How does Buy to Let END!

[spygirl]

40 minutes ago, Tdog said:

Just read that, seems the DT's readership is full of leveraged wankers who think they're entrepreneurs, as opposed to parasites.

I hope the fuckers are made bankrupt and jump off a cliff due to the distress it causes them. 

ToS had a great poster called blandundersight.

As she rightly pointed out 5 years ago, whrn s24 started - sell now, sell everything.

It really is that simple io btlers.

[One percent]

3 minutes ago, spygirl said:

ToS had a great poster called blandundersight.

As she rightly pointed out 5 years ago, whrn s24 started - sell now, sell everything.

It really is that simple io btlers.

In t’ord spot, they are bailing out of btl into holiday lets. 

[spygirl]

Just now, One percent said:

In t’ord spot, they are bailing out of btl into holiday lets. 

Not quite.

Last 5 years theyve been advised to chase tax breaks around holiday lets for properdee investment - aimed at the people who 'missed out on btl'

However...

They all piled into a handful of areas, whitby district being the northern one.

And theyve done this just as taxes changing from zero to punitive.

And, unlike btl, theres no ooo buyers.

[One percent]

1 minute ago, spygirl said:

Not quite.

Last 5 years theyve been advised to chase tax breaks around holiday lets for properdee investment - aimed at the people who 'missed out on btl'

However...

They all piled into a handful of areas, whitby district being the northern one.

And theyve done this just as taxes changing from zero to punitive.

And, unlike btl, theres no ooo buyers.

Of my four buildery types working on my house, three have btl that this year they have turned into holiday lets. Yes, I know it’s not a representative sample but I’m guessing they are ahead of the game (or at least the uninformed) as they will have an accountant to “advise “. I’m guessing (five years too late) that the advice was to get out of btl. 

[sleepwello'nights]

4 minutes ago, Tdog said:

He did predict it would hit the property market far sooner, and he certainly missed the point it doesnt touch the those earning under higher tax threshold, which are the ones that should have been targeted.

You must be a socialist, tax the poor and give tax breaks to the rich!

[JoeDavola]

1 hour ago, One percent said:

Of my four buildery types working on my house, three have btl that this year they have turned into holiday lets. Yes, I know it’s not a representative sample but I’m guessing they are ahead of the game (or at least the uninformed) as they will have an accountant to “advise “. I’m guessing (five years too late) that the advice was to get out of btl. 

Yup - AirBnb is the new BTL....

[King Penda]

On 08/09/2019 at 20:30, JoeDavola said:

This is what I'm hearing anecdotally.

It's astonishing how quickly 35 year mortgages have become accept as 'the norm' by young people.

Yep but many are skipping terraces and even old semis around here and going after brand new detached houses maybe the traditional ladders going tits up

[King Penda]

16 minutes ago, Tdog said:

Bland was a he, i heard him on the radio once.

He did predict it would hit the property market far sooner, and he certainly missed the point it doesnt touch the those earning under higher tax threshold, which are the ones that should have been targeted.

Would that not depend on how many houses they actually have  

[JoeDavola]

5 minutes ago, stokiescum said:

Yep but many are skipping terraces and even old semis around here and going after brand new detached houses maybe the traditional ladders going tits up

There is no ladder any more.

The ladder was only made possible by a combination of wage inflation (many people are now getting no pay rise or a pay cut year on year), low multiples of earnings required to buy a house, and IR's dropping during the lifetime of a mortgage.

Edited September 22, 2019 by JoeDavola

[King Penda]

Just now, JoeDavola said:

There is no ladder any more.

The ladder was only made possible by a combination of wage inflation, low multiples of earnings required to buy a house, and IR's dropping during the lifetime of a mortgage.

Bollarx I could buy another house from scratch within 2-3 months once I've got a 10 percent deposit that's 5 k on a 50k terrace or I can buy a semi and move up the surposed ladder and I would be doing it on my own no second wage 

[JoeDavola]

Just now, Tdog said:

But a lot of old houses in the UK needing knocking down as opposed to buying. Theyre potential money pits.

Maybe OK in London to buy 100 year old terraces and throw 100k at it, but not up north.

Yeah it's the same in Belfast tons of houses that haven't been looked after at all. Still asking plenty for them.

Some people just seem to have an unlimited amount of funds to throw at housing, I think it's such a part of the UK psyche that a lot of people don't know what to do with extra money (e.g. intermittence) except plough it al into housing.

1 minute ago, stokiescum said:

Bollarx I could buy another house from scratch within 2-3 months once I've got a 10 percent deposit that's 5 k on a 50k terrace or I can buy a semi and move up the surposed ladder and I would be doing it on my own no second wage 

The prices in your area do not reflect most of the UK.

