Budget and BTL

[BrilloPad]

Sorry it's no ones "right" to "own" a home. There are plenty of homes out there to rent. Tell your friends children to rent somewhere. That's what most of Europe does.

Everyone has the right to buy a place, it is not a right to afford a place. If they are not wealthy enough to buy a place, rent a place.

FFS. Socialists. Kill 'em.

Whilst I agree with alot of what you say, it was Maggie who tried to give people the opportunity to own their home. Thus I think you are the socialist.

IMO everyone should be able to aspire to own a home if they work hard. If you do got give people hope you will cause other knock on effects in society.

Of course in Germany alot of executives in their forties live at home as still trying to save the 40%(or is it 25%?) deposit. Whilst this is excessive, mortgagues of less than 10% deposit should be illegal - and all BTL mortgagues illegal.

[bobhope]

There was an article in Moneyweek last year urging BTLetters to sell up then, rather than waiting for the 18% CGT change in April. Could be interesting when everyone heads for the exits at the same time.

[BrilloPad]

There was an article in Moneyweek last year urging BTLetters to sell up then, rather than waiting for the 18% CGT change in April. Could be interesting when everyone heads for the exits at the same time.

Pricking bubbles always provides for interesting times. Any way to deflate is gently?

[tim123]

- and all BTL mortgagues illegal.

How does making BTL mortgages illegal help anybody?

There will still be a need for people to rent properties and if we don't allow the 'little people' to supply that demand, renting property will return back to having to choose between a scummy bed-sit or renting from a Rackman.

IMHO it is hugely advantageous that those days are gone.

tim

[DimPrawn]

How does making BTL mortgages illegal help anybody?

There will still be a need for people to rent properties and if we don't allow the 'little people' to supply that demand, renting property will return back to having to choose between a scummy bed-sit or renting from a Rackman.

IMHO it is hugely advantageous that those days are gone.

tim

Perhaps only big co's that donate to New Lie should be allowed to offer rented accommodation? For everyone else make it illegal. Now there's an idea....

[bogeyman]

mortgagues of less than 10% deposit should be illegal - and all BTL mortgagues illegal.

Ferkin hell!

I don't even know where to start with that one.

Are you some sort of statist control freak Brillo?

Lenders should be allowed to lend on whatever terms they like. Similarly, borrowers should be able to borrow on whatever terms they feel are advantageous to them.

Caveat emptor!

If lenders and borrowers too stupid to make these arrangements then you feel the government should make it illegal?

[Francko]

If lenders and borrowers too stupid to make these arrangements then you feel the government should make it illegal?

Being stupid should be illegal!!!

[bogeyman]

Being stupid should be illegal!!!

Not under this government. Where would they get their voters from?

[Marina]

IMO everyone should be able to aspire to own a home if they work hard. If you do got give people hope you will cause other knock on effects in society.

I'm sure a lot of this binge drinking and weekend drunken capers in town centres is partly young people realizing deep down they have little chance of ever owning their own property, and that contributes towards lowered aspirations and an "enjoy life for the moment" mentality.

Labour have betrayed a whole young generation by letting so many immigrants settle here over the last ten years, which is the main cause of property price inflation. But sadly most young people are too dumb and complacent to really understand the implications, yet ...

[Moscow Mule]

Removing income tax relief on BTL mortgage interest payments for individuals would make BTL inviable for a large proportion of BTLers who jumped on the bandwagon recently.

I would suggest that owners of a single BTL would be more likely to get rid of it, hence solving the lack of sales stock in the country.

Proper BTLers with more than a couple of properties would be encouraged to incorporate to gain the interest relief again, and turn a healthy (but not excessive) profit.