Gov allowing tenants to buy PRS housing

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  • Slackjawedyokel
    replied
    I am in a bit of a quandary about this. I have 2 approximately 100yr old houses on my land (a farm). I would hate to be in a position where I was forced to sell the houses (and have neighbours in the middle of my land I have absolutely no control over). I’d rather demolish the houses and have done with it.
    But if I demolish them, (apart from losing an income stream) I’d lose the ability to re-build in the future. My long term (20yr) plans are that, if either of my children wish to farm, I’ll demolish the houses and rebuild as my retirement home.
    I’m currently evicting one couple(s21), and am formulating plans to renovate that property but I’m wondering if it’s all worth it, what with the likely removal of s21 and the possible right to buy.

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  • jpkeates
    replied
    He's scarily rational sounding for a communist!

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  • flexy
    replied
    McDonnell is one dangerous fruit bat!

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  • jpkeates
    replied
    Originally posted by flexy View Post
    What's scary about them in terms of being a landlord? I may have missed something!
    They're committed to ending s21 and making long term (3 year) tenancies the default - without making headlines like labour do.

    Labour's priority is likely to be social housing (and affordable housing), with the PRS being taken on.
    The Lib Dems are quietly more radical about the PRS and I suspect that their manifesto this time will be quite tenant centric.

    Their headline (Remain) policy tends to block out any consideration of what else they propose and I think they may surprise a lot of people this time.
    They've got a fairly rational sounding leader for a start.

    Leave a comment:


  • flexy
    replied
    Originally posted by MdeB View Post
    No point worrying until there are concrete proposals in a bill.
    I agree, but that's the point where you're too late!

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  • flexy
    replied
    Originally posted by jpkeates View Post
    *I think the Lib Dems is likely to be the most scary.
    What's scary about them in terms of being a landlord? I may have missed something!

    Leave a comment:


  • Berlingogirl
    replied
    "the most wealthy" landlords he considers to be those who have more than 1 or 2 properties. it would be great if landlords with only 1 or 2 houses as their main income could be classed as "most wealthy".

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  • MdeB
    replied
    I've just heard a rumour that McDonnell stated on LBC last night that this proposal is being withdrawn.
    https://www.property118.com/landlord...comment-118304

    Or maybe only "the most wealthy" landlords will be affected.
    https://www.mortgagestrategy.co.uk/m...t-to-buy-plan/

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  • MdeB
    replied
    Originally posted by Berlingogirl View Post

    I'm not sure how I'll respond. I'll have to see the finer details. If the tenants have a RTB after, say 3 years, would issuing a tenancy renewal/ new tenancy mean the tenancy starts again as a new tenancy? Would issuing a s21 mean they couldn't buy? I've remortgaged, and with falling house prices (in some places) and the tenant discount, could I be forced into debt? How would it work for people with negative equity?

    I just don't know
    IIRC, the labour proposal was for the discount to be paid by the tax payer, not for LL to get less.

    However, anything could happen.
    No point worrying until there are concrete proposals in a bill.

    Leave a comment:


  • jpkeates
    replied
    At least the election means that the Labour Party (and the others*) will have to explain what its short term plans for the rental sector are and give some detail.

    They'll need a manifesto next week, I'd imagine.

    *I think the Lib Dems is likely to be the most scary.

    Leave a comment:


  • Berlingogirl
    replied
    Originally posted by flexy View Post
    So... if Labour get in, how do LLs here think they will respond? ;-) And how long until they will get in this right to buy legislation?

    I'm preparing to bail out!.....But I'm guessing I'm not the only one, so could be too late!
    .....Discuss!
    I'm not sure how I'll respond. I'll have to see the finer details. If the tenants have a RTB after, say 3 years, would issuing a tenancy renewal/ new tenancy mean the tenancy starts again as a new tenancy? Would issuing a s21 mean they couldn't buy? I've remortgaged, and with falling house prices (in some places) and the tenant discount, could I be forced into debt? How would it work for people with negative equity?

    I just don't know

    Leave a comment:


  • flexy
    replied
    So... if Labour get in, how do LLs here think they will respond? ;-) And how long until they will get in this right to buy legislation?

    I'm preparing to bail out!.....But I'm guessing I'm not the only one, so could be too late!
    .....Discuss!

    Leave a comment:


  • Berlingogirl
    replied
    Should be interesting. I never thought I'd be so old and mature enough to look forward with excitement to manifestos! And I'm not being sarcastic either.

    Leave a comment:


  • jpkeates
    replied
    Originally posted by Berlingogirl View Post
    I think this post is going a bit off subject. Keep your ears and eyes open for any news on the right to buy.
    General election in December!
    Means manifestos in a week or so.

    Leave a comment:


  • Berlingogirl
    replied
    I think this post is going a bit off subject. Keep your ears and eyes open for any news on the right to buy.

    Leave a comment:

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