Fly said:I understand your frustration but I don't think the government will do anything about it - I'd say hang on in there though because the change in the market will mean that investors can get better returns elsewhere, and so the numbers of buy to lets should decrease substantially. For people looking primarily for somewhere to live, it doesn't really matter if projected house price growth slows to 4%...but for investors, it means that easier money is to be had elsewhere - and without any tenant or upkeep hassles.
foxylady said:tax them higher .
foxylady said:When are the government going to clamp down on investors if at all because they are really making life even harder for us first time buyers
RainyDay said:The reason why is of course because if they did so, the builders who fill the FF tent at the Galway Races would stop lashing out the donations that keep the party going. Happy investors = happy builders - Not too many political donations coming in from First Time Buyers, I guess.
Of course, the Govt could simply even the playing field - and cap or restrict mortgage interest relief for investors in the same way that it is capped for residential buyers. This would stop the current obscenity whereby investors use interest-only loans to ensure that the Govt effectively subsidises the bank interest for them.
I'm guessing that you're referring to my Labour party membership, but I'm not clear why this would be seen as a 'vested interest' in this (or any other socio-economic matter)?ClubMan said:Might be no harm if you declare your vested interest in this context for people who might not be already aware of it?
Unregistered said:but didn't the previous attempt to tax landlords at punitive levels after Bacon II just result in huge rent hikes, and landlords not declaring their rental income ?
Actually no, I have no vested interest - no more than any other citizen. I'm not going to get a bonus payment, or a job as govt advisor or any other explicit benefit directed at me. Of course, I will share in the benefits (as will you and every other poster here) of having a Govt that aims to treat all citizens equally and ensure every citizen has a fair chance at building their own success. But I wouldn't consider that to be a vested interest - as it is not specific to me.ClubMan said:Without meaning to sidetrack the substantive discussion, I think that this information is very relevant in the context of your earlier attacks on the Government in general and FF in particular. As a member of an opposition party presumably you have a vested interest in removing them from power?
RainyDay said:Of course, the Govt could simply even the playing field - and cap or restrict mortgage interest relief for investors in the same way that it is capped for residential buyers.
foxylady said:When are the government going to clamp down on investors if at all because they are really making life even harder for us first time buyers as if it wasnt already hard enough. I recently was to view a house and got a call back off the auctioneer to say it was sold to an investor who offered 10k over the asking without even looking at the place. Two days later i tried to look at another property that had just gone on the market and same thing had happened.Talk about frustrating
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