Mister M Posted June 5, 2017 Share Posted June 5, 2017 I do remember last year watching a programme on ITV - one of those 'Tonight' 30 minute current affairs programmes. It focussed on the problem of local people in the South West of England (IIRC Dorset or Cornwall), where average wages are low and house prices are high. There was some scheme being talked about where local people were given preferential treatment, because in certain seasons, like winter, areas such as these become ghost towns, and local employers struggle to recruit people. As I recall the local MP mooted the idea of those with second homes paying a premium Council Tax on second homes as a possible solution. Link to comment Share on other sites More sharing options...
Guest Posted June 5, 2017 Share Posted June 5, 2017 What about the millions of people who cannot get a mortgage ? They have no choice but to rent ? Ban private landlords and many of them will become homeless. If they can afford to pay such high rents, then surely a mortgage is within their grasp? Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted June 5, 2017 Share Posted June 5, 2017 "Should there be a ban on buying more than one property " Even if there should be, how on earth could it be enforced? Link to comment Share on other sites More sharing options...
Danny_Boy Posted June 5, 2017 Share Posted June 5, 2017 If they can afford to pay such high rents, then surely a mortgage is within their grasp? If they have a history of defaulting on credit agreements they won't qualify for a mortgage. With renting the clients will be able to get a guarantor this won't be an option with Mortgages. Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted June 5, 2017 Share Posted June 5, 2017 If they have a history of defaulting on credit agreements they won't qualify for a mortgage. With renting the clients will be able to get a guarantor this won't be an option with Mortgages. Er, who knowingly guarantees the debts of a bad/late/non-payer? Link to comment Share on other sites More sharing options...
Guest Posted June 5, 2017 Share Posted June 5, 2017 If they have a history of defaulting on credit agreements they won't qualify for a mortgage. With renting the clients will be able to get a guarantor this won't be an option with Mortgages. Maybe the answer would be to allow tax free ownership of 2 homes - one for personal use and one for renting, with high taxation on the third and subsequent properties. This may allow for a reasonable supply of properties being available for rent whilst allowing first time buyers the chance to get on the property ladder. What I'm deadly against is the Rachman situation of the 60's. Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted June 5, 2017 Share Posted June 5, 2017 What I'm deadly against is the Rachman situation of the 60's. To be fair, Peter Rachman housed tenants whom nobody else would house. Yes, he overcharged them- but they appreciated having somewhere to live, all the same. Link to comment Share on other sites More sharing options...
Guest Posted June 5, 2017 Share Posted June 5, 2017 To be fair, Peter Rachman housed tenants whom nobody else would house. Yes, he overcharged them- but they appreciated having somewhere to live, all the same. But that didn't justify the exorbitant rents that he charged, did it Jeffrey? Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted June 5, 2017 Share Posted June 5, 2017 But that didn't justify the exorbitant rents that he charged, did it Jeffrey? No- and nor did I claim that it did. But profiteering during a supply shortage is not inherently unlawful. Link to comment Share on other sites More sharing options...
Danny_Boy Posted June 5, 2017 Share Posted June 5, 2017 Er, who knowingly guarantees the debts of a bad/late/non-payer? Parents do and they do it quite often as well. I saw it a lot when I worked in a local Estate Agent. Also seen a few people on the tv show Can't pay we'll take it away, when they have the high court bailiffs round as their son or daughter hasn't paid and the parents are now liable. ---------- Post added 05-06-2017 at 18:18 ---------- Maybe the answer would be to allow tax free ownership of 2 homes - one for personal use and one for renting, with high taxation on the third and subsequent properties. This may allow for a reasonable supply of properties being available for rent whilst allowing first time buyers the chance to get on the property ladder. What I'm deadly against is the Rachman situation of the 60's. I honestly wouldn't worry too much anyway SgtDave, I work in the industry and buy to let is dead at the moment. There is new regulation in place that is making mortgage finance much more difficult (especially for higher rate tax payers). There is also the additional stamp duty land tax which you may not think is a lot but if you're buying at £100k now you are faced with a £3k tax bill and you no longer get the tax benefits on mortgage interest. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now