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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:
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**
Two tier rents.
like Vat registered builder Vs non vat registered builder qoute.
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.
Loads was a plasterer...
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.
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
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!!!
unless you do holiday lets
Simply not viable for most LL.
It is either residential lettings or nothing.
Looks like for many it will be nothing! !