Buy to let stamp duty surcharge and other related news

[DimPrawn]

This is unless you have access to a 35% deposit which only the wealthy will have access to. Those with over 15 properties will also avoid the stamp duty increases so you can see very clearly that BTL ownership is being taken out of the hands of the aspirational middle classes.

It's clear that none of the LibLabCon represent aspirational middle classes. Why the aspirational middle classes vote for any of them is beyond me....

[Zero Liability]

Jolly good show, after all we wouldn't want the rabble to forget their place in the natural order.

That's why they vote Tory, to be sternly reminded.

[PurpleGorilla]

Jolly good show, after all we wouldn't want the rabble to forget their place in the natural order.

That's why they vote Tory, to be sternly reminded.

What's that then.

0.1% the elite
1% the wealthy
2-100% the scum, the fodder, the fools

[jamesbrown]

BTL ownership is being taken out of the hands of the aspirational middle classes.

I'm about as free-market as anyone, but I don't really have a problem with this. In recent years, everyone and their dog has aspired to dabbling in BTL, and many of those people don't have a clue about what it takes to be a landlord. Couple that with the religion of home ownership in this country and the obvious supply/demand issues, I think it's reasonable to constrain BTL for the average punter who, let's face it, is simply looking to make a quick buck or views housing as some sort of pension.

[BrilloPad]

What's that then.

0.1% the elite
1% the wealthy
2-100% the scum, the fodder, the fools

So why do the 98% put up with it?

Apart from they being mollified with beer and football, and them being sheep....

[DimPrawn]

So why do the 98% put up with it?

Apart from they being mollified with beer and football, and them being sheep....

They is fick 'innit?

[d000hg]

The way things are going, you may get your wish.

As of Friday, Coventry Building Society are joining the ever growing list of lenders that are tightening their BTL lending policy.

Up until recently, most lenders required you to put down a 25% deposit when buying a BTL. The rent had to cover the mortgage by 125% at a nominal rate of 5%. On a loan of say £400,000, the rent had to be a minimum of £2083pcm.

Recently we have seen with many lenders that if you put down 25% deposit, the rent now needs to cover the mortgage by 125% at 5.5% - £2291pcm. This is unless you have access to a 35% deposit which only the wealthy will have access to. Those with over 15 properties will also avoid the stamp duty increases so you can see very clearly that BTL ownership is being taken out of the hands of the aspirational middle classes.

This crazy idea of promoting sensible lending is just intolerable.

What's that then.

0.1% the elite
1% the wealthy
2-100% the scum, the fodder, the fools

Everyone on CUK was just happy with that when they thought they were in the 1%. Now they realise why everyone else wasn't keen on the Tories previously.

[DimPrawn]

This crazy idea of promoting sensible lending is just intolerable.

Everyone on CUK was just happy with that when they thought they were in the 1%. Now they realise why everyone else wasn't keen on the Tories previously.

I thought I was in the 0.00001% Global Hyper Elite.

I'm gutted.

[BrilloPad]

I thought I was in the 0.00001% Global Hyper Elite.

I'm gutted.

While living in Swindon?

[DimPrawn]

While living in Swindon?

Well yes, that did make me wonder at one point.....