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How does Buy to Let END!


macca

What happens when generation rent retire with tiny pensions and massive rent bills!  

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Update: courts are now hearing evictions cases, the backlog means some cases are having to be scheduled for 2022 !
Good luck getting any rent from tennants now they know they can have another 12 months rent free !

 

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Edited by Andersen
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Wight Flight
8 minutes ago, Andersen said:

Update: courts are now hearing evictions cases, the backlog means some cases are having to be scheduled for 2022 !
Good luck getting any rent from tennants now they know they can have another 12 months rent free !

 

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I don't understand why landlords go this route.

Surely small claims, CCJ, bailiffs and attachment of earnings order would be better?

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10 hours ago, Wight Flight said:

I don't understand why landlords go this route.

Surely small claims, CCJ, bailiffs and attachment of earnings order would be better?

Don't tell them how to do things properly...

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  • 1 month later...

It appears that a big part of scrapping in the covid spend is going to fall on investment housing, be it BTL or holiday homes.

A lot of Northern IO BTL will be unaffected by CGT changes, mainly as they are well under water.

his is targetted at Souther BTL.

Sorting out furnished holiday lets so they pay 2x - 3x tax than a local OO rather than 0, zilch, nadah, will also be a good start.

 

 

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On 12/11/2020 at 08:45, spygirl said:

It appears that a big part of scrapping in the covid spend is going to fall on investment housing, be it BTL or holiday homes.

A lot of Northern IO BTL will be unaffected by CGT changes, mainly as they are well under water.

his is targetted at Souther BTL.

Sorting out furnished holiday lets so they pay 2x - 3x tax than a local OO rather than 0, zilch, nadah, will also be a good start.

 

 

Considering how many hundreds of thousands if not millions who do not declare (look at what they discovered in I think it was Newham or Tower Hamlets) how are they going to get enough money out of CGT on BTLs? 

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  • 3 weeks later...
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On 13/11/2020 at 10:58, HolyCow said:

Considering how many hundreds of thousands if not millions who do not declare (look at what they discovered in I think it was Newham or Tower Hamlets) how are they going to get enough money out of CGT on BTLs? 

HMRC know whos got mortgages, who owns the house etc etc.

They just want the LL to own up.

Theres also a law that makes the solictor check for any unpaid taxes.

 

 

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25 minutes ago, spunko said:

Investing in buy-to-let properties. My best purchase was probably a four-storey house in Liverpool which I bought at auction for £11,200 in 2002

I spent £140,000 doing it up and have been renting it out ever since. It's probably now worth between £350,000 and £400,000.

??????

Id wish theyd put postcodes for these article.

https://www.home.co.uk/guides/house_prices_report.htm?location=liverpool&all=1

Thats a very wierd spike for detached houses esp for the North.

Liverpool has been emptying for 40 years.

 

 

 

 

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https://www.landlordtoday.co.uk/breaking-news/2020/11/regulator-warns-buy-to-let-lenders-to-be-strict-on-borrowers

Cant lend to high earners as the s24 tax means the yields are shit.

Cant lend to low earners as they dont have the income to cover the voids.

Just need to shitcan  IO lending and move them all to 10y repayment mortgages.

Job done.

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On 30/11/2020 at 19:12, spygirl said:

https://www.landlordtoday.co.uk/breaking-news/2020/11/regulator-warns-buy-to-let-lenders-to-be-strict-on-borrowers

Cant lend to high earners as the s24 tax means the yields are shit.

Cant lend to low earners as they dont have the income to cover the voids.

Just need to shitcan  IO lending and move them all to 10y repayment mortgages.

Job done.

Nah.

Just bang the rent up, innit.

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6 minutes ago, spygirl said:

Year in, the number of btl mortgages fall, the apr rises and the LTV falls.

https://www.thisismoney.co.uk/money/buytolet/article-8993237/amp/A-buy-let-mortgages-vanish-AI-tool-help.html

People who fixed 2 or 5 years ago will it more expensive to remortgage.

 

 

but could a new AI deal finder help?

Nope but it sounds good.