[sleepwello'nights]

14 minutes ago, Tdog said:

Who are the poor? BTLers who've been bailed out with other peoples money for over a decade now, and gifted 2 decades of free money as handed over by the BoE, LIBLABCON?

I am someone who is aware that owner occupiers have had MIRAS removed long ago, and the same should apply to all BLTers, so the rules of the game are slightly more balanced.

Its quite remarkable that BTLers can offset income against their mortgage, yet someone who goes to work for 40 or 84 hours a week can't.

But i'm a capitalist hence why i'm against the current and previous regimes as they're socialist for asset holders.

 

You suggested increasing the taxes on those whose income, including BTL rents, doesn't exceed the standard rate income tax band and not those whose income, including BTL rents, exceeds the standard rate band.

Its what socialist governments always do, make life difficult for the majority so the minority prosper. 

Anyway sounds a bit like sour grapes on your part.

[King Penda]

2 minutes ago, JoeDavola said:

Yeah it's the same in Belfast tons of houses that haven't been looked after at all. Still asking plenty for them.

Some people just seem to have an unlimited amount of funds to throw at housing, I think it's such a part of the UK psyche that a lot of people don't know what to do with extra money (e.g. intermittence) except plough it al into housing.

The prices in your area do not reflect most of the UK.

That's irrelevant people can move I would love to live in Rocester my home village or uttoxeter I realised that was not possible so I moved to where I could buy I'm not a defeatist bastard and even I have my ambitions and so far my long term plans not far off the mark my ultimate goal is to own a house in stoke worth say 175-200k and that's potentially some fucking house in stoke I'd say I have a 75% chance of doing it on my own 

[King Penda]

4 minutes ago, sleepwello'nights said:

You suggested increasing the taxes on those whose income, including BTL rents, doesn't exceed the standard rate income tax band and not those whose income, including BTL rents, exceeds the standard rate band.

Its what socialist governments always do, make life difficult for the majority so the minority prosper. 

Anyway sounds a bit like sour grapes on your part.

I'm not well paid but even I have an inbuilt hatred for those that tax people that try to better themselves

[King Penda]

6 minutes ago, Tdog said:

But landlords are reliant on the £28bln a year Housing Benefit bill, if no one is taxed how do they get a cut of this?

All i am suggesting is "ALL" landlords are taxed exactly the same as non landlords, and all other people making investments.

If i suggested doctors should get tax breaks that nurses don't would that be reasonable?

So are the councils most landlords won’t rent to people on social 

[King Penda]

4 minutes ago, Tdog said:

I have another question for you.

Why should a landlord who has no debt be taxed on all his income .... yet a landlord who has borrowed to the hilt get tax breaks on potentially all of his income or at least some?

If you can answer this and the others in the comment above it'd be much appreciated. This seems to be the closest i can get to debating with the mindset of the DT comment writers.

Name me a council

not in debt if I rented a house out it would be this one that’s paid for I would buy another terrace to live in should I wish to go down that route I don’t give a fuck about buy to let I will take you some pics Tommorow if you want of stoke council replacing roofs on houses all in the same street and I doubt all 4-5 have sprung a leak at the same time you can’t miss the scaffolding it’s a criminal waste of money 

[King Penda]

2 minutes ago, Tdog said:

Its about taxation hence the article.

but i'm not going to stick up for any council why would i, they're full of useless braindead cunts, who participate in making land as expensive as possible.

If i had my way people would be able to build where they liked so there was  limited need for council houses, or vast sums in housing benefit .. or the need for huge planning departments. So people were taxed far less and housing costs were as cheap as they can possibly be. And parasitic cunt landlords wouldn't exist in their current guise. 

But then again i am a socialist.

The irony being im

probably a bigger socialist than many who spout such views after all I took a lodger in   Got him a job gave him my car and let him pay me back at a later date not up front however I say we are useing our housing stock

badly get these single or couple pensioners out of there 3 bed houses and bung them

in purpose built places a 3 bed house will house a family they only need1 bedroom that’s socialism to each there needs 

[macca]

5 minutes ago, stokiescum said:

badly get these single or couple pensioners out of there 3 bed houses and bung them

in purpose built places a 3 bed house will house a family they only need1 bedroom that’s socialism to each there needs 

WOW

Kick pensioners who have worked all their lives out of their house..

Mental what its come too..

OR

We could just stop importing 1 million people every 2 years?

I wonder how bad the country has to get before everyone notices that population increase makes everything MUCH MUCH WORSE!

It seems allot noticed hence Brexit,,

But I still see people claiming how beneficial it is..

How  sitting in 3 hour traffic jams everyday due to overpopulation improves family life..

How waiting 3 weeks to see your GP makes for a better society..

