AVB Posted November 25, 2015 Report Share Posted November 25, 2015 Thoughts? I personally don't think he went far enough with the increase in stamp duty for BTL property. Quote Link to comment Share on other sites More sharing options...
LondonLuke Posted November 25, 2015 Report Share Posted November 25, 2015 Thoughts? I personally don't think he went far enough with the increase in stamp duty for BTL property. Conversely that is my biggest gripe with it - that he went too far! That said I am in a slightly unique situation. Quote Link to comment Share on other sites More sharing options...
ditchman Posted November 25, 2015 Report Share Posted November 25, 2015 well im relieved that you understood everything he was talking about..........................i have watched it twice and bits more than that....and my brain has rotted as a result.. Quote Link to comment Share on other sites More sharing options...
Twistedsanity Posted November 25, 2015 Report Share Posted November 25, 2015 i think he looks a lot like Mr Bean, sorry i dont have anything intelligent to add Quote Link to comment Share on other sites More sharing options...
polester Posted November 25, 2015 Report Share Posted November 25, 2015 I haven't seen it what's he said about BTL stamp Quote Link to comment Share on other sites More sharing options...
Paddy Galore! Posted November 25, 2015 Report Share Posted November 25, 2015 something that bugs me is he's quite willing to bump up council tax to fund the nhs by 2.5%, why did they bother cutting income tax in the first place? the guy's a snake, i don't like him one bit. Quote Link to comment Share on other sites More sharing options...
islandgun Posted November 25, 2015 Report Share Posted November 25, 2015 something that bugs me is he's quite willing to bump up council tax to fund the nhs by 2.5%, why did they bother cutting income tax in the first place? the guy's a snake, i don't like him one bit. Hes a politician whats to like Quote Link to comment Share on other sites More sharing options...
malkiserow Posted November 25, 2015 Report Share Posted November 25, 2015 His reference to Paul Nurse and implementing that report makes more sense than is good for a politician. Quote Link to comment Share on other sites More sharing options...
felly100 Posted November 25, 2015 Report Share Posted November 25, 2015 He wanted to scrap VAT on tampons but Brussels won't allow it! Give me strength. Quote Link to comment Share on other sites More sharing options...
panoma1 Posted November 25, 2015 Report Share Posted November 25, 2015 I quite liked his reference to Scottish Independence should the vote have gone yes Quote Link to comment Share on other sites More sharing options...
malkiserow Posted November 25, 2015 Report Share Posted November 25, 2015 He wanted to scrap VAT on tampons but Brussels won't allow it! Give me strength. Are you having a spot of PMT? Quote Link to comment Share on other sites More sharing options...
countryman Posted November 25, 2015 Report Share Posted November 25, 2015 All ways the same in this Country, if you have worked hard and build up something you will be nailed to the wall by the Government. Yes i do buy to let. All most had enough now may be its time to do what so many have done and leave this Country. Quote Link to comment Share on other sites More sharing options...
MartynGT4 Posted November 25, 2015 Report Share Posted November 25, 2015 All ways the same in this Country, if you have worked hard and build up something you will be nailed to the wall by the Government. Yes i do buy to let. All most had enough now may be its time to do what so many have done and leave this Country. Very true Quote Link to comment Share on other sites More sharing options...
Chris Bb Posted November 25, 2015 Report Share Posted November 25, 2015 All ways the same in this Country, if you have worked hard and build up something you will be nailed to the wall by the Government. Yes i do buy to let. All most had enough now may be its time to do what so many have done and leave this Country. And this is the man with his eyes on No 10? George, simple economics: You put up the price of BTL properties 3% + extras. Landlords put up their rents 5%, Not rocket science, is it? Quote Link to comment Share on other sites More sharing options...
AVB Posted November 25, 2015 Author Report Share Posted November 25, 2015 And this is the man with his eyes on No 10? George, simple economics: You put up the price of BTL properties 3% + extras. Landlords put up their rents 5%, Not rocket science, is it? I don't think so. It will have some impact on demand. Perhaps not much but some. That will bring prices down and open up the market for genuine first time buyers. For your argument to be true it would mean landlords could defy market forces and demand any price they wanted. Quote Link to comment Share on other sites More sharing options...