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17 minutes ago, spygirl said:

Year in, the number of btl mortgages fall, the apr rises and the LTV falls.

https://www.thisismoney.co.uk/money/buytolet/article-8993237/amp/A-buy-let-mortgages-vanish-AI-tool-help.html

People who fixed 2 or 5 years ago will it more expensive to remortgage.

 

 

Somebody needs to let the author know that fudging application information and a database-linked search engine doesn't qualify as 'artificial intelligence'.

Being a BTL landlord does, though.

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  • 2 weeks later...

https://www.bbc.co.uk/news/uk-55331081

 

Leading UK property websites are hosting rental listings that may unlawfully discriminate against people who claim benefits, a BBC investigation has found.

The majority of adverts on SpareRoom and OpenRent say people on benefits will not be considered as tenants.

"It's very demoralising," said Emma, a single mother from London. "Everyone deserves housing."

The rental platforms said they were working to address the issues.

In July, a judge ruled that blanket bans on renting properties to benefits claimants are unlawful and discriminatory, breaking the 2010 Equality Act on grounds of sex and disability.

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1 hour ago, Green Devil said:

https://www.bbc.co.uk/news/uk-55331081

 

Leading UK property websites are hosting rental listings that may unlawfully discriminate against people who claim benefits, a BBC investigation has found.

The majority of adverts on SpareRoom and OpenRent say people on benefits will not be considered as tenants.

"It's very demoralising," said Emma, a single mother from London. "Everyone deserves housing."

The rental platforms said they were working to address the issues.

In July, a judge ruled that blanket bans on renting properties to benefits claimants are unlawful and discriminatory, breaking the 2010 Equality Act on grounds of sex and disability.

Emma lives in a privately rented one-bedroom flat with her son. "I pay my rent on time every month," she said, "I have references to prove that as well as a guarantor."

Despite this, she has been unable to find a larger flat for two years. "I'm in receipt of benefits, so landlords won't take [me]." she explained. "They'll gaslight you, ignore you."

No you dont.

Rather than saying 'professional' they could just ask for a work reference.

And now shes just lost all sympathy:

Emma said landlords should not assume that benefit claimants will be unreliable tenants. "In this economy, my benefits are more stable than your job," she added.

 

She can fuck off to boro and live with he other dossers.

Thats the house she deserves

 

 

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6 hours ago, spygirl said:

Emma said landlords should not assume that benefit claimants will be unreliable tenants. "In this economy, my benefits are more stable than your job," she added.

Sadly she is probably correct.

But not quite as secure as pensioners.

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When the last fucktard cant remortgage....

https://www.propertywire.com/blog/limited-company-buy-to-let-is-an-underserved-market/

Limited company buy-to-let has become a key part of the market for landlords.

As the government gradually removed mortgage income tax relief for higher rate taxpayers between 2017 and 2020, limited company buy-to-let became an increasingly prominent part of the market.

Landlords are usually able to borrow more via a limited company, as they are stress tested against an Income Coverage Ratio of 125%, rather than 145% for a higher rate taxpayer operating as an individual.

 

Person is not equal to LtdCo. The bank would need to see the LtdCo income before they lend against it. Chicken n egg.

 

Plenty of specialist lenders have gotten involved in the market, but too many charge onerous upfront fees – some are around 2.5% of the loan amount, which gets seriously expensive when you’re talking about high value mortgages in and around London and the South East.

There’s also a lack of high street options

 

Banks are there to make money from their borrowers, not allow borrowers to make money from their capital.

 

The biggest name in the market is probably The Mortgage Works, Nationwide’s buy-to-let brand, but its limited company products are more expensive than regular buy-to-let.

This is something I struggle to understand.

I don’t see how a buy-to-let landlord operating through a limited company is riskier than an individual buy-to-let landlord – ultimately the onus is on the borrower to repay the mortgage, regardless of how things are structured.

Indeed, some of the specialist lenders price limited company products the same as regular buy-to-let, but ultimately all their rates are relatively high.

 

What is  hard to understand - unless you are a moron.

 

All this is to say, currently it feels like landlords are being punished by operating through a limited company after being pushed in this direction by HMRC. Their tax savings are ultimately going to mortgage lenders instead of the government – this doesn’t sit right.

