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  • Section 24 HQ

    Wolf Eat Dog - Success relies on Failure.

    Context -

    I had a conversation with fellow PT community member regarding the attempt to remove the remainder of the 20% finance relief. And with PB recenty puzzled by inaction of section 24 affected.

    Today I had a feeling that those who have sorted themselves out via incorporation and additional expense may lack apathy for other landlords.

    Potential reason why?

    Some have adapted and some may relish the fact there is fewer landlords.  Bigger bite of the cherry if the smaller landlords disappear. Bigger Wolf eats smaller Dog

    Hungry wolves licking there lips?? As others become lambs to the slaughter.?

    Am I wrong?

    Do others have to fail so that I may suceed.?

    somebody has to lose in order for me to gain.?

    Increased rents for those that remain?


    Reintroduce full mortgage interest relief and drop the 3% stamp duty surcharge

    PLEASE sign Petition Here

    Landlords have always been apathetic. Most of them don't even know they are a landlord - they are a vet, a teacher, a solicitor.  97% of the 2.5 million landlords in the UK are deemed "small" landlords - i.e. 3 properties or less.  They are the mass market and they are not engaged with this topic.

    Meanwhile, incorporated landlords and ltd co. landlords are sitting on the sidelines ready to buy up sole trader landlords' properties as they sell up, probably at a discount. "Landlord cannibalism", as I call it.

    The changing landlord dynamics you propose were debated in this video:


    Two tier rents. 

    like Vat registered builder Vs non vat registered builder qoute.


    Reintroduce full mortgage interest relief and drop the 3% stamp duty surcharge

    PLEASE sign Petition Here

    Some even created there own competition - course sellers and discussing how good it was.  80's character Loadsa money.

    What would happen if I went back in time machine and stopped homes under the hammer from being Ever being shown.

    Gladwell - Tipping point ?

    Or was it low interest rates.


    Reintroduce full mortgage interest relief and drop the 3% stamp duty surcharge

    PLEASE sign Petition Here

    My Great Grandfather built a business of corner shops

    and my Grand Mother took over when he passed and my Mother and Father took over the business in the late 1950s

    I saw the end of there business and it was due to the impact of the Super Markets

    I have always used this comparison on PT since Osborne Law came to our streets

    As with corner shops we will see the same fate

    Yes Small Landlords will survive as my Mother and Father survived but If you really want to build a business in BTL you will need

    to become a company Landlord

    I am one of the Landlords who has adapted what I own Now and what I will own in the future

    The Larger I become the stronger I will become

    where my Mum and Dad could not compete with the large discounters like TESCO ect

    Now I am not buying tins of Peas to sell But I don't need to leverage I can afford to do a project with cash

    This gives me a big edge on other landlords who need to borrow

    The old saying money makes money is a true saying

    I am sitting watching what unfolds in our sector

    I will come back to BTL when I see opportunity 

    I want a good yield and I want to see what govt policy brings

    Since I started in this Game I have always done well in a crash

    I honestly believe we are heading for a crash and then I will buy again via my Company

    I have every intention of becoming a Supermarket because that's where my future lies


    Learn Change and Adapt ?????

    If we are heading for crash , would you not sell up everything  ?, lock in the gains and then come back ??

    A correction might be different however and sit tight strategy.


    Reintroduce full mortgage interest relief and drop the 3% stamp duty surcharge

    PLEASE sign Petition Here

    No I will never sell

    But If my gutt feeling is right and we see prices drop and I could make good yields I would buy again

    Yeild is my only driver

    if yield was right I would jump

    In my own area demand is still high

    I have had two voids this month

    a house 4 bed

    and a two bed flat

    I put both on my FB page and they were gone in five days

    Both went to working families so happy days really for me


    Learn Change and Adapt ?????

    I believe that you are inherently correct with your assessment  of the wolf eat dog situation. Essentially most S24 LL are the little dogs playing in the unleveraged wolf domain.

    Essentially  the leveraged sole trader LL has been an interloper in the rarified world of the big money cash rich LL.

    They are after all 50% of the the PRS.

    Then add those LL who have operated and will now operate as corporates and you have a load  of wolves.

    Leaving a very small sector of dogs.

    These dogs will be gobbled up as their investments fall apart because of the level of debt they have.

    S24 is the final straw and makes these little S24 dogs ideal for gobbling up.

    There will be no sympathy  from the big bad wolves.

    This is evolution in action.

    Survival of the fittest.

    A leveraged LL had been rendered vastly unfit by Govt.

    Such a change cannot easily be recovered from.

    So from the wolves perspective they would rather nobody mentions S24 etc cos all of a sudden the dogs will realise they are stuffed and there will be a mad  scramble for the exits where the big bad wolves will be waiting to gobble up all those now very little dogs. It's a jungle out there!!

    Their existence only came about due to the changes in the HA and the BTL mortgage product based on rental income and not personal income.

    The mortgaged sole trader LL had no inherent right to exist.

    Govt has determined to get rid of them.

    They know there are big bad wolves out there ready to gobble all these little dogs.

    Potentially much of the PRS WILL return to becoming  the province  of cash rich LL with a few corporate small LL.

    The days of the little dog are over

    The big bad wolf has returned.

    I wonder what the BTL lenders will do when they have very few little dogs remaining to lend to!!??

    But Govt will  have got its way by eradicating most of those tiresome little dogs .

    Nothing though will have changed as far as FTB are concerned.

    It will just be the wolves letting to them rather than the little dogs

    I would suggest that a little dog provides a more responsive service.

    A wolf really isn't that bothered.

    He has plenty of cash rolling in and no mortgages to worry about.

    Tenants will mourn the passing of the little dogs.

    But Govt has decided it doesn't want them around anymore so they have made conditions very conducive for the wolves who may well make some political  party donations so that they can continue  to establish their larger lairs on the bones of the little dogs they have eaten!!!

     A sad day for the little dog who will remain as stuffed ornament on the big bad wolf's mantlepiece!!!


    Simply not viable for most LL.

    It is either residential lettings or nothing.

    Looks like for many it will be nothing! !