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I would suggest added a new benefit - a care allowance to help pay for care costs where needed.
Most people (70%) need care at some stage, buit not for very long on average (2.2 years for men, 3.7 for women)
Since this is a benefit mainly for the elderly then having the wealthier elderly help pay for it would make sense and might well be acceptable to voterrs.
Only those over pension age who earn enough to pay income tax should pay.
The benefit could be reduced in the same way child benefit is reduced for high earners.
Set the benefit as a proportion of the state pension entitlement, maybe 20 or 25%.
Allow it to be paid direct to the home when residential care is needed (often that would be replacing money already coming from the government).
I think this is not a bad idea if executed fairly & modestly. There's constant whinging on over this area of society that there is no the funding. So to put this on to bed and give the elderly ghe reassurance they need in old age that of they need care the are not going to lose their home etc could be a way forward so long as such a tax did not conditions as too great a cincern/burden on the elderly I think. Still a government willing to make any changes to what the elderly have to pay risk losing them as voters as we saw in the last election.
Substantial numbers of those elderly will be dead come the next GE
Demographics are swinging towards the idiot lefties.
This means that they will be coming for the wealth of the elderly.
On average people move to the right as they age - probably because they learn more.
People are living longer.
Put those together and demographics is moving away from the left
Yes they will die but only to be replaced by even more of the wealthy retired.Twenty years time will be a problem when the mass of renters start to retire
I don't see a problem
The feckless renters will just go on FULL welfare
Of course the thing that might prolong their agony is the retirement age increasing.
But without renters purchasing the HB benefit bill will be massively increasing.
It will be relatively good news for those LL still willing to take HB tenants.
Pensioners generally make for good tenants even those on welfare.
But of course for many existing LL we will be beyond caring!!!
Most of us will be out of the PRS or pushing up the daisies!!
Politicians today are not the slightest bit interested in what will be occurring in 20 years time.
The welfare bill will massively increase especially in the SE
There will be no self funders to support care homes fees.
The renters will have no assets to rob to pay for such fees.
Govt if it had any sense would do all it can to trap people into homeownership.
It would then be able to steal the asset value when required and would save a fortune in HB etc as the renters would would not require HB as they should have unencumbered residential properties by then.
Govt should really extend HTB across the whole housing market to trap as many tenants as they can into buying.
Wages are so low that many tenants will never be able to buy
I would launch a massive HTB programme with Govt lending £100000 to those who were prepared to buy and come off HB.
Somehow Govt has to encourage tenants to buy.
S24 won't achieve this.
Tenants still can't afford property in the SE.
A national HTB scheme for any resi property could trap millions into home ownership which is what Govt desperately needs to occur.
A new report by the Resolution Foundation has proposed further taxes to support affordable housing and first time buyers being able to get onto the property ladder.The report says the tax system should be changed to discourage second home ownership, reducing stamp duty for people who own one home and increasing surcharges for second home owners.
It also calls for "light touch" stabilisation policies to limit rent increases to the rate of inflation over a three-year period.Full/source article
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
RENTED HOUSING REPORT SHOWS PERFECT STORM FOR YOUNG PEOPLERESPONDING to today’s report from the Resolution Foundation which suggests that up to a third of young people today could be renting homes into their retirement, David Smith, Policy Director for the Residential Landlords Association said:“Today’s report shows the perfect storm that young people face. With home ownership remaining difficult for many to access, demand for homes to rent continues to increase. This is at a time when Government tax increases are discouraging many landlords from investing in new homes to rent out.“Ministers need to make pragmatic changes to their approach to private rented housing, with a series of policies that support, rather than attack, the majority of private landlords who are individuals to invest in the new homes to rent we need alongside all other tenures. This includes greater support and encouragement for those prepared to offer longer tenancies but who are concerned about being locked into agreements where tenants might be failing to pay their rent, not looking after their property or committing anti-social behaviour.”Recent research by the RLA has found that 69 per cent of landlords are being put off investing in further homes to rent as a result of the Government’s three per cent stamp duty levy on the purchase of homes to rent out.The RLA is calling for a number of reforms to support those in rented housing, including: