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‘Why would anyone be a landlord?’ ‒ Star Letter 16/02/2024

  • 16/02/2024
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‘Why would anyone be a landlord?’ ‒ Star Letter 16/02/2024
Each week, Mortgage Solutions and its sister title, Specialist Lending Solutions, pick the top comments from our readers.

This week’s first comments come from the piece: No fault evictions to be banned by next election, Gove says

Arron190 said: “So, the ‘small minority of unscrupulous landlords’ are responsible for legislation to support a much larger minority of bad tenants causing many good landlords to leave the market?

“A client was renting to an awful family that screamed and swore throughout the night. Both mother and father were thugs, and the neighbours were terrified. Under the current law, they found the owner, who simply said they were not renewing their tenancy.

“Under the new law, they would have to put their names on the record against two thugs and hope the court case is heard in weeks and not months. Why would anyone be a landlord?”

Boris added: “They want to increase housing supply; but they have waged war on landlords. This on top of taxing rental income on turnover, instead of net profit. Truly bizarre how far to the left these Conservative governments have drifted. I never thought I would see a Liberal government in my lifetime; but here we are.”


‘Lack of infrastructure’ reason brownfields undeveloped

This week’s next comment is in response to the piece: Councils ordered to make it easier to build on brownfield land

Arron190 said: “The reason many councils resist is because of lack of infrastructure. Developers have been building for years and either defer infrastructure to post-completion of the housing or pass over cash. However, the areas can suffer problems with congested roads, lack of school places and no local doctor.”


Stamp duty is ‘iniquitous form of taxation’

The final set of comments come from the piece: Appropriate homes will move dallying downsizers, not a stamp duty giveaway – Wilson

John Emmett said: “Stamp duty is an iniquitous form of taxation and a barrier to mobility in the job market and downsizing. If the thresholds were increased, or the tax even dispensed with, there would be an increase in turnover in the selling and purchase markets, which would benefit all.

“Downsizing was an option 10 to 15 years ago, but no longer. In this part of the world, near the sea and New Forest, when a bungalow comes onto the market, invariably, they are purchased by developers.

He continued: “Next, it is stripped, with one wall left standing and then rebuilt with bedrooms on a new first floor and the ground floor converted into an open plan living space. The property then goes back on the market. The price is often more than double the price originally paid, and given the location near the sea, sold within days. These properties are more expensive than established detached houses just further back inland.

“Large old houses are pulled down and apartments built. Again, these are very expensive and not much cheaper than houses. Car parking is restricted to one space or, if lucky, a garage per apartment. Not all retirees want to give up their cars.”


The comments here are from our readers and do not necessarily reflect the views of Mortgage Solutions and Specialist Lending Solutions.


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