The Tories have 'killed buy-to-let for the middle-classes'

[PurpleGorilla]

Behave! That'll be the global economy that went into meltdown, would it?

And how long have the tories with their libdem fiends been in power? Osborne said the deficit would be wiped out by the end of the last Parliament yet, here we are still with a massive PSBR.

Wake up you gimp!

"With our fiscal prudence... An end to boom and bust"

What price did we get when he sold all our gold?

The guy was an idiot!

[smalldog]

The banks haven't proven too great at deciding who to give mortgages to. They gave them to everybody regardless if they could pay them back.

MF: I think you might be stuck in a different decade

You living in some dark ages or something? Companies and individuals leverage other peoples money to make more, its called capitalism. Large corporates borrow vast sums to invest and build their company by corporate and debt financing, no different to individuals. You name pretty much any blue chip co. or high wealth individual and at some point they will have borrowed someone elses money to invest in something. They arent all sitting on massive piles of cash! Good grief....

If you dont like the system I hear North Korea is nice this time of year.

[GB9]

What makes me laugh is small time Btl owners claiming it is a business.

Whilst I wouldn't ban it I struggle to see why investors think try should get any tax perks on buying a house to rent to other people. If you used all your own money you would get no interest relief so why should you get any when you borrow.

And historically, Btl has NOT been a Tory policy, but very Labour. When the Tories left power in 97 there were just over 28,000 Btl mortgages. When Labour left in 2010 there were over 1m. Basically one of Brown and Blair 's giveaways to buy the middle class vote.

[northernladuk]

What makes me laugh is small time Btl owners claiming it is a business.

Whilst I wouldn't ban it I struggle to see why investors think try should get any tax perks on buying a house to rent to other people. If you used all your own money you would get no interest relief so why should you get any when you borrow.

And historically, Btl has NOT been a Tory policy, but very Labour. When the Tories left power in 97 there were just over 28,000 Btl mortgages. When Labour left in 2010 there were over 1m. Basically one of Brown and Blair 's giveaways to buy the middle class vote.

Says the contractor.

[VectraMan]

You living in some dark ages or something? Companies and individuals leverage other peoples money to make more, its called capitalism. Large corporates borrow vast sums to invest and build their company by corporate and debt financing, no different to individuals. You name pretty much any blue chip co. or high wealth individual and at some point they will have borrowed someone elses money to invest in something. They arent all sitting on massive piles of cash! Good grief....

If you dont like the system I hear North Korea is nice this time of year.

It's well established that governments have to interfere in capitalism when it starts to be a negative thing; monopolies and mergers etc. And record house prices and shortages are doing real harm to many and widening the gap between the rich and poor, which everybody agrees is a negative thing. Forcing BTL'ers to compete on at least even terms with buy-to-live'ers is something that should have happened donkeys years ago, and a small tax increase is pretty light compared to the sort of draconian measures they could have brought in.

[BlueSharp]

Says the contractor.

I'm quite enjoying not been the biggest none tax paying outcast at the moment. Certainly when discussing BTL with people who own BTL who saw my contractor business as nothing more than an unfair tax dodge.

If the BTLetters's don't like it they can incorporate and continue claiming the full tax relief but be subject to corporation tax like a real business.

[d000hg]

You living in some dark ages or something? Companies and individuals leverage other peoples money to make more, its called capitalism. Large corporates borrow vast sums to invest and build their company by corporate and debt financing, no different to individuals. You name pretty much any blue chip co. or high wealth individual and at some point they will have borrowed someone elses money to invest in something. They arent all sitting on massive piles of cash! Good grief....

If you dont like the system I hear North Korea is nice this time of year.

And when you look at the world economy you think this is a great idea? Companies certainly have not always relied on vast borrowing. Capitalism is absolutely not reliant on credit or about making money using someone else's. That's simply one way to make money, not a definition of what capitalism IS.

[smalldog]

And when you look at the world economy you think this is a great idea? Companies certainly have not always relied on vast borrowing. Capitalism is absolutely not reliant on credit or about making money using someone else's. That's simply one way to make money, not a definition of what capitalism IS.

Capitalism, i.e. Freedom is about making choices, one of which is to borrow money to invest. If that was removed from the equation the worlds banks would stop overnight, the world of finance is built on leverage and credit, good idea or not.

BTL is no different, most people borrow and pay the price for it in terms of interest paid, whats wrong with that. If the government wanted to stop BTL they could ban BTL mortgage products overnight, but they dont really want to stop it. They just want to capitlise from it.

[d000hg]

Capitalism, i.e. Freedom is about making choices, one of which is to borrow money to invest. If that was removed from the equation the worlds banks would stop overnight, the world of finance is built on leverage and credit, good idea or not.

So capitalism doesn't rely on leveraging other peoples' money. Equating freedom with capitalism is just daft BTW.

The world of finance might be built on credit, but the world of finance is totally screwed up - it certainly doesn't work like normal business/capitalism.

[PurpleGorilla]

The global debt binge will end in complete disaster.

Enjoy it while the ride lasts.