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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask - private landlords and people on £50-80k - are you worried?

80 replies

roarityroar · 09/06/2017 10:11

Just that really.

Shock election result. I have a couple of BtLs and earn within that bracket so not particularly high but live in London. I have a ball of tension in my stomach at the thought of Corbyn and all the uncertainty of a hung parliament.

Anyone else scared? Or is the whole of MN rejoicing?

OP posts:
theresamustgo · 09/06/2017 10:14

i am the same as you (£90 000) and I am ecstatic. Why wouldn't I be?? I use schools, the NHS, don't want my tenants to be shafted.....

Pinkheart5919 · 09/06/2017 10:15

No not at all. In fact I'd rather Jeremy over the smug Tory women
Any day and I'm glad it's a hung parliament she deserved that for being so smug

We have a few properties an earn over that

witsender · 09/06/2017 10:15

We don't, but many of our friends do. They are thrilled/cautiously excited. Do you not use any public services?

SovietKitsch · 09/06/2017 10:16

I fall into this category, and I would only be happier if Labour had a majority - our schools and hospitals and vulnerable people have got a reprieve. Let's hope the Tories back off from the ideological austerity a bit now...

WinifredAtwellsOtherPiano · 09/06/2017 10:17

For better or worse Corbyn will not be in any position to make sweeping tax rises (and the manifesto didn't target the 50-80s anyway).

Renters' increased rights might be an idea whose time has come though - and Osborne already started the process of making BTL less financially rewarding. My gut instinct is that whoever wins some sort of legislation to protect tenants is inevitable.

MrsJoyOdell · 09/06/2017 10:17

Diddums.

Original poster
roarityroar · 09/06/2017 10:17

I'm genuinely scared by the uncertainty. I'm scared interest rates will rise affecting my mortgages. I'm afraid of increased tenants' rights (mine already have long term tenancies without regular increases,but I've had bad ones that were hard enough to remove). I'm more worried about Brexit now.

Feeling quite sick today.

OP posts:
Underthemoonlight · 09/06/2017 10:18

What about the poor those who relie on food banks who earn minimum wage or the disabled should they continue to have cuts so you can stay wealthy? We leave in a democracy and the people voted for who they believed with the best party.

Original poster
roarityroar · 09/06/2017 10:20

I don't use public services much, no. Private healthcare through work and private schools.

It's the uncertainty and the potential for tax rises and the land tax.

OP posts:
Noodledoodledoo · 09/06/2017 10:22

So sell your buy to lets. Sorry but there is a huge need for tenants rights as some are treated abominably.

I am more concerned about the NHS, Schools, police than a rise in interest rates and yes it will affect me but the other stuff has the potential to cost individuals a lot more money than a rise in interest rates.

Legma37 · 09/06/2017 10:22

Oh get over yourself MrsJoyOdell. I imagine you are one of those people that expect those in such situations to pay more, yet still want to be able berate them for being in the position that allows them too.

Junebugjr · 09/06/2017 10:23

We're on nearly 6 figures, and have lots of benefits with DH job.
However I work in Social care and lots of my projects are EU funded, and I've seen the effects of the cuts.
Happy to see Labour become a credible opposition and I think Corbyn could win if we have to have another election, but with a more robust media strategy and party support.

Myself and DH voted with public services in mind, and would take higher tax on the chin.
We grew up in poverty, and I couldn't bear to vote for more of the same for other people.

chumpchange · 09/06/2017 10:23

My gut instinct is that whoever wins some sort of legislation to protect tenants is inevitable.

I think this is probably true, in particular because we are becoming more aware of the impact the current situation is having on many children's education.

MrsOverTheRoad · 09/06/2017 10:24

You lost me at "I'm scared for increased tenants rights"

Underthemoonlight · 09/06/2017 10:25

Aw you poor thing how will you survive. The rich have been getting richer and the poorer have been getting poorer. Some people aren't able to even get on the property market and have to rent and get treated appaulling in the process.

LonnyVonnyWilsonFrickett · 09/06/2017 10:25

I don't think there will be sweeping tax rises. I think being a BtL landlord will become more expensive and to be honest I think that's fair. I struggle to say this in a way that doesn't sound rude, I genuinely don't mean it to be - but if your business model is based on mortgage interest rates staying at a record low, then that's a bad model.

TheHouseOfIllRepute · 09/06/2017 10:26

My heart is bleeding for you Hmm
You are in the fortunate position to have choice. Many don't

TabascoToastie · 09/06/2017 10:29

I'm a landlord and I'm over the moon (though would have preferred a Labour win obv).

IDontBowlOnShabbos · 09/06/2017 10:30

People are dying/living in absolute poverty under the Tories. Homelessness has exploded in my area.

Do you seriously think anyone cares that you might not be able to chuck people out of their home easily now? Is this a joke? Or a way to make Tories look completely sociopathic/uncaring?

Justanothernameonthepage · 09/06/2017 10:33

Even private healthcare relies on the NHS for everything from equipment rental to emergency care in the event of the unexpected. If the privatisation of the NHS goes ahead, your insurance premiums would go up. Not to mention private healthcare tends to exclude a lot of the more expensive treatments.

sharontargaryen · 09/06/2017 10:35

Renters are going to get a better deal whether with Corbyn or the Tories. Even the Tories have seen what is over the horizon and have introduced lots of anti-landlord policies such as taxing second homes/buy-to-let and making buy-to-leters pay tax on their turnover (introduced by Osborne). They are also going to ban letting agents fees and Corbyn would introduce rent caps and build lots of social housing. The days for landlords, especially buy-to-leters, are numbered. Young people don't want to subsidise your mortgage/pension anymore living in cramped dirty homes. The youth vote will just ensure that both parties bring in policies to make housing cheaper and fairer. About bloody time!

gotthemoononastick · 09/06/2017 10:36

Many well-heeled seniors of my aquaintance are so bitter that they are employing lawyers to help them claim every benefit they can possibly get their hands on.

These are people who have never claimed as they did not think it right,(TV ,buspasses, winter fuel perscriptions.)

ShatnersBassoon · 09/06/2017 10:38

I have nothing to worry about. Worst case scenario, I'm going to increase my wealth at a slower rate. That seems like a decent pay-off for improved public services and a softer arse-kicking from the EU.

Moanyoldcow · 09/06/2017 10:45

You don't use public services? No roads? Rubbish isn't collected? Don't use The Tube? Everyone uses public services. And if you use them less because you've bought your way out, and don't care about them for others less well off, you're quite the solipsist, aren't you?

If you found your belt tightened you have the option of selling your properties, giving up health insurance and putting your children in state schools - you aren't ending up at a food bank, are you?

FYI - I work at an independent school and DH and I are about £80k pa household. Both Labour voters and JC supporters.

BarbarianMum · 09/06/2017 11:14

Im a landlord . And no I'm not worried at all. As a conscientious landlord I'd welcome the curbing of unethical practices in the industry - would make for a much more even playing field. And I'm happy for my tenants to be properly protected by the law too, why wouldn't I be? But then I've never seen buy-to-let as a get rich quick scheme, or thought it would allow me to sit on my arse doing nowt whilst the money rolls in.