Liz Truss and the Landlord Bonanza

Wishfull thinking!

I hope the letters flood in to Sir Graham Brady. Deluded is Trusses vision. Give rich people money they keep it. Give to the less well off they spend it. And as usual nothing for landlords doing the governments job in providing Britain’s social housing.

Your outlook is exactly why tenants have no sympathy for landlords. And, that's why we don't mind not paying you, it's also why we drag our heels in the eviction process to screw you over as much as possible. Landlords greed exploits the difficulty hardworking tenants face in buying a home, making almost impossible for them to do so. So rather than pay you lot, we save it up.

I have a studio flat in london with a very good tenant. My fixed rate mortgage is ending soon. My monthly mortgage is going up by £220. Even though I have not put the rent up for 6 years, I will have to now. I will be lucky to break even, should any major maintenance be required, I will be loosing money. I am considering selling, but I do not want to evict the tenant.

Jason, you think you are so clever not paying your way while others work to put a roof over your head.
Buy your own screw the lender see how you go on, you’ll be out in 2 months Flat.
I’ll never understand why Landlords don’t have same rights.

Firstly it doesn't look like a bonanza to me, I don't want to put my rents up, but as I have mortgages I may have no choice.
Secondly I have noticed a couple of annoying trolls on these pages lately, we really need to ignore them. This is a forum for landlords, hence it's called landlord today. I am sure there are plenty of other places for those who just want to "screw us over".
Problem is they just make life more difficult for decent tenants because we have to be so careful these days, and all the pre tenancy checking does feel intrusive, but we can't take the risk of having to deal with the tenant from hell.

I do think prices will drop, yes there will be some who do not sell, but there always people who have no choice, the housing market is about to change again.

Simon, is right we are not a Charity although I may as well be, all my Rents are well below Market Rents as is the case with many landlords. Suppose we charge Market Rents or what current Rents are locally the Homeless figures would be much worse. We are the silent majority it seems to be a mind set, others with high Rents up them all the time and at every opportunity. Those are the landlords that’s giving rise to talk about Rent caps, if this happens we are the one left sitting at the bottom of the ladder and penalised further, no wonder there’s a surge in Rent increased recently by LL’s getting panicked by this talk.

I am seriously below market rents many haven’t increased in 10 years while being eroded by inflation, extra costs and licensing Schemes the main driver of high rents. Seriously
they then talk about high rent and rent caps that they created, while telling Tenants its the Landlords fault.

Really? I have two large HMOs which I seem to run for charitable purposes already, though that’s mainly because I’m on a repayment business loan. The electricity and gas bills are going nuts, now the interest rate on the loan is 5.5% thank god I paid half of it off over the last ten years. Biggest problem? The price setter is the LHA rate, which has increased by 5% in 12 years. My only option is to spruce it up and stop letting to social tenants.

Selective Licensing, just take a look on Government website if you want to know why they are saying they are bringing in the Scheme, or if you want to know the biggest lie ever told.
It values the private rented sector and wants to see a strong, healthy & vibrant market. It’s aim is a bigger and better private rented sector that offers security, stability and decency.
Is this compatible with driving out thousands of Private LL’s.
Giving £1b fund build to rent to replace the Private landlords they have driven out.
A further £3.5b private rented guarantee investment scheme to under pin investment.
This is all to support and bring in the big boys to replace us obviously we are not getting any of this.
They are also educating Tenants to destroy landlords, just further collusion… is it still not clear to you, some legalised corruption going on.

Micheal, where is the website. I assume dept of levelling up etc

Not a helpful article.

1989 slump was caused by key costs going up via removal of tax relief … for this read mortgage interest rates tripling together with energy crisis.

2007 slump due to banking crisis and world recession

2022/23 all of the above and more!

“It could be worse, we could have a Labour government and rent caps and higher taxes”

Substitute labour for SNP and this describes Scotland today. Plus an eviction ban.

Demand for all properties is bound to fall due to the higher cost of loan finance. Landlords cashing in or selling due to fears about price falls or the generally crap outlook for the PRS will increase supply.

And the mini budget didn’t really have any effect in Scotland (except ni reversal). We already have the 19% in place here (for a tiny slice of income) but we have a £43.6k higher rate tax threshold and higher rate is 41% then 46%. And then there’s our penal LBTT, how do you fancy 4% ADS, 10% over £325k and 12% over £750k?