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  • Property-a-holics

    Should I sell ? What Options are there ? TIA

    Should I sell ? - What Solutions or other ways are there for this Dilemma ?  I Realise that this is " What shall I do If / What if " and Nothing has happened YET - But just want to be clear about what my options are

    I mean who thought George Osbourne would have removed Mortgage Interest Relief  !!!  /  Removal of Section 21 !!! + ALL the other Rules and Regulations they are Hitting us with !!!

    I have Good Tenants who have been with me for 10 years and I would not sell but for this dilemma - John McDonnell wants to “tackle the burgeoning buy-to-let market”. He suggested to the Financial Times that they could pay less than market value, .... meaning that the profit we would have made by it increasing in value over the years could be wiped out by an undermarket sale price !!!

    https://www.independent.co.uk/news/uk/po...88211.html

    Looking forward to your solutions Thank You.

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    A solution to what? nothing has happened yet and probably never will

    If you're genuinely worried and think that the government can arbitrarily force you to sell your property for less than market rate to your tenants then you should probably sell up and exit the market. Being a landlord is not for you.

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    Doing nothing as it's not an immient policy and in my view unlikely to be implemented even if labour managed to get elected
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    Slowly working towards financial freedom

    Hello Leighton and welcome.

    This is really a duplicate thread as this has been discussed at length - 118 replies to date - here:

    Labour plans to sell your BTL to your tenant!

    How can you base your business on something that has never happened and is unlikely to happen?

    If you believe in property as an investment, stay true to the fundamentals, run a good business and be as smart as possible, join a landlord association to ensure you have a voice, and keep going.

    Your question is no different than asking "What shall I do if [fill in the blank] ?" .... Rather than dwelling on "what if's ... ?", focus you mind on solutions / "How to ... ?".

    I hope that assists your thinking ... ?
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    Well make sure you and anyone around you doesn’t vote on the new communist party (Labour). Conservative are bad, but Labour will just destroy the country.
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    Don’t do anything, this is just electioneering.

    But if this were allowed, what would stop us demand that we get food at a discount in the supermarket or in a restaurant ‘because we are hungry’, or buy a car for less ‘ because we need to get around’ .
    I recon this would lead to the total breakdown of our society and no one in their right mind would want this.
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    I think any policy such as this, introduced by any government, would need to be offset it against other policies. 

    For example, whilst this policy might sound bad, if introduced with maybe tax incentives or breaks for the landlords then there might be people who would sell up. Especially for large portfolio landlords who might be looking to retire after years in the business. 

    The sector is far less lucrative now so any incentive to help landlords sell whilst increase supply for buyers might not be bad. 

    Most of this hypothetical because successive Gov at the moment seems to be hell bent on screwing landlords and PRS.
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    Saagar

    Disclaimer: I have no legal expertise nor am I a qualified advisor on any subject. A humble landlord using an open forum to exchange ideas and experiences.