Boris Johnson has pledged to change stamp Duty procedures which could see them being scrapped for property under 500k. This would be good news for landlords and might revitalise the buy to let market. Certainly if he reverses the tax changes aswell.
Though of course it’s worth remembering that changes to SDLT (aka stamp duty) - including to the higher rates for additional properties - only apply to England and Northern Ireland.
It’s also worth remembering that Boris Johnson will say literally anything at this stage if he thinks it will make the other tories vote for him
Something like 0.5% of homes in London are long term empty, I’m not sure making those available on the market would have a huge impact on property prices overall.
A world exists outside of London so a change in the stamp duty tax would help people like me out a great deal so i would welcome this. But like Dave says above Boris would say anything I just hope he’s a man of his word as he’s likely to win the premiership.
Watch from the 9minute mark.
Real Estate rental income vs. Stock dividend income
Around the 19 minute mark where he talks about auto reinvest, is more or less what I’d like. His broker, M1 Finance’s portfolio balancing looks very helpful.
I watched but wasn’t sure of the point. What was your key takeaway?
Subletting is also a real issue in PCL.
I have personally had the displeasure of dealing with various ‘companies’ attempting to rent our properties for their ‘employees’ which you will later discover are being advertised across Booking.com for extortionate rents to unsuspecting Tenants.
Is that actually such a big problem? Can’t you make serious cash doing these kind of short-term lets?
It’s a sublet and often not permitted within the terms of the lease.