable pillars for sustained economic growth, and
what we have had to do is a major recovery operation.

David Cameron, House of Commons, 30th January 2013

Done fuck-all then...

[No One]

13 minutes ago, Chewing Grass said:

Similar to my graph in NW England, took of at the start of 2023 then has been wallowing since July, think your chart is about 3 months in front of mine, are you down S.

down south, not really, middle-lands

[nirvana]

8 minutes ago, Bobthebuilder said:

Nice work.

Right that chart top has some spikey tits look forming. @nirvana what do you think oh wise one?

 

lol not sure what the graph is mate? 'spikey tits' aka 'double top' are indicative of a 'top forming'....

that one looks like a 'runaway train'! ie the up trend is strong......although yeah, the trend is your friend till the bend at the end.....which is why I'm not really that wise I'm afraid....your emotions always get in the way...but I'm working on em 

[Chewing Grass]

Faisal Islam quote from Spy's book.

What none of us took into account was the extreme abnormality of the mortgage market, the availability of finance. We should have followed the money more closely. I do have regrets. There was a media failure as well as a political and regulatory failure.

Well never mind houses that described the Covid and Vax lies as well, probably much more.

Edited September 21, 2023 by Chewing Grass

[No One]

5 minutes ago, nirvana said:

lol not sure what the graph is mate? 'spikey tits' aka 'double top' are indicative of a 'top forming'....

that one looks like a 'runaway train'! ie the up trend is strong......although yeah, the trend is your friend till the bend at the end.....which is why I'm not really that wise I'm afraid....your emotions always get in the way...but I'm working on em 

[nirvana]

27 minutes ago, No One said:

Bastards kept at 5.25%, new record in listings since I started.

yeah cos the Central Bankers are co-ordinated.....can't raise when the yankees and SNB hold...

what's the numbers? percentage of houses for sale in a particular area? where do you get that data from? cheers

Edited September 21, 2023 by nirvana