ez8004 Â Â 10 #25 Posted November 4, 2017 (edited) If you lot are relying on bank interest rates as a return on your money then you deserve what you get. Welcome to the world of stocks and properties to make your money work for you. Edited November 5, 2017 by ez8004 Share this post Link to post Share on other sites Share this content via...
area 51 Â Â 10 #26 Posted November 4, 2017 Properties should be for living in not a means of income.About time landlords started getting taxed heavily.The only thing I agree with Jeremy Corbyn on.Landlords are keeping house prices high and the young off of the property ladder,it has to change.Another product of Thatcher and Blair. Share this post Link to post Share on other sites Share this content via...
El Cid   220 #27 Posted November 5, 2017 Properties should be for living in not a means of income.About time landlords started getting taxed heavily.The only thing I agree with Jeremy Corbyn on.Landlords are keeping house prices high and the young off of the property ladder,it has to change.Another product of Thatcher and Blair.  It would be ok, but there is a lot of foreign money invested in UK houses.  We must accept that money can flow beyond a countries borders, because its impossible to stop. But our Government should build/fund more social housing to stop sky rocketing price increases. Share this post Link to post Share on other sites Share this content via...
ez8004   10 #28 Posted November 5, 2017 Properties should be for living in not a means of income.About time landlords started getting taxed heavily.The only thing I agree with Jeremy Corbyn on.Landlords are keeping house prices high and the young off of the property ladder,it has to change.Another product of Thatcher and Blair.  Moan all you want. Not my problem if people are not astute enough with their money. No government is going to change the current status quo. There has already been changes to how buy to let interest rates can no longer be considered as a cost for tax purposes. Which is why you don’t have a mortgage in the first place Share this post Link to post Share on other sites Share this content via...
Cyclone   10 #29 Posted November 5, 2017 People can get less than 2% on a mortgage.  So that was 1.75% above the base rate, and only the people with the best credit ratings and high deposits can get that rate. FTB typically have something closer to 4%.  ---------- Post added 05-11-2017 at 18:56 ----------  Moan all you want. Not my problem if people are not astute enough with their money. No government is going to change the current status quo. There has already been changes to how buy to let interest rates can no longer be considered as a cost for tax purposes. Which is why you don’t have a mortgage in the first place  Make up your mind. Is it "No government is going to change the current status quo" or is it "There has[sic] already been changes"?  The government have quite clearly been targeting landlords in recent changes, as you say mortgage interest relief against income, also the stamp duty surcharge on 2nd and subsequent properties, the HMO legislation, legislation about minimum efficiency ratings. That's so far, there may still be more to come. It's all arranged so that it deters the casual landlord, it won't affect the key tory demographic of course, those who run property empires as a business are less affected. Share this post Link to post Share on other sites Share this content via...
ez8004 Â Â 10 #30 Posted November 5, 2017 So that was 1.75% above the base rate, and only the people with the best credit ratings and high deposits can get that rate. FTB typically have something closer to 4%. Â ---------- Post added 05-11-2017 at 18:56 ---------- Â Â Make up your mind. Is it "No government is going to change the current status quo" or is it "There has[sic] already been changes"? Â The government have quite clearly been targeting landlords in recent changes, as you say mortgage interest relief against income, also the stamp duty surcharge on 2nd and subsequent properties, the HMO legislation, legislation about minimum efficiency ratings. That's so far, there may still be more to come. It's all arranged so that it deters the casual landlord, it won't affect the key tory demographic of course, those who run property empires as a business are less affected. Â Have trouble reading do we? The "current" status quo includes the recent changes. So I was implying there will be no further changes in the near future. It's not hard to comprehend. Share this post Link to post Share on other sites Share this content via...
Cyclone   10 #31 Posted November 5, 2017 Well, this will be an easy one to test won't it. We'll revisit it in a few years, same time of year so you're on your half term break again, and see. Share this post Link to post Share on other sites Share this content via...
El Cid   220 #32 Posted November 5, 2017 (edited) So that was 1.75% above the base rate, and only the people with the best credit ratings and high deposits can get that rate. FTB typically have something closer to 4%.  I think 4% is way too high for the average FTB.  https://www.statista.com/statistics/386301/uk-average-mortgage-interest-rates/  Roughly half of Britain’s 11m mortgage borrowers are on fixed rates, while the other half are on a tracker, standard variable or discounted rates. Edited November 5, 2017 by El Cid Share this post Link to post Share on other sites Share this content via...
area 51   10 #33 Posted November 5, 2017 Moan all you want. Not my problem if people are not astute enough with their money. No government is going to change the current status quo. There has already been changes to how buy to let interest rates can no longer be considered as a cost for tax purposes. Which is why you don’t have a mortgage in the first place  No I don't have a mortgage because I paid it off years ago. Share this post Link to post Share on other sites Share this content via...
euclid   10 #34 Posted November 8, 2017 Is the main reason for low interest rates for businesses to invest, at low cost? No,its so the rich/super rich,Government ministers etc..can take out multi-million pound mortgages to buy large homes while house prices/rates are low,doing what they always do..looking after themselves...and pretending they are helping the poorer ones.... Share this post Link to post Share on other sites Share this content via...
Jeffrey Shaw   90 #35 Posted November 8, 2017 But if they're so rich, whyever would they want to pay unnecessary interest? Share this post Link to post Share on other sites Share this content via...
Cyclone   10 #36 Posted November 9, 2017 The super rich surely don't take out mortgages at all. Share this post Link to post Share on other sites Share this content via...