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charles stevenson

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All the Government have said they will do is to 'listen' to the concerns of the consultation exercise, it would