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  • Buy-to-Let

    Overcharging Landlords??

    Just been watching PMQ on the DP show.

    J Corbyn referred to overcharging LL  when making a point about UC

    So my question is

    What is an overcharging LL  and by how much rent would  a LL  be deemed to fall into the category of an overcharging LL?

    How can a Govt decide what is overcharging! ?

    Surely that point is reached when a LL  can no longer source tenants at the price he wants.

    Such LL  would then need to reduce rent and fall out of the 'overcharging' LL  category!?

    It won't affect normal LL; but Govt has announced there will a lifting of the LHA freeze for supported housing.

    As far as I am aware no private LL  engage in supported housing.

    So it seems that if Labour wins the next GE they will probably take action against 'overcharging' LL

    What the threshold will be for an 'overcharging ' LL  to have action taken against them God only knows

    We have already seen idiot McDonnell denote that those to be hit by higher taxes will be 'rich' people

    The threshold  as far as he is concerned to be rich is £80000!!!

    Whether that is gross or net I'm not sure

    Of course a LL  with a current gross income of £40000 and a S24 mortgage debt interest income of £40000 automatically  becomes rich!!!!

    To be then hit by God knows what additional taxes by dopey Labour if they get in.

    Will LL  have to consider reducing their mortgage debt interest to avoid becoming 'rich'

    This in addition to S24 taxes which will require tax on fictitious income.

    Hopefully every LL  is growing a magic money tree so that monies may be available in lieu of actual real income to pay these taxes!?

    Will Labour be indicating on a countrywide basis at what rent  threshold  a LL  becomes an overcharging  one with action to be then taken against them?

    One presumes there would need to be regional  variations to whether a LL  is an 'overcharging ' one

    Just imagine one street over from another one you could be deemed to be a 'rich' 'overcharging ' LL! !!!!!!

    Not good! !

     Will company income that isn't taken as dividends be counted as part of the calculation of determining who is 'rich' according to Labour?