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  • Buy-to-Let

    The housing crisis shows how broken the UK is

    PRS at 20% of all UK housing is about same portion as 1975 - and just a quarter of the 1918 level of 78%.

    Obvs though a different animal for past 30 yrs with ASTs replacing secure tenancies/rent controls.

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    Well nothing lasts forever DL. I'm sure you've planned an exit strategy just incase, I know I have.

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    Me too my exit strategy is up and running

    I won't be a conventional LL in 3 years time

    There will be 10 homeless tenants but I won't have caused that; Osborne will have caused that!

    I will however hopefully have one resi mortgaged 4 bed property where I will be taking lodgers who who will generate the same net income as I currently receive on 5 properties.

    I would then NOT be subject to rent controls or tax on income up to £7500 plus no CGT.

    As far as I am aware Corbyn couldn't control lodger rents but I wouldn't put it past him to try to do so.

    This will be my hoped for exit strategy

    It all depends on how much I make from selling up!!

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     possibly tax on £7500 of lodger income per resi property

    You do not get to claim rent-a-room per property. Your allowance is £7500. See section 789 of The Income Tax (Trading and Other Income) Act 2005 as amended by The Income Tax (Limit for Rent-a-Room Relief) Order 2015. This allowance is reduced to £3750 (per person) if multiple people receive the rent for the property (section 790 of the above act). (I'm not sure if this is what you were expressing doubts about).

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    This is old thinking, Owen looks at social housing as being more affordable rents, in reality they are subsidised rents, given the policy of these subsidised rents and then RTB which subsidises buying the property actually the PRS is much better value.   If Owen got his way we would end up with more council estates, these sorts of estates that create a social divide.


    The theory of borrowing money to build council estates where the properties because they are council estates will be worth less than it would cost to build and then allow people to rent those properties at reduced rents that would barely cover the cost of the interest on the borrowed money let alone maintenance or defaults etc.  Properties where people have the right to cheap rent even if they start earning decent money, properties that are often either bought at massively reduced prices due to RTB or often passed to the next generation when the original tenant passes away but family member also living there.  Its not fit for purpose for the numbers that would be entitled to social housing.  Yes the PRS has its issues but to try and ignore all the issues with social housing is typical lefty mentality at the moment.

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    Regardless of the subject matter, Owen Jones will be wrong.

    If a block of wood is brown, Owen Jones will write a thousand word essay for the Guardian explaining that it's turquoise.

    In a village full of idiots, he'd still be the village idiot.

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    In practice CML data shows that across Greater London average FTB has gross household income £60,000 pa as well as av £100k deposit.

    DCLG flags that 75% of UK FTBs are couples - so to buy in London needs either 2 incomes or one at twice national average wage - as well as deposit of over 4 x average gross wage.

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    Show me a capital city in the Western world that is cheap to live in (and you'd actually want to live in)...

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    "I am sick and tired of hearing that young people can’t get on the ladder bla bla. They can. Even in London they get 95% mortgages from high street banks at rock bottom rates. And yes, shock horror they have to save up about 15 grand."

    Average london deposit is £114k for a FTB. So not sure where the £15k figure comes from.

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