'I own 75 buy-to-let properties but I haven't deprived other buyers'

[LondonManc]

Buy to let was useful for the government to keep houses full. Now with supply less than demand, they don't really want to build more homes. Need to protect the London property bubble to prevent other red flags going off. Make the immigrant crisis flavour of the month to hide the real news.

[IR35 Avoider]

He reckons his portfolio is worth £6.4m, against which there is a modest £2.4m borrowing.

I don't know how willing banks are to lend to small property companies, but surely it can't be impossible to borrow just over a third of the value of the portfolio.

Selling a third of the portfolio isn't a bad option either. I suspect he can only see the reduced income and not the reduced risk, despite the fact that he apparently realises interest rates might go up.

[BrilloPad]

So everyone will hold off buying now, which means a lot more renters, which means more people looking to rent, less property on the rental market, higher rents, means more profit for BTL.

Osborne is a sneaky **** isn't he?

Some will hold off buying. But there will still be more buyers than sellers.

Once prices start to drop it might be different.

This story is the same as those that say "we earn £200k a year but are not well off". Some have a huge sense of entitlement that makes them unuseful to society.

You can tell what God thinks of money. Look at those he gives it to.

[The Spartan]

Some will hold off buying. But there will still be more buyers than sellers.

Once prices start to drop it might be different.

This story is the same as those that say "we earn £200k a year but are not well off". Some have a huge sense of entitlement that makes them unuseful to society.

You can tell what God thinks of money. Look at those he gives it to.

You know you'd buy a BTL if you could Brillo

[NickFitz]

hardly the point, if we reduced you to benefits you would muddle on.

The man has built up a business and this tax change will ruin it.

I say again who do you think will take over being a landlord, are you sure they will be a better option or rents will stay so affordable?

Going from £80,000 p/a to £60,000 p/a does not constitute ruin

Even by the figures in the article, there will still be a profit to be turned. If some people decide that profit isn't enough for them to be bothered with and choose to take nothing (or invest elsewhere) instead, I'm sure there will still be plenty of people willing to pick up the 60,000 crumbs that remain.

Isn't that how these free markets everyone loves are supposed to work?

[TestMangler]

Going from £80,000 p/a to £60,000 p/a does not constitute ruin

Even by the figures in the article, there will still be a profit to be turned. If some people decide that profit isn't enough for them to be bothered with and choose to take nothing (or invest elsewhere) instead, I'm sure there will still be plenty of people willing to pick up the 60,000 crumbs that remain.

Isn't that how these free markets everyone loves are supposed to work?

Does it not cease being a free market when it is targeted by government action which changes the shape of the market ?

[MarillionFan]

Some will hold off buying. But there will still be more buyers than sellers.

Once prices start to drop it might be different.

This story is the same as those that say "we earn £200k a year but are not well off". Some have a huge sense of entitlement that makes them unuseful to society.

You can tell what God thinks of money. Look at those he gives it to.

£200k a year is not a lot of money I can assure you that. Tax and NI on that is £85K a year.
A take home of < 10K per month isn't even enough to take the family to Florida business class, let alone pay for hotels and Disney tickets.

The feckers already take a 100K off me and now they want to hit me more on my BTLS and Pension.

I can only afford to drink champagne at the airport now. It's a bloody travesty.

[AtW]

The man has built up a business and this tax change will ruin it.

How is it a business, without any corp tax, business rates, employer NICs etc etc etc?

[MarillionFan]

Going from £80,000 p/a to £60,000 p/a does not constitute ruin

Even by the figures in the article, there will still be a profit to be turned. If some people decide that profit isn't enough for them to be bothered with and choose to take nothing (or invest elsewhere) instead, I'm sure there will still be plenty of people willing to pick up the 60,000 crumbs that remain.

Isn't that how these free markets everyone loves are supposed to work?

Does it not cease being a free market when it is targeted by government action which changes the shape of the market ?

You can't argue with a man who thinks money is evil, smokes tabs & thinks Corbyn is a style icon

[DimPrawn]

£200k a year is not a lot of money I can assure you that. Tax and NI on that is £85K a year.
A take home of < 10K per month isn't even enough to take the family to Florida business class, let alone pay for hotels and Disney tickets.

The feckers already take a 100K off me and now they want to hit me more on my BTLS and Pension.

I can only afford to drink champagne at the airport now. It's a bloody travesty.

Indeed. Even bonuses of FTSE bosses are barely rising, just 3% up on last year.

Top FTSE bosses have seen an increase in their bonus | City & Business | Finance | Daily Express

These payouts, together with a 3 per cent rise in base salaries to £891,000, helped total remuneration packages jump by 6.8 per cent to an average of £4.28million, according to analysis by PWC of pay packages reported at 2015 annual general meetings.