Reply to: BTL DOOM

[AtW]

Yes, but as some of us landlords are also sitting on shed loads of cash, as the interest rates shoot up, economy collapses and loads of negative equity and repossessions kick in, I'll just pay in cash, but at a third of the value.

My hero!!!

[AtW]

No, it was driven by Labour policy.

Why did it increase by over 1m under Labour and not previously the Tories?

Because Labour were in power for a generation and during that time house prices experienced explosive growth, same tulip would have happened under Tories also who'd use BTL as means of maintaining demand for housing at the time when normal buyers could not afford it.

[BrilloPad]

You will pay in cash at true value. Then watch as prices treble. As without immigration and rising house prices the government is stuffed.

Oh. I forgot. That assumes you still have cash. I thought you used up all your cash on those sledges.

[BrilloPad]

Yes, but as some of us landlords are also sitting on shed loads of cash, as the interest rates shoot up, economy collapses and loads of negative equity and repossessions kick in, I'll just pay in cash, but at a third of the value.

You will pay in cash at true value. Then watch as prices treble. As without immigration and rising house prices the government is stuffed.

[MarillionFan]

Yup, will to be interesting if we see interest rates go up sharply if we get the shock Brexit. Would stuff a lot of BTLers up. And a lot of people who have over-borrowed on their main residences. Could be carnage.

Yes, but as some of us landlords are also sitting on shed loads of cash, as the interest rates shoot up, economy collapses and loads of negative equity and repossessions kick in, I'll just pay in cash, but at a third of the value.

[GB9]

That's rubbish really, if there wasn't a relief for interest then people would use Ltds, mortgage costs would be a bit higher but with much bigger market risks would be the same for banks.

This so called Conservative Govt isn't creating new houses, they are just forcing redistribution, that's no different from scum Labour policies only Tories increased taxes on top of Labours.

No, it was driven by Labour policy.

Why did it increase by over 1m under Labour and not previously the Tories?

[BrilloPad]

Buy To Let - I have no problem with.

Borrow To Let - No, the cheap easy central bank money is meant for productive businesses is not for pushing up the price of homes and making property spekulators rich and renters poor. Sorry, it's distorting the market it must be stopped completely.

I disagree with this post strongly. It implies that being a landlord is only for the rich.

Buy and Borrow to let distort the market. Or at least where there are more immigrants coming to the UK than new houses being built.

Though the bigger distortion is overseas money invested in the UK, especially London.

The rich, individuals and large companies, sometimes have a very unlevel playing field.

[AtW]

Over 1m BTL mortgages taken out under 13 years of Labour government, all subsidised by the tax payer.

That's rubbish really, if there wasn't a relief for interest then people would use Ltds, mortgage costs would be a bit higher but with much bigger market risks would be the same for banks.

This so called Conservative Govt isn't creating new houses, they are just forcing redistribution, that's no different from scum Labour policies only Tories increased taxes on top of Labours.

[AtW]

This article is so devoid of anything useful, that it could have been written by an 8 year old - probably like most of the Tories' manifesto on housing policy.

They got the gist right though.

[jamesbrown]

Next stop, BTL crashville!

Not until the BoE has had a chance to meddle They're intensely relaxed about property speculation, right up until they aren't anymore.

[DimPrawn]

Next stop, BTL crashville!

Hope it takes all the lenders with them. Bwankers meet job centre, job centre, meet bwanker.

[GB9]

Over 1m BTL mortgages taken out under 13 years of Labour government, all subsidised by the tax payer.

Landlords have benefitted from a massive boom in property prices in recent years, mostly on borrowed money. You would struggle to find many other investments where you would be able to put 5% or 10% deposit down and borrow the rest.

I have no problem with BTL itself, indeed I may even have one myself in the near future. However, it gets unfair tax breaks as an investment, tax breaks over home buyers, and it has driven the price of houses out of the reach of many. Contrary to what the landlords may think, they haven't done society a great favour in recent years, although to be fair, they were encouraged by the Labour government who believed in rental rather than ownership.

Tory policy has always been home ownership. I can't see levelling the playing field a bit as a problem.

[ChimpMaster]

Landlords should be squealing under George Osbornes crackdown, Treasury minister suggests

This article is so devoid of anything useful, that it could have been written by an 8 year old - probably like most of the Tories' manifesto on housing policy.

[ChimpMaster]

Yup, will to be interesting if we see interest rates go up sharply if we get the shock Brexit. Would stuff a lot of BTLers up. And a lot of people who have over-borrowed on their main residences. Could be carnage.

Brexit is expected to lead UK into recession and hence will result in interest rates coming down.

Though of course, no one really knows what in or out will actually result in

[administrator]

If(and we stand more chance of seeing an assguru post not full of bile) there is a BrExit the pound would collapse. Interest rates would not rise. There would be a huge UK economic boom.

Actually that is a lie. No-one has any idea of the economic impact of stay/leave.

I don't know about the chances of Brexit, all the polls are uneven and not a reflection of turnout and what slips there may be in the next few weeks. A few wrong turns could see either side lose credibility and attract the fence sitters like me.

I think that's the nub of it. No-one knows exactly what will happen so all the hoo-hah to date is speculation from vested interests in one outcome or the other.

The chances are that whatever happens some people will benefit from it and some will be battered by it. That's life.