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

[roarityroar]

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?

Btl hasn't made sense with a mortgage outside london for years, plenty of warning. The low epc properties will be illegal to rent from next year , again plenty of warning.

Like it or not , with a hugely increased population and not enough housing, governments of all colours rely on evil bastard private landlords. Until one of those factors changes, that is.

Why do you think councils refuse accommodation until bailiffs? They don't have any!

OP:
'I don't use public services much, no.'
Oh yes you do, and your family will too!
Will you or the people you love never need the police, the fire brigade, an ambulance, accident and emergency, trains, streets, roads.....?!
A bit naive there OP

Another LL here. I'm in favour of (or at least not opposed to, maybe that's more honest) more rights for tenants, but I'd like broader reforms to the system that'd benefit both sides -

An end to the "stay in accommodation until the bailiffs come" shite from councils that only increases courts' workload, creates enormous stress for both parties and leaves tenants with an increased chance of a CCJ against their names.

Some distinction - I have no idea how - between fault and no-fault evictions, with eviction processes and speed tailored accordingly. Wrongun' tenants make others' lives much harder, because LLs who've had their fingers burnt with one bad DSS/pet-owning/previously homeless tenant are much less likely to take on another.

We're in a higher income bracket but hope to use our (great) local schools and hospital. I'm not eligible to vote but I'd have voted Labour if I could.

There are bad tenants as well as exploitative landlords but you don't read about them on here

You can't have been on mumsnet very long then, there are some corker threads if you advance search.

I'm a landlord, and a single parent. Until the recent changes I'd have been better off on tax credits than I am as a LL, my income is pretty low.

I'm delighted that the country isn't quite as callous and self centred as I thought it was after the brexit vote. I'm quite happy to see increased rights for tenants, that would be good for landlords too! Its ridiculous that tenants have to wait for bailiffs to come before they are considered homeless by councils. That's a situation that is bad for both parties. I'd like to see landlords rights to evict anti social, destructive, non paying tenants increased and made significantly easier, because it would be fairer on both sides. Landlords wouldn't have to pay out thousands to evict and longer more stable tenancies would be good for me and my properties, and insurance and mortgage companies wouldn't need to be so risk adverse when it comes to people who claim HB.

Most importantly, I'm happy that some faith has been shown in a political party with a leader who has decent morals, wants peace more than money, and who is prepared to stick by his principles.

Some people talk right bollocks. One poster declaring they don't use the NHS because they have private healthcare? Who trains the doctors? Who pays for the GPs and the midwives? I have some of the best private health money can buy and I still use the NHS for smear tests!

Utterly delusional.

We're landlords and earn over 80k.

We will never, ever vote Conservative.

I'm happy to pay more tax.

I'm exactly the same as you op, high(ish) income, and a private LL.

I'm delighted. Inequality is far to high in the UK although I think really it's the 0.01% super rich that are the real problem. My tenants are no less hard working than me though.

What exactly are you worried about op?

Indeed. Scared about increased tenants rights...nice

I often wonder where people like the OP think their children will live. Do they just bestow one of their houses on them? Because in my parents' leafy suburb all the OAPs sit in enormous houses, complaining that their children won't leave home.

They fail entirely to realise that their giant houses are now priced out of their children's range and they NIMBY every rental development because 'euwwww renters'. And assume that a few caramel lattes and iPhones are the reason their children, who I assume they love, can't buy a house.

Try empathy. Try to imagine being a renter. I have a better life than a renter (I know because I was there) and know how the instability, expense and stress feels. I was lucky. Luck shouldn't make my life good and someone else's bad.

Wow I've had quite the pasting.

Fair enough.

I did point out that I am only concerned that it will be even harder to remove bad tenants.

I also said I'm happy to pay the tax I do and never said I didn't use public services. Jesus wept. I just don't want to pay much more and the uncertainty ahead of us is scary.

We are in that income bracket and are very happy, would have been over the moon if Labour had won out right. This is what this country needs, a compassionate and kind leadership that doesn't screw people over.

