Browse All Tribes or choose a Tribe below:
By signing up I agree to Property Tribes Terms and Conditions
Already a PT member? Log In
Sign Up With Facebook, Twitter, or Google
By signing up, I agree to Property Tribes Terms and Conditions
Already a PT member? Log In
Don't have an account? Sign Up
To reset your password just enter the email address you registered with and we'll send you a link to access a new password.
So-called ‘dinner party landlords’ are being squeezed out of the buy-to-let market, as recent tax changes and falling yields continue to impact their bottom line.
Only one region – Yorkshire and the Humber – delivered higher gross yields to investors in 2017 than the year before, according to UK Finance. Landlords elsewhere have seen their returns shrink or remain flat as tenants are unable to afford further rent increases. Those in the industry believe many investors are now seeking to exit the sector.https://www.telegraph.co.uk/property/buy...ffer-best/
Learn Change and Adapt ?????
The market may be set to be flooded with a swathe of former buy-to-lets, the National Landlords Association claims.
The trade body’s latest quarterly landlord panel of 1,043 members, found 19% intend to sell some of their property.
The NLA said this equates to up to 380,000 landlords looking to offload property.
Almost half, 45%, of those intending to sell said they would get rid of individual flats and apartments, with a third looking to sell terrace homes.Full/source article
general operations director, site owner and moderator - propertytribes.com
The lack of knowlage is widespread
I still talk to landlords who don't know
I some times get a blank look when I mention the above.
I had to look up CP12 but I do not have any properties with gas. Every landlord should know about the other acronyms.
Neither did I David; the world has become so full of acronyms - there must be 10's of 1000's floating around - and everyone is expected to know them all at a moment's notice.
Maybe PT should have a register of all the property / financial acronyms for easy checking, as I seem to know only a few of the regular ones!
There was a glossary started a few months ago here
First time buyers will be rejoicing at the fact that market is to be "flooded" with properties.Its nice for the National Landlords Association (NLA) to confirm for the Government that George Osborne plan is working.
Though I guess the other 81% of landlords not selling will snap up the odd opportunity along the way.
So if 18% is 380k landlords, NLA is saying there is 2m landlords.When the government said 1 in 5 landlords will be affected that would be 400k landlords.So (more or less) every landlord that is affected by the removal of mortgage interest releif is to sell !
I'm going to call BS on the survey. Estate Agents windows are empty, I don't get the whole "im going to sell" is landlord bluster if they were "going to sell" they would be listing the properties. Not talking about it on NLA.. No?Can I ask those who are "going to sell" is your property listed? if not why not?
_________________________________________________________________________The above post is not financial advice, its often me rambling - passing time on a coffee break.If you are looking for the Best BTL Mortgage? Call the Specialist Team at Bespoke Finance._________________________________________________________________________
I would not jump the gun Adam
not one landlord has paid a penny yet in extra tax I will hold my opinion for 18 months and then we will have a better picture when tax bills have to be paid
That makes sense DL, so the people who are "going to sell" are waiting until they get there first Tax Bill.
I wouldnt have that mindset though if they can estimate what that bill is going to be, in order to make them "want to sell" (but not yet.. )Then why wait until 18% of other landlords are selling up? Wouldn't it make sense to sell now. Before the market is (as the nla say) "flooded" with properties.
Quite a few more than usual coming onto the market around me - and that's before people have started shelling out on tax bills.
DISCLAIMER just my personal opinion - for legal advice consult a qualified professional grown-up.
Whilst I have no short term plans to sell I have certainly stopped buying. I had planned on adding another 10 properties to my portfolio over the last 3 years but cancelled these plans as soon as S24 was announced.
This means S24 has reduced the tax HMRC would have received: No stamp duty, no VAT , no corporation tax from solicitors/mortgage brokers estate agents. No tax from the businesses that would carried out any refurb work. No tax from the sales in the stores that would have supplied the goods for the refurbs.
Less good quality homes available to rent (or no increase in homes available may be more accurate) inspite of increased demand.