buy to let

badcompany · 28 May 2014 at 19:37

Should buy to let be taxed to the hilt?
It's probably the main reason we have housing crisis and it's just greed homes are for living in not making money on.

I have own house pretty paid for and could go down btl road but I think it's morally wrong.

Outlawed or taxed?

LionOfJudah · 28 May 2014 at 19:44

shall we ban making money/businesses at the same time also?

badcompany · 28 May 2014 at 19:46

It is hard for young people to buy a house btl is fueling stupid prices?

Tax the money they make @90%

I don't care if my house is worth 250k or 550k it's irrelevant.

Dunks · 28 May 2014 at 19:46

Morally wrong to rent out a house? lolwut

I'd be homeless if everyone thought that.

mattyg · 28 May 2014 at 19:48

NO.

/thread

Maccapacca · 28 May 2014 at 19:48

My tenants are all Local Authority, who will house them?

badcompany · 28 May 2014 at 19:50

Dunks said:
Morally wrong to rent out a house? lolwut

I'd be homeless if everyone thought that.

Why do people need more than 1 house? Unless you have a job that requires it?

Jokester · 28 May 2014 at 19:52

badcompany said:
Why do people need more than 1 house? Unless you have a job that requires it?

To provide an income, whilst providing a service to other people perhaps?

mattyg · 28 May 2014 at 19:52

Its a business. Some people choose NOT to buy and would rather rent.

Who will they rent from If we can't rent out our houses.

That'll push house prices up the most. Because if people want a roof over they're heads they will HAVE to buy.

~Divine~Wind~ · 28 May 2014 at 19:53

Ask the council? I think they own m,ore than one house.
And I'm pretty sure that those renting houses out do actually pay tax on the income

What housing crisis?
You mean the housing issues caused because local councils aren't building any homes?
Or the one where local councils are selling the land to developers as they cba to build?

Then again...
where does the council get the money from to build homes?

This seems a rather random post, whats the back story?
My mater owns a house, doesn't rent it out as he's not gotten round to it ad doesn't live there either! :eek:

mattyg · 28 May 2014 at 19:55

I currently have several houses.

I've bought them at rock bottom prices because they need a lot of work to bring them up to scratch. They are 1st time buyer homes which first time buyers can't afford to fix up or don't have the know how.

I'm helping first time buyers buy they're first home because they can fund it wholly with a mortgage.

scorza · 28 May 2014 at 19:56

Something needs to be done, many people I know have sold their home to BTLers, homes that could otherwise have gone to people buying somewhere to live. It doesn't take a genius to work out that increasing demand for homes pushes prices up which in turn will push rents up.

Not sure what the answer is though, as others have pointed out renting does provide a service.

Showboat · 28 May 2014 at 19:56

maccapacca said:
My tenants are all Local Authority, who will house them?

Same here... I house 3 mothers/kids on dhss, the councils don't have the housing for them, so it ends up rightly or wrongly going to the private sector to sort out....

deusexlumina · 28 May 2014 at 19:57

Something needs to be done about it. I agree there's nothing wrong with making money, but its making getting on the property ladder increasingly difficult for people of my age.

Maccapacca · 28 May 2014 at 19:59

I fancy boys said:
Something needs to be done about it. I agree there's nothing wrong with making money, but its making getting on the property ladder increasingly difficult for people of my age.

Save more money then, don't expect to buy one with a deposit of £5k, move away from your parents nice area they have worked up to, buy somewhere that needs some work, accept you can't buy a 3 bed detached house for your first house.

Storm3y · 28 May 2014 at 20:02

badcompany said:
Why do people need more than 1 house? Unless you have a job that requires it?

To live in at weekends and holidays?

alx · 28 May 2014 at 20:03

badcompany said:
Why do people need more than 1 house? Unless you have a job that requires it?

What happens if you move abroad for work but want to keep somewhere for when you come back?

Also without buy to let who would people rent off of?

EDIT: In reality the UK needs to build far more homes then it has, the root cause really is lack of housing which has the knock on effect of high prices, high rents, first time buyers struggling to get on the market, BTL buying up housing because of the returns etc

~Divine~Wind~ · 28 May 2014 at 20:04

I'm with macca on this one, I was lucky and put a lowball offer in, a little haggling and I got the house for a fair chunk less than they were asking

nice house, nice area = big money

as above tho pointless kicking off if you aint got the deposit ready, we had the best part of 25k dissapear all in one go

lol

Move back to parents, save up, cut back get yer deposit together

Radiation · 28 May 2014 at 20:05

If i want hundreds of homes to rent out to people who can't afford their own why shouldn't i be allowed to?

If i want a million room mansion and a hundred miles of land just for myself why shouldn't i be allowed to?

Showboat · 28 May 2014 at 20:06

I fancy boys said:
Something needs to be done about it. I agree there's nothing wrong with making money, but its making getting on the property ladder increasingly difficult for people of my age.

Move to an area where you can buy a house for £40k-£60k, live within your means.

buy to let

Tea Drinker

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Tea Drinker

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