These additional costs will ultimately end up being passed on to the UK’s overburdened tenants, while landlords are losing cash they could otherwise spend on upgrading their properties.

Considering how common limited company buy-to-let has become, I hope we get more high street mortgage lenders join the market in the years ahead.

For the market to be fairer to the nation’s landlords, and therefore tenants, we surely need more competition to ensure our lenders have to work harder for our business.

 

This fucktard is confusing nicely nicely consumer borrowing with the blood sport of commercial borrowing.

Every - and I mean every competent business person I ever spoken says tge same thing- keep your borrowing low.

Anyone whis been thru a slowdown with bank leverage

 

 

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I had to read the headline twice to make sure it said under-served rather than undeserved market

As it's not actually under served it's just that no-one wants to take the risk involved heck most limited company landlords I know used to fully own their properties the only reason for moving them to a limited company was some sneaky short-term tax advantages as the initial "loan" the company used to "purchase" the property is repaid.

Edited by eek
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With a loss or tax bill.

CGT hike risks mass exodus from the BTL market

https://propertyindustryeye.com/cgt-hike-risks-mass-exodus-from-the-btl-market/

  1. JamesB

    Landlords won’t be able to exit in time if he starts this from April

    it may well reduce new landlord investment though

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  2. LVW4

    The cuts to CGT reliefs over recent years have already had a major impact on BTL. I was fortunate to exit the London market when I did, but was still hit quite hard. Today, unless a landlord has been in that market for many years, their will be very little capital appreciation, and it looks like rents will also drop, hitting yields. Of course, it will hit capital appreciation everywhere, it’s just that there is less outside London. In short, I can’t see this as a ‘future’ for smaller landlords just starting out, and once I’ve offloaded my Yorkshire BTLs, I’m out of the PRS.

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I tend to have a look at HMRC tax avoiders list.

https://www.gov.uk/government/publications/publishing-details-of-deliberate-tax-defaulters-pddd/current-list-of-deliberate-tax-defaulters

Alongside the usual builders, sub continentals n Chinky eateries, there are now

- EE haulage.

- Nailbars

-Income from property.

As an aside, the list shows a few share fishermen, up n down the country. There are fuckall share fishermen in the UK, a few 100 tops.

What this shows is what I mentioned earlier - when HMRC finds one person/job type dodging tax they look for others in the same area.

I dont remember rental income avoidance being on the list  few years ago. It is now.

Remember the list is top of iceberg, the non payers.

 There'll be 1000s of LL whove been shook down n paid the tax due.

 

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Nervously taking your food back to your cell on the Nonce wing ...

https://www.dailymail.co.uk/news/article-9105215/Preyed-sex-rent-landlords-Men-touting-rooms-exchange-sexual-favours.html

DM makign a thing of this again.

Just been on a long feature on R4 ...

Halfwits are trying to blame  craiglsits.

In a shocking example of brazen exploitation, one advert offering sex for rent was titled: 'Has Covid-19 stolen your future?' Another, based in West London, advertised for an 'eager to please and eager to succeed university student or recent graduate who may have found herself without accommodation... because of the pandemic'. The men, often over the age of 40, predominantly target women between the ages of 18 and 25. Posing as a 21-year-old student, Mail reporters said they had lost their job due to Covid, could no longer afford rent and needed a place to stay.

Wow!!

All of the men immediately requested pictures. After sending pictures of their face, reporters were repeatedly asked for 'full body' photos as well as their height and bust size. Disgusting predators also asked whether they had a boyfriend and if they were 'open-minded'. Many began sending disgusting messages outlining their expectations.

37500262-9105215-image-a-13_160953795812

37500266-9105215-image-a-15_160953799905

 

Simpe l fix,.

Target the ads, work with police and LA to get them banned from renting. Letter to mortgage bank too.

 

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reformed nice guy

I think it is wrong but what a strange world we live in.

By this I mean that things like OnlyFans or even straight up prostitution is being actively promoted by the media, yet as soon as the transaction is offered for accommodation rather than hard cash then it is suddenly immoral?

They need to decide whether sex work is wrong or "liberating". Its currently a paradox. Call it Schroginers minge

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