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John Dorman

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About Me

Landlord

my expertise in the industry

Since 2000

John's Recent Activity

m Goe - has an increase in supply of PSR over the past 5 years driven rents down? A reduction may not be desired but the current pace of expansion which is occurring is politically equally undesirable. Seen on another site the illustration that £12k income for a LL in rent allows a borrowing of £240k based on 125% /4% int borrower calculation. £12k income for an employee or other self employed business allows £42k borrowing based on 3.5 times. I am impacted by clause 24 but happy to understand their is a contract view as many are unable to buy a home. If this reduces pressure on house prices or removes the froth over the past few years then I will live with that.

From: John Dorman 05 November 2015 08:37 AM

m Goe - has an increase in supply of PSR over the past 5 years driven rents down? A reduction may not be desired but the current pace of expansion which is occurring is politically equally undesirable. Seen on another site the illustration that £12k income for a LL in rent allows a borrowing of £240k based on 125% /4% int borrower calculation. £12k income for an employee or other self employed business allows £42k borrowing based on 3.5 times. I am impacted by clause 24 but happy to understand their is a contract view as many are unable to buy a home. If this reduces pressure on house prices or removes the froth over the past few years then I will live with that.

From: John Dorman 05 November 2015 08:37 AM

I absolutely understand the sentiment felt by many Landlords who are impacted. I am one of them. But the tone of debate and sense of entitlement by many landlords has totally turned my view on this. The ability to deduct interest from a business cost is common sense - but it is not a human right. Many in the UK struggle to buy one home yet us Landlords have bought (using our ability to borrow) and then leased back to those unable to buy - however, we charge the tenant even more than the mortgage for our gain. I really do understand why this feels unfair - but there are huge injustices in this world and many human rights issues and this just is not one of them. If your trapped it may seem unfair - but there is a long line in front of you who feel they have been wronged by a government change. If a LL has to sell the house remains standing - it will be occupied by someone else - and if there are loses then there will be winners moving in. Cash Landlords are unaffected - but that is because they are using THEIR OWN money and that's up to them. If you have the money you tend not to buy lots of houses due to the work involved - there is better places for for money. So this is to avoid the recent explosion which could see 2 million BTL landlords all buying a little 10 house portfolio (ie that's 20 million houses of the 27 million total) then letting them back to the rest of the population. I have changed my strategy - there is some impact - but I am not calling this an injustice or infringement of my human rights.

From: John Dorman 04 November 2015 07:58 AM

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