FSA to cap mortgage borrowing

[BrilloPad]

Possibly.....but that would need to be handled very carefully, otherwise the rental sector would suffer a collapse too because people would just try to pass the tax onto tenants.

It would certainly be a nightmare to implement. Maybe first step is disallowing mortgage tax relief on rental income?

[PM-Junkie]

It would certainly be a nightmare to implement. Maybe first step is disallowing mortgage tax relief on rental income?

I do like the idea...but as you say, a nightmare to implement. Second homes are one of the big contributors to house price inflation, and a huge factor in village life being eroded away.

[sasguru]

I made an offer on a house at the weekend, less than 10% below asking price, cash purchase. Vendors came back 5 minutes later saying they will only accept offers over the asking price.

To buy the house I was looking at would require a salary of over £250K pa. under the new rules.

And then you woke up and had a cup of tea. Nice.

[bobhope]

Where can you sign up for a job like that where you get to state the obvious?

[crimdon]

I do like the idea...but as you say, a nightmare to implement. Second homes are one of the big contributors to house price inflation, and a huge factor in village life being eroded away.

Leading to direct job losses as local shops and pubs close down due to lack of customers.

[Doggy Styles]

There will be pain for those who thought the temporarily inflated price of their home made them rich.

And especially for those who extended their borrowings on the back of it.

But they didn't have to.

[Cyberman]

And as it is bound to be posted

Stable door.

Indeed. I was suggesting measures such as this over two years ago. About time !!!

[Platypus]

Conspiracy theory:

They announce this, causing a rush of house buying as people try to beat the deadline for the introduction of the new rules. Sometime later, the new rules are quietly dropped. And because buying activity has picked up, the government can announce that the market has recovered.

Nice!

[Platypus]

Indeed. I was suggesting measures such as this over two years ago. About time !!!

If only the government had listened to your recommendations, none of this would have happened

[oracleslave]

Indeed. I was suggesting measures such as this over two years ago. About time !!!

If you'rer such a visionary, economic whiz how come you still chase 40k permie jobs and didn't sell your house 2 years ago