Mr. Dazzle wrote: ↑Sun Oct 23, 2022 11:15 am
All this talk of massive BTL taxes.
What about the people who don't want to buy? If you're only staying somewhere for a year or two do you have to buy a house then? Or just pay the inflated rents brought about by a tax which is trying to solve a problem that doesn't actually affect you?
There's nothing wrong at all with a thriving rental market. Other countries manage it perfectly well. What's happened here is like some sort of pyramid scheme buying places on a mortgage, recovering the interest through rent and using the rising asset value to borrow and buy more. Classic bubble.
Where people or businesses have owned places for years and don't have to screw tenants for mortgage payments it works
Maybe you shouldn't be able to rent out a property where you only own 10% of it, otherwise you're renting out on behalf of the mortgage company...dunno, make it 50%?
Doubt is not a pleasant condition.
But certainty is an absurd one.
Voltaire
In the village where I lived as a child the biggest landlords were builders. They built a house, rented it out, and built another. They also built other stuff to sell, but the rental portfolio was a hedge against bad times, and their pension. They had no mortgages to service so rental was relatively cheap. Houses were basic, by comparison council houses were high spec.
Jody wrote: ↑Fri Oct 21, 2022 5:08 am
Shake up of the personal property system:
All searches etc are performed by the estate agent BEFORE they are allowed to list the house. Costs of the fees to form part of the cost to the seller (buyer doesn't pay any). All Sales of private property must complete in 5 working days.
And to help that happen
Guaranteed acceptance of mortgage with payments at 80% of your current rent payment if you have made 36 consecutive payments on time. To balance that, if you do default in the first 10 years you lose everything. However if you are struggling, mortgage terms can be extended to reduce payments.
Taxes on 2nd homes to be huge.
Taxes on BTL and rental property income to be huge.
Those last two will free up properties for all those people now able to buy!
I say all this as someone who has had a BTL property for the last 15ish years!
That sounds quite a lot like how the old mutual building societies worked, you saved a regular amount to prove you could and then at some point applied for a mortgage with them.
Jody wrote: ↑Fri Oct 21, 2022 5:08 am
Shake up of the personal property system:
All searches etc are performed by the estate agent BEFORE they are allowed to list the house. Costs of the fees to form part of the cost to the seller (buyer doesn't pay any). All Sales of private property must complete in 5 working days.
And to help that happen
Guaranteed acceptance of mortgage with payments at 80% of your current rent payment if you have made 36 consecutive payments on time. To balance that, if you do default in the first 10 years you lose everything. However if you are struggling, mortgage terms can be extended to reduce payments.
Taxes on 2nd homes to be huge.
Taxes on BTL and rental property income to be huge.
Those last two will free up properties for all those people now able to buy!
I say all this as someone who has had a BTL property for the last 15ish years!
That sounds quite a lot like how the old mutual building societies worked, you saved a regular amount to prove you could and then at some point applied for a mortgage with them.
I bet there was no guaranteed acceptance, I think Jody wants to kill off the mortgage industry along with rentals.
Potter wrote: ↑Sun Oct 23, 2022 10:50 am
Personally I'd support 100% mortgages with some sensible criteria.
One of the criteria being that bankers aren't allowed to package them up into something that they are not.
No bank would go near a 100% mortgage at the moment - and rightly so.
Maybe in a few years when things stabilise you could make a case for them. But you’re right, they would need to be tightly legislated - which in turn would stop the banks offering them.
Mr. Dazzle wrote: ↑Sun Oct 23, 2022 9:33 am
The government don't pay for old age care homes. If you have more than 23k assets (including your home) you have to pay for it yourself. If you have more that 14k you still have to pay some of it. Its only when you're <14k you'll get it "for free" but you'll still be handing over all of your pensions.
It's a bit fucked up though... Work all your life and give everything you have worked for to help you die a bit slower!
My Dads mum lived on her own until she was 96 and was very much the matriarch of the family. She died at the good ol' age of 102 but in those 6 years the home had drained over £180k of funds from her, one hundred and eighty fucking K!
The system has been and is still setup to take everything from you and until things change we are all doomed! well at least our wallets are!
At 102 you have to ask if she really needed the money sitting in her account, if she appreciated those last 6 year then it was her money well spent. Unless of course you're concerned about your inheritance.
KungFooBob wrote: ↑Sun Oct 23, 2022 7:58 pm
At 102 you have to ask if she really needed the money sitting in her account, if she appreciated those last 6 year then it was her money well spent. Unless of course you're concerned about your inheritance.