How sniffing the armpits of the guy on the train makes you more culturally diversified

AND

I really like that its not immigrations fault its austerity that creates the division..

BUT

They fail to see that debt has gone from £500 billion to £2 trillion since 2009, So to reverse austerity with no money is possible how exactly?

If immigration and EU membership makes us so rich, why does every single chart show we are getting poorer?

Mass immigration has always been to drive down wages and drive up house/land prices..#

 

NO hard working British OAP should be forced to leave their home to house the fucking world in this destructive Elite slavery scheme.. Cheap migrant slaves for CEO salaries

 

 

[King Penda]

13 minutes ago, macca said:

WOW

Kick pensioners who have worked all their lives out of their house..

Mental what its come too..

OR

We could just stop importing 1 million people every 2 years?

I wonder how bad the country has to get before everyone notices that population increase makes everything MUCH MUCH WORSE!

It seems allot noticed hence Brexit,,

But I still see people claiming how beneficial it is..

How  sitting in 3 hour traffic jams everyday due to overpopulation improves family life..

How waiting 3 weeks to see your GP makes for a better society..

How sniffing the armpits of the guy on the train makes you more culturally diversified

AND

I really like that its not immigrations fault its austerity that creates the division..

BUT

They fail to see that debt has gone from £500 billion to £2 trillion since 2009, So to reverse austerity with no money is possible how exactly?

If immigration and EU membership makes us so rich, why does every single chart show we are getting poorer?

Mass immigration has always been to drive down wages and drive up house/land prices..#

 

NO hard working British OAP should be forced to leave their home to house the fucking world in this destructive Elite slavery scheme.. Cheap migrant slaves for CEO salaries

 

 

It’s not there house though is it that’s the point of socialism

each to there needs tell me why they have a divine right to

a 3 bed house if there is one or two of them im

all ears  im

the biggest racist on here but I love to

play devils  advocat you won’t get the socialism

you want just what they give you and they love imigrents so suck

it up

 

Edited September 22, 2019 by stokiescum

[spygirl]

8 hours ago, Tdog said:

Bland was a he, i heard him on the radio once.

He did predict it would hit the property market far sooner, and he certainly missed the point it doesnt touch the those earning under higher tax threshold, which are the ones that should have been targeted.

I think bland was a she - Im sure heshe made that point.

Basic rate ta payer are caught out as they will struggle to get the LTV down. Otherwise the higher APR when the initial low APR deal ends kills them.

And lower earners struggle with voids. Two months non payment and the bank will repo the mortgage.

 

 

[spygirl]

6 hours ago, Tdog said:

But landlords are reliant on the £28bln a year Housing Benefit bill, if no one is taxed how do they get a cut of this?

All i am suggesting is "ALL" landlords are taxed exactly the same as non landlords, and all other people making investments.

If i suggested doctors should be able to offset interest payments on their mortgages against their wages, but that nurses aren't allowed to do this would that be reasonable?

This.

Forget all the BS on demand, LHA determines ~80% of UK rents.

 

[sarahbell]

On 24/04/2019 at 21:58, spygirl said:

Hadnt seen that. Oh dear. 550 please slumlord.

They put a hmo scheme in place 2-3 years ago. About time. North marine rd is as scummy as hell.

Ive been saying they need to structly regulate i.e get rid of the dossy flophouses within 1m of the sea side.

The walk from town is fucking disgraceful - bottom of eastborough is a shithole.

We will also apply a finders fee in cases where a landlord has not applied to licence their property and have to be found by the Council.

Hahahsha

They could offer rewards to people reporting them. Or just take note of the people reporting huge issues with ASB.

[One percent]

Don’t know if this has been posted but talking to a mate last night who has a rental in Cambridge. One tax change that she has just discovered is to capital gains tax when the property is eventually sold. She would currently expect the bill for this to be around 6 grand. Changes coming in, in april means it will jump to 40k. 
 

she wants ridas the changes to tax relief on mortgage repayments means she isn’t earning anything off the property. 
 

oh dear, never mind. 

[spygirl]

1 minute ago, One percent said:

Don’t know if this has been posted but talking to a mate last night who has a rental in Cambridge. One tax change that she has just discovered is to capital gains tax when the property is eventually sold. She would currently expect the bill for this to be around 6 grand. Changes coming in, in april means it will jump to 40k. 
 

she wants ridas the changes to tax relief on mortgage repayments means she isn’t earning anything off the property. 
 

oh dear, never mind. 

I dont think capital gains have changed that much.

I think shes had it wrong from the start.

 

[One percent]

Just now, spygirl said:

I dont think capital gains have changed that much.

I think shes had it wrong from the start.

 

She was adamant about the changes and even named the current plicy/legislation. Dunno. She reckons that she needs to get it sold as the changes come in in April.