There is more than enough protection for tenants as all the rules stand. There is not many on here who will remember being a landlord pre 1988 prior to the AST acts and back then you had a tenant forever and it was hard to put the rent up. It was a friendlier business back then though the tenant landlord relationship was better than it is now as the circumstances are different.
However, people were also more honourable then and held higher social values where most were working and a lot more people rented,and believed in the traditional values of keeping a roof over your head before you pissed it up against a wall or bought a pair of trainers with your housing benefit.
It is sadly now a give,give society and is expected as such.

National service, Borstal and corporal punishment were the standard during my youth and it would be dream from heaven to see it return.

Say what you like about Thatcher, she was a clever girl getting everyone to be a home owner to keep you off the picket line, but sadly that has now transformed to the ill of the social state which is a cross the working tax payer has to live with now.

There was no BTL mortgages back in the day it was all cash or use the bank and a lot higher rates too so you had to be sharp to be in the business. My OH in the early 80's was buying unmodernised terraces putting a bathroom on the downstairs or the third bedroom so it was mortgageable, saleable and for every two you did the third was free.

Long post I know also shows I'm getting old.sigh

so what if we pay more tax? I would rather be a £100 poorer a month (along with everyone else that is!) and have a better society and NHS

uncertainty ahead of us is scary.

The uncertainty ahead of us is all down to David Cameron, Ukip and the EU referendum. Oh, not forgetting of course Teresa May.

interest rates will rise affecting my mortgages

Interest rates are amazingly low. Anyone who has a mortgage, whether for a primary residence or BTL, should have factored in the fact that the rates could rise. Hence why I live in a smaller house than I could afford, because I didn't want to find myself in the proverbial, either because of a rate rise, or because DH or Iost our jobs.

If you have a BTL you are already in a privileged position.

Only £100 a month??? That's chicken feed! Anyway, JC did not win.

I'm in that bracket though not a BTLer. I have absolutely no problem with paying more tax as long as it is spent effectively and efficiently for the good of our society (on health, education, welfare, infrastructure etc and not wars). If I have to pay a few hundred or a few thousand pounds more it's not like we're going to starve. I would like to see more done about fairer distribution of wealth though. Income-based tax strategies do nothing to scratch the surface of that.

Zeffering you must come from a better place than my family as they all have a completely different memory of the Thatcher years to you! Blokes regularly pissed their salary up the wall before they got home, that's why we have child benefit!

And as for borstals/corporate punishment/national service, you must be an utter sadist to wish for any of that.

Just looking back at some of the previous posts; what people can't grasp there will never be enough social housing in the UK, There was'nt enough during the seventies as otherwise there would not have been private landlords.

Cheap borrowing was the root course of most of the evil of the rising house prices and the investable boom and bust scenario.

Traditionally in the history of UK home ownership borrowing was low you lived someone for three or four years and then made a small profit and then sold and maybe only borrowed 4 or 5k more to move. It was always better to pay more for your money and have less debt IMO than how it is now for 1st time buyers borrowing house amount to only be more exposure to the market forces of enexpected unemployment planning a family etc.

Your words op "I don't use public services much, no"

Can't see what's wrong at all having the return of National service or borstals?
You might find it would kick start some of the youth into a different sense of what life has to offer other than festering on the streets. Nothing sadistic about that is there?

As for Thatcher I was merely pointing out she knew what to do and did just that-and the majority of the population were sucked in only to find in the early nineties their houses were being re-sold to people like me, at rock bottom money and then getting a council grant to refurbish them after irritated ex-owners had flooded or ripped the fittings out in frustration before they were re-possessed.

Well done OP you win dickish thread of the day 👏🏻

BtL is a financial instrument and all financial instruments have intrinsic risk. So YANBU to be worried but no risk no gain, that's how financial instruments work. You chose one that has the additional human factor = risk of tenants, quite possibly because you thought it was the most lucrative option.

That is why it is hard to be sympathetic - if you go for a certain option because you think it will make you the most money, you have to accept the risks that come with that, e.g. sudden spikes in interest rates.

And you do always have the prudent option of less risk ie sell them.

Is this real? I also fit that criteria and I'm pretty gutted by the election result because the Tories are still in there in the first place! I'm also in Scotland so can't believe what we've done

What exactly do you think is going to happen to you? Less disposable income to blow out every month?

Have you had a bad experience with tenants? I am very confused by your post