rents will soon be rising and the poor will suffer

[bil66]

There is a new tax coming out called section 24 which the Government does not want you to know about.

The tax will put up the cost of renting properties dramatically and this in turn means that landlords will not be able to rent to people on low income.

Finding a property for people on low income is already very difficult but its about to get much worse.

Action needs to be taken to stop this tax and complaints should be made to your local council and MP.

[oatbakeUK]

I have made a petition to get the remaining buy to let tax relief removed so that there is a level playing field for first-time buyers. Please consider sharing and signing:

petition.parliament.uk/petitions/219416

Thank you.

[bil66]

www.huffingtonpost.co.uk/entry/b...k-homepage

[bil66]

www.propertytribes.com/agents-report-significant-decline-in-stock-t-127634518.html

[bil66]

looks like my predictions are coming true already.

[StormTreader]

I love that you're keeping on trying to defend your terrible position here.

Available properties to rent are dropping - what do you think is happening with those? The people worst-placed to be landlords are selling them is whats happening. They'll be picked up by the more professional landlords above who can afford to properly maintain and run them, and first-time buyers is what. Good.

[bil66]

www.crisis.org.uk/about-us/latest-news/crisis-responds-to-unacceptable-rise-in-number-of-people-in-temporary-accommodation/

[bil66]

If what you are saying is true the homelessness rate would not keep going up now would it ?

[bil66]

Perhaps you would like to sign this petition once you realise what i am saying is true

petition.parliament.uk/petitions...atures/new

[GETTINGLIKEMYMOTHER]

I'd have thought it might have dawned on you by now, bil, that the vast majority here are emphatically not in favour of landlord subsidies courtesy of the taxpayer, and think it's high time they were phased out.
You're flogging a dead horse here, but you can tell your friends at Property 118 that you tried.

[StormTreader]

Oh bil66 you poor blinkered dear.

[bil66]

I don't need your permission to post here

[StormTreader]

Who said you did? You can say whatever you like, as can I.

[bil66]

petition.parliament.uk/petitions/219279

[blaaake]

Bloody hell just let the thread die.

[BELLAARA]

As a slight aside (the discussion seems to have tailed off now), what does strike me is the potential for all the homeowners who have bought recently, at inflated prices due to the market, to be plunged into negative equity should S24's full operating capability cause a flood of affordable properties onto the market, as some PPs think (hope?) will happen.

Fine if life doesn't throw a curveball that dictates they need to sell.

So potential for non LLs and tenants to be affected too?

[StormTreader]

Yes there is, but that is always going to be the case with anything you buy. If a new phone comes out next week, the current shiny one will suddenly drop in price - there's always a risk that "prices may drop as well as rise".
Not doing anything to try and address a rising bubble because it means some people will be negatively affected is how the bubbles get so huge and painful when they eventually do go. That's why buying a house right at the upper limit of your ability to pay the mortgage on it has never been a good idea, and yet people still do.