Own your property outright? CPIH should worry you

[OwlHoot]

why do you think you will only pay deemed rent if the mortgage has been paid off?

"Fairness", or really to avoid upsetting too many voters.

[OwlHoot]

Over my cold dead body

Me too, but property is a soft target - You can't very easily hide it!

you cannot penalise people for buying something.

Like with 20% VAT for example?

[PurpleGorilla]

Own your property outright? CPIH should worry you

Over my cold dead body

The reason many people work hard and forgo luxuries to pay their mortgage off early is so that they can reduce any overheads they have for when they retire...

Also how is this going to work for those people who paid off their mortgage but have saved nothing else and so live off the state pension.

For anything other than a primary residence then yes it has mileage but you cannot penalise people for buying something.

Some would argue working hard to pay thruppence ha'penny was a gift not afforded to today's young;

https://www.theguardian.com/money/20...operty?0p19G=c

[BrilloPad]

For anything other than a primary residence then yes it has mileage but you cannot penalise people for buying something.

When there is a finite supply you should try to make sure there is some fairness.

Imagine if the food supply was cornered. Life would get unpleasant quickly.

One day housing unpleasantness will arise. But probably not in my lifetime.

[vetran]

Given how insane council tax rates are due to being 30 years old (one I'm looking at is Council Tax F - on sale for £300,000) something needs to be done.

Not sure rates is the solution for this is what is being talked about...

yep its ridiculous ours went down when we moved (our new house is 50% bigger and in a cul de sac not a main road).

Funny thing is they actually charge more to live in the Britwell (Slough's sink estate) than in my village.

[original PM]

Some would argue working hard to pay thruppence ha'penny was a gift not afforded to today's young;

https://www.theguardian.com/money/20...operty?0p19G=c

Yes but if you take out a mortgage at 25 over 25 years the assumption is it will be paid off by the time you are 50 - unless you decide to keep remortgaging.

And that is the same now as it was then.

[OwlHoot]

It'll be worth listening to the Chancellor's statement on Wednesday to see if there is any hint of this deemed rent.

[ChimpMaster]

Sounds like a very Socialist policy. I don't think it'll happen - not in such a form anyway because it discourages prudence, unless of course the government want exactly that. And then what's to stop outright owners from remortgaging and spending/stashing/investing the cash then.

An 'empty house' tax is certainly far more sensible and socially acceptable.

[vetran]

Sounds like a very Socialist policy. I don't think it'll happen - not in such a form anyway because it discourages prudence, unless of course the government want exactly that. And then what's to stop outright owners from remortgaging and spending/stashing/investing the cash then.

An 'empty house' tax is certainly far more sensible and socially acceptable.

and a rebanding of council tax.

[OwlHoot]

And then what's to stop outright owners from remortgaging and spending/stashing/investing the cash then.

Good point, unless this supposed tax was pitched less than the interest payable on a mortgage, or remortgaging itself is taxed.