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"Landlords buying in London face an average £40,400 stamp duty bill compared to £6,300 for an investor buying outside of the capital."
Not news that this happens, but yesterdays report says that the amount of London based landlords buying outside of London is at it's highest level.
Full story > https://www.ftadviser.com/mortgages/2017/05/16/london-landlords-branch-out-to-the-north-and-east/
The same newspaper (Financial Adviser, a brand of Financial Times) also writes that landlords are looking even more closely to cutting costs by doing a lot more DIY. The effect is a knock on that jobs in the property support industry are at risk.
This story > https://www.ftadviser.com/mortgages/2017...age-costs/
Taking an even wider view of the domino effect, where does it all end??
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Where does it End That's the Million Dollar question
The answer will be when the Govt wants it to end
The only party I can see that has a PRS Policy is the Loony Greens
The rest have said very little Labour will tax more we know that but what else will they have up there sleeves
The Tories are moving more to the left so God know what they want to do
Learn Change and Adapt ?????
Actually the Tories have moved so far to the right that they are almost unrecognisable - and in fact they have moved completely into UKIP territory.
I would class their stance on BTL as a populist rather than "leftist" or socialist move (in the model of the lunatic in the White House).
People talk about the ripple effect coming out of London
Ive never understood quite when where and why any ripples that start up then stop
Do ripples run out of steam 50 / 100 /150 /200 miles away
Is the ripple a uniform ripple or an uneven ripple determined by a myriad of other unrelated factors
When does London start up again and people flood back in and the ripple starts all over again
Or is it a constant ripple?
Jonathan Clarke. http://www.buytoletmk.com
I don't look at the ripple in terms of distance, but in terms of speed.
I've seen the ripple move from London and take about 3-5 years to get to me, then another 3-5 to get to my investment area.
From what I've seen, when it comes to moving home, people like to swap what they've got and get a lot more for that £££ further out. A 2 bed flat in central London becomes a 3 bed detached in Zone 5 etc. etc.
But when it comes to investing, London people with cash will be looking at the commuter belts outside of the M25, most probably north of north London as the communications are very good (now with Crossrail it may make a difference?), buying is so much cheaper.
Do you think the Govt have a Policy on housing
what do they want Stagnate House Prices Falling House Prices
If they could show me a Policy I would plan maybe buy more maybe not
All I want is an honest policy for the long term
Yes they will have a housing policy but is largely an empty document as they don`t honour it
The document is vague by nature. Cant blame them
They have to adapt just like we do to an ever changing landscape
They know they cannot possibly satisfy all sectors at once so they try to strike a balance
They are swamped by pressure groups
They are swamped with global matters which they cannot control
They want a predictable pattern as much as we do perhaps but they will never have it
Even if they are 10 times more intelligent than the average man or woman it is an impossible task for them
But I like democracy and the way it is set up. Its not perfect but i feel safe
Some people make their money out of life`s uncertainty
Or someone like me chooses more the hovercraft approach
Its a boring strategy maybe but it mostly just skims above the turbulent waves below for a smooth ride
Get rich slow. I don`t feel the desire to dive in and buy at the bottom and sell at the top.
I will get a soaking and may drown.
I got to my destination by mostly adopting this hovercraft strategy
But I am still vulnerable as anyone to a massive freak wave to knock me off course or sink me
As reported just recently, landlords contribute £15.9bn to the economy! If the PRS contracts, many suppliers of products and services will feel the effect as Lisa Orme explains in this video:
every landlord supplier needs to support this But they don't
My Building Contractors have on 25% the Business I was doing 2 years ago
My Mortgage Broker only gets business now when I sell to my Company
My Solicitor only gets the same property into my company
My Insurance broker will not get any more property to insure
and the list goes on and on and I have yet to meet one of my suppliers who knows anything about the changes