This could prove very scary

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • AndrewDod
    replied
    Originally posted by boletus View Post
    If landlords are genuinely concerned about this, what are they doing to mitigate against it?
    Tenant selection: In my case I would not let to anyone with UK roots, and have not done so for some time. All of my tenants are foreign nationals with a clear temporary reason to be in the UK. Discriminating against locals is not racism I guess in the brave new world.

    Rate of rent: The highest possible in case later capped at current values (coupled with no-deposit)

    Retaining as much liquid capital as possible which means some selling up: When Corbyn has crashed the economy and fully destroyed the future of our youth I'll decide how best to spend.

    Leave a comment:


  • boletus
    replied
    If landlords are genuinely concerned about this, what are they doing to mitigate against it?

    Leave a comment:


  • jpkeates
    replied
    Thanks. Interesting.

    Leave a comment:


  • jpkeates
    replied
    Worse, Corbyn is useless and McDonnell is very effective.

    Leave a comment:


  • loanarranger
    replied
    What could go even worse than Jeremy Corbin becoming Prime Minister is John McDonnell becoming leader of the Labour Party , whilst Corbin is Marxist , McDonnell is Troxyite

    Leave a comment:


  • AndrewDod
    replied
    Anyway we have just moved one step closer to a Marxist loonie-bin semi-dictatorship courtesy of Philip Hammond, David Gauke, Grieve, Ken Clarke, Letwin and others. Well done guys and thanks -- exactly what I voted for. What could possibly go wrong?

    Leave a comment:


  • JK0
    replied
    Originally posted by jpkeates View Post
    Could you point me at that - selling freeholds to long leaseholders has a well established set of rules?
    https://en.wikipedia.org/wiki/James_v_United_Kingdom

    Leave a comment:


  • jpkeates
    replied
    Originally posted by JK0 View Post
    The Duke of Westiminster tried to use the ECHR to avoid having to sell his freeholds to his lessees. He lost due to the 'public utility' clause. According to today's Mail, there won't be any top up from the tax payer.
    Could you point me at that - selling freeholds to long leaseholders has a well established set of rules?

    Leave a comment:


  • JK0
    replied
    Originally posted by jpkeates View Post
    Letting a tenant buying someone else's property isn't a matter of 'public utility'.
    That's the problem.

    'Public utility' is the principle used to buy land to knock down someone's home to build HS2 because their rights as an owner of property are outweighed by the needs of the public for a new railway that lots of people will use that can't otherwise happen.
    Or a compulsory purchase to build a new housing estate or Heathrow runway.

    The needs of the many outweighing the need of the one is an essential part of the principle.
    Very Star Trek.

    And, even in cases of public utility, the state has to properly compensate the person losing out (even though the compensation is for the property, not any sentimental value etc).
    The Duke of Westiminster tried to use the ECHR to avoid having to sell his freeholds to his lessees. He lost due to the 'public utility' clause. According to today's Mail, there won't be any top up from the tax payer.

    Leave a comment:


  • jpkeates
    replied
    Originally posted by AndrewDod View Post
    a) The thing normally happens incrementally - once most people are clued in they are trapped.
    b) How exactly would you give notice, and on what grounds. That is hard enough now.
    a) Fair point, I have some personal red lines and try and keep up to speed (personally rather than rely on other people). No s21 (without some compensatory replacement) is one.

    b) s21. Retrospective legislation isn't practical, so you're going to get some warning.

    Given the last few years, my confidence in the fundamental processes of UK parliament safeguarding the norm have undergone a bit of a bashing, but I still think Corbyn isn't electable.
    He has one great chance, in 2017, and didn't quite make it, and since then, he's drowning in antisemitism, brexit and just plain not being very good.
    If there's an election this year, Labour and the tories will be ripped to shreds.

    Leave a comment:


  • AndrewDod
    replied
    Originally posted by jpkeates View Post
    The first reading of a bill that threatened any of those things would see every tenant from switched on landlords receive notice.
    Now switched on landlords aren't that numerous, but have a lot of properties.

    The moment the government commenced legislation to move shares to employees, shares would be moved off shore.

    It's all a load of hot air and populist nonsense.
    I think the problems are that

    a) The thing normally happens incrementally - once most people are clued in they are trapped.
    b) How exactly would you give notice, and on what grounds. That is hard enough now.

    I'm less confident that a thick-as-two-bricks set of ideologue politicians would not do thick things, whether enhanced by hot air or otherwise.

    Leave a comment:


  • jpkeates
    replied
    The first reading of a bill that threatened any of those things would see every tenant from switched on landlords receive notice.
    Now switched on landlords aren't that numerous, but have a lot of properties.

    The moment the government commenced legislation to move shares to employees, shares would be moved off shore.

    It's all a load of hot air and populist nonsense.

