"Reluctant landlords" should be facilitated

[balmed out]

Why would they not be able to sell their home?

Only 2 reasons so far as im aware.

1) The bank wont let them as their in negative equity.

We do need to do something about this either adding the negative equity to a new house they buy or transfering itinto a personal loan. Its ridiculous that an unemployed person cant sell up if offered a job on the other side of the country.

2) They are asking for too much for their house.

People need to have realistic expectations. Plenty of homes are being sold and quickly when priced appropriately.

 

[elcato]

How would such a scheme work if the reluctant landlord moves countries? For example I may need to move back to England next year and will not be able to sell the house without incurring a substantial loss. So if I do this I would likely rent out the property and pay the difference from savings and my future earnings, whilst also renting a flat in England. Would a scheme like this benefit me in such a situation, or would I be cut loose by choosing to move abroad?

Interesting. But I would allow the same rules apply as long as you were not to buy elsewhere. This would require further checks which may or may not make it cost effective depending on how much work is required for revenue to make the relevant checks.

Why would they not be able to sell their home?

Only 2 reasons so far as im aware.

1) The bank wont let them as their in negative equity.

We do need to do something about this either adding the negative equity to a new house they buy or transfering itinto a personal loan. Its ridiculous that an unemployed person cant sell up if offered a job on the other side of the country.

2) They are asking for too much for their house.

People need to have realistic expectations. Plenty of homes are being sold and quickly when priced appropriately.

You are going off topic. Please discuss this topic and not other schemes or solutions.

 

[waxy]

Interesting thread.

As a person living with his wife and child in a one bed apartment I would be interested in any solutions to this that are being proposed. At the moment we cannot move as our apartment is worth around half what we owe on the mortgage and to move would see us hit with rental income tax etc etc as well as losing our tracker mortgage.
We would hope to have one or two more kids before it's too late too so are in very sticky situation. All we want is to move out and rent a two or three bed place.

Did anyone hear any talk about this since from government circles or elsewhere?