Immigration is driving up house prices

[Old Hack]

It's already happened as Osborne offered Govt guarantees to reduce deposit size required to buy house - taxpayers are on the hook for any shortfall.

Sorry, I was alluding to it being much worse soon, as in the States.

We'll all be underwriting our own mortgages, which is surreal

[GB9]

House prices here rose due to people getting tax breaks on BTL properties and buying second homes. Strange that this happened under Labour when you may have thought it was more of a Tory thing to do.

When the last labour government came to power there were only 28,000 BTL mortgages in force. When they left there were over 1,000,000.

[DimPrawn]

House prices here rose due to people getting tax breaks on BTL properties and buying second homes. Strange that this happened under Labour when you may have thought it was more of a Tory thing to do.

When the last labour government came to power there were only 28,000 BTL mortgages in force. When they left there were over 1,000,000.

I think my (ex) sister in-law has most of them. She's early 30's and has well over £1m in mortgage debt on 10 btl properties. The rent is way more than the mortgage payment, so it effectively pays her own mortgage every month.

And she's one BTLer......

[AtW]

I think my (ex) sister in-law has most of them. She's early 30's and has well over £1m in mortgage debt on 10 btl properties. The rent is way more than the mortgage payment, so it effectively pays her own mortgage every month.

And she's one BTLer......

Should have married her instead, eh?

[DimPrawn]

Should have married her instead, eh?

True dat!

[SueEllen]

House prices here rose due to people getting tax breaks on BTL properties and buying second homes. Strange that this happened under Labour when you may have thought it was more of a Tory thing to do.

When the last labour government came to power there were only 28,000 BTL mortgages in force. When they left there were over 1,000,000.

BTL properties are a business so fair enough.

Second homes aren't.

While there is an issue with communities have streets of housing with short-term tenants at least the tenants will pay for and use the local amenities 100% of the time while second home owners don't.

And forcing developers to actually develop on the land they bank by taxing the land regardless of who owns it, will help decrease house prices.