    Leave a comment:


  • AndrewDod
    replied
    There are lots of ways it could be done.

    Method 1:
    =======
    a) Change tenancy law to make it practically impossible to get rid of a tenant ever, including via inheritance of tenancies
    b) Simultaneously cap rents to that which the state will determine
    c) Make sure that all repairing obligations remain intact and are brutally enforced

    Then give sitting tenants a right to buy in competition with the general market who will be purchasing their tenancy.

    Prices will be automatically reduced by around 50% or more, and landlords will be only too willing to take the hit.

    method 2:
    =======
    - Put stamp duty on the seller
    - Hike stamp duty to 20% for properties which are not your own home except where the purchaser is a tenant

    Method 3
    ======
    Simply resort to force and appropriation. Say properties above where landlord does not sell, and does not maintain (or is unable to maintain) state will take over in the interest of the tenant, or levy such fines as will make that so if the owner does not so agree.

    Sieg Heil, John McDonnell

    Leave a comment:


  • jpkeates
    replied
    Originally posted by JK0 View Post
    I did think of that, and looked it up yesterday. It's okay if it's for 'public utility'.
    Letting a tenant buying someone else's property isn't a matter of 'public utility'.
    That's the problem.

    'Public utility' is the principle used to buy land to knock down someone's home to build HS2 because their rights as an owner of property are outweighed by the needs of the public for a new railway that lots of people will use that can't otherwise happen.
    Or a compulsory purchase to build a new housing estate or Heathrow runway.

    The needs of the many outweighing the need of the one is an essential part of the principle.
    Very Star Trek.

    And, even in cases of public utility, the state has to properly compensate the person losing out (even though the compensation is for the property, not any sentimental value etc).

    Leave a comment:


  • JK0
    replied
    Originally posted by jpkeates View Post
    Well, he did suggest it, so there's a chance.

    There's an issue with the state simply taking property away from people.
    You'd probably end up in the European Court of Human Rights (even post Brexit).
    I did think of that, and looked it up yesterday. It's okay if it's for 'public utility'.

    Leave a comment:

Latest Activity

Collapse

  • Reply to BTL - LTD Company Money
    by Gordon999
    The Ltd company is a separate tax entity . If the company buys a property , the company pay tax on its annual rental income minus the annual expenses. These allowable expenses can include letting agent, property maintenance and mortgage loan interest. The annual rental income less allowable expenses...
    09-07-2020, 19:14 PM
  • BTL - LTD Company Money
    by VPatel2707
    Hi There,

    Please can someone help me with a query?

    I am looking to purchase a BTL property through a LTD Company - but I am slightly confused how the money element works.

    I’ve read online that the Director can pay themselves a salary and as long as that’s...
    07-07-2020, 06:57 AM
  • Reply to BTL - LTD Company Money
    by ash72
    You should talk with an accountant, as it depends upon a number of questions, are you intending on buying more properties? Are you going to finance the purchase through a mortgage or from cash?...
    09-07-2020, 10:08 AM
  • Mortgage News
    by loanarranger
    The following article has appeared in one of the Mortgage Trade journals reporting on views expressed by the Association of Mortgage Intermediaries an influential trade body within the mortgage industry.

    "Mortgage rates are likely to rise in the first quarter of 2016 as lenders look...
    23-12-2015, 19:43 PM
  • Reply to Mortgage News
    by loanarranger
    Virgin Money gets tough on Lending Criteria

    Tomorrow, Thursday 9 July, we will update our lending policy for customers who have County Court Judgements (CCJs) or who have defaulted on an item of credit.

    We will no longer accept cases where a CCJ or defaulted account remains...
    09-07-2020, 04:16 AM
  • My unexpected tale of selling my BTL
    by feederking
    Some months ago I decided to sell my Manchester BTL terraced after 8 years owning.Tenants left 1 week before lockdown in March a week later it happened & thought well thats it for selling.
    Anyway spend the last 3 months a few hours weekly decorating,new flooring,carpets etc.It went up for...
    03-07-2020, 22:03 PM
  • Reply to My unexpected tale of selling my BTL
    by boletus
    I'm sure there were, a small minority of areas still haven't recovered.
    But on average, it was 2014....
    08-07-2020, 11:11 AM
  • Reply to My unexpected tale of selling my BTL
    by jpkeates
    There were a load of newspaper articles in 2018 which announced that prices had returned to pre-crash levels....
    08-07-2020, 08:49 AM
  • Reply to My unexpected tale of selling my BTL
    by buzzard1994
    The government "strategy", if it can be called that, is indeed to import millionaires but after the incompetence they have shown in the last few months will they want to come here. There will be other pandemics, there will be climate change - New Zealand is looking pretty good right now..
    08-07-2020, 05:11 AM
Working...
X