Exactly that, where was the choice for her to hand anything down? Inheritance or death and misery for your sons and daughters? what do you want to do?
Love my olds to bits, but since adulthood I've always tried to take as little from possible from them. I have my own life and don't need them to die to improve my own.
I don't want or need an inheritance, I'd rather they enjoy their money.
KungFooBob wrote: ↑Sun Oct 23, 2022 7:58 pm
At 102 you have to ask if she really needed the money sitting in her account, if she appreciated those last 6 year then it was her money well spent. Unless of course you're concerned about your inheritance.
Exactly that, where was the choice for her to hand anything down? Inheritance or death and misery for your sons and daughters? what do you want to do?
Who do you think should have paid for her last 6 years of care, and why should they have paid for it?
KungFooBob wrote: ↑Sun Oct 23, 2022 7:58 pm
At 102 you have to ask if she really needed the money sitting in her account, if she appreciated those last 6 year then it was her money well spent. Unless of course you're concerned about your inheritance.
Exactly that, where was the choice for her to hand anything down? Inheritance or death and misery for your sons and daughters? what do you want to do?
Who do you think should have paid for her last 6 years of care, and why should they have paid for it?
All i'm saying is that she had lived through 2 world wars raised 3 kids and she has to pay for her care (my inheritance) but someone on the dole who has done fuck all can get it for nothing!
Greenman wrote: ↑Sun Oct 23, 2022 7:54 pm
She died at the good ol' age of 102 but in those 6 years the home had drained over £180k of funds from her, one hundred and eighty fucking K!
£82.19/day - full board, heating, hot water, 24 hour care on hand etc etc etc.
That's not draining, that's payment for services rendered. How much would you charge to do it?
Doubt is not a pleasant condition.
But certainty is an absurd one.
Voltaire
KungFooBob wrote: ↑Sun Oct 23, 2022 8:05 pm
Love my olds to bits, but since adulthood I've always tried to take as little from possible from them. I have my own life and don't need them to die to improve my own.
I don't want or need an inheritance, I'd rather they enjoy their money.
Same here, i've had no inheritance ever, ever! I have had to help my old for a few years, it's complicated!
Exactly that, where was the choice for her to hand anything down? Inheritance or death and misery for your sons and daughters? what do you want to do?
Who do you think should have paid for her last 6 years of care, and why should they have paid for it?
All i'm saying is that she had lived through 2 world wars raised 3 kids and she has to pay for her care (my inheritance) but someone on the dole who has done fuck all can get it for nothing!
I thought you wanted money taken from the rich and given to the poor?
Greenman wrote: ↑Sun Oct 23, 2022 7:54 pm
She died at the good ol' age of 102 but in those 6 years the home had drained over £180k of funds from her, one hundred and eighty fucking K!
£82.19/day - full board, heating, hot water, 24 hour care on hand etc etc etc.
That's not draining, that's payment for services rendered. How much would you charge to do it?
You know you are probs correct, i hate people living to an old age and not living their for the moment, but it's me old nan, so i'm prejudice maybe!
Still the system is wrong, we should have things that help our country and not reward those that do fuck all!
Who do you think should have paid for her last 6 years of care, and why should they have paid for it?
All i'm saying is that she had lived through 2 world wars raised 3 kids and she has to pay for her care (my inheritance) but someone on the dole who has done fuck all can get it for nothing!
I thought you wanted money taken from the rich and given to the poor?
Nah i want money taken from the corrupt and given back the to the righteous! I don't care if your rich as long as you have morals! Is that not the pinnacle of a human being?
All i'm saying is that she had lived through 2 world wars raised 3 kids and she has to pay for her care (my inheritance) but someone on the dole who has done fuck all can get it for nothing!
I thought you wanted money taken from the rich and given to the poor?
Nah i want money taken from the corrupt and given back the to the righteous! I don't care if your rich as long as you have morals! Is that not the pinnacle of a human being?
You think being rich and moralistic is the height of being human, I'd rather be happy personally, money should be spent, not hoarded.
I thought you wanted money taken from the rich and given to the poor?
Nah i want money taken from the corrupt and given back the to the righteous! I don't care if your rich as long as you have morals! Is that not the pinnacle of a human being?
You think being rich and moralistic is the height of being human, I'd rather be happy personally, money should be spent, not hoarded.
FFS that is what i said, is it not? Also note your sig