Chris Bb Posted November 25, 2015 Report Share Posted November 25, 2015 I don't think so. It will have some impact on demand. Perhaps not much but some. That will bring prices down and open up the market for genuine first time buyers. For your argument to be true it would mean landlords could defy market forces and demand any price they wanted. I beg to differ, I think the impact will be minimal and current owners will, whenever possible, sit on properties until the right buyer comes along. Within reason, say 5% and depending on area, rents do go up by this amount annually already. Quote Link to comment Share on other sites More sharing options...
norfolk dumpling Posted November 26, 2015 Report Share Posted November 26, 2015 Had a quick look at the headlines of his A/Statement and can't understand why nurses will now have to take out student loans - thought we were short of nurses? I realise they can/will earn more than most university students but this will stop many youngsters from considering this as a career. Very complicated package. Unfortunately Norwich Northern Distributor Road gets funds and will start this year - a few years of chaos in our part of the world and a huge chunk of countryside to go under cement and tarmac. And one or two extremely wealthy landowners to become even more wealthy as their land is compulsorily purchased. That's life I suppose. Quote Link to comment Share on other sites More sharing options...
LondonLuke Posted November 26, 2015 Report Share Posted November 26, 2015 And this is the man with his eyes on No 10? George, simple economics: You put up the price of BTL properties 3% + extras. Landlords put up their rents 5%, Not rocket science, is it? If you look at real life numbers on this then even a landlord putting up rents by 5% a month/year it would be an age until the extra 3% SDLT is covered. I think this coupled with the changes in BTL taxation could have a much more negative impact on the PRS than the intended positive impact for the FTB market Quote Link to comment Share on other sites More sharing options...
STOTTO Posted November 26, 2015 Report Share Posted November 26, 2015 i think he looks a lot like Mr Bean, sorry i dont have anything intelligent to add How strange, I thought that you had captured the very essence of it! Quote Link to comment Share on other sites More sharing options...
malkiserow Posted November 26, 2015 Report Share Posted November 26, 2015 I just noticed £1billion has been axed on Carbon Capture and Sequestration Quote Link to comment Share on other sites More sharing options...
rjimmer Posted November 26, 2015 Report Share Posted November 26, 2015 I beg to differ, I think the impact will be minimal and current owners will, whenever possible, sit on properties until the right buyer comes along. Within reason, say 5% and depending on area, rents do go up by this amount annually already. Mine haven't gone up in 5 years. Quote Link to comment Share on other sites More sharing options...
Vince Green Posted November 26, 2015 Report Share Posted November 26, 2015 Stamp duty is a one off payment when you buy a house and on a typical house is around £1500 so 3% is not going to break the bank is it? The thing I want to know is how they will know which houses to apply it to. Except if its being bought with a BTL mortgage and most BTL houses are not, they are either existing residences being turned over to letting or they are bought for cash. Around this part of London a huge number of the BTLs are owned by foreign non doms who dont pay tax anyway. They would be better attacking the non dom fiddle to be honest because that is rife Quote Link to comment Share on other sites More sharing options...
Vince Green Posted November 26, 2015 Report Share Posted November 26, 2015 something that bugs me is he's quite willing to bump up council tax to fund the nhs by 2.5%, why did they bother cutting income tax in the first place? the guy's a snake, i don't like him one bit. Most of the people who are overloading the NHS do not pay Council Tax anyway for one reason or another. Quote Link to comment Share on other sites More sharing options...
malkiserow Posted November 26, 2015 Report Share Posted November 26, 2015 Stamp duty is a one off payment when you buy a house and on a typical house is around £1500 so 3% is not going to break the bank is it? The thing I want to know is how they will know which houses to apply it to. Except if its being bought with a BTL mortgage and most BTL houses are not, they are either existing residences being turned over to letting or they are bought for cash. Around this part of London a huge number of the BTLs are owned by foreign non doms who dont pay tax anyway. They would be better attacking the non dom fiddle to be honest because that is rife your solicitors for the purchase will know (most of the time) and they are obliged to inform the authorities and in most cases are billing you for the appropriate cost before completion. Quote Link to comment Share on other sites More sharing options...
LondonLuke Posted November 26, 2015 Report Share Posted November 26, 2015 (edited) Stamp duty is a one off payment when you buy a house and on a typical house is around £1500 so 3% is not going to break the bank is it? The thing I want to know is how they will know which houses to apply it to. Except if its being bought with a BTL mortgage and most BTL houses are not, they are either existing residences being turned over to letting or they are bought for cash. Around this part of London a huge number of the BTLs are owned by foreign non doms who dont pay tax anyway. They would be better attacking the non dom fiddle to be honest because that is rife I think you would be best to look at the figures. I assume are assuming the stamp duty going up 3% is of the £1500? So £1500+3%? The actual case is 3% on the banding so where it was 2% (for example) of purchase price it is now 5% of purchase price. It's a much bigger difference than you are alluding to. If the current stamp duty is £1500 on a BTL it is now £7500. For me a £6000 increase in initial capital spend on a £200,000 purchase is worth consideration. Edited November 26, 2015 by LondonLuke Quote Link to comment Share on other sites More sharing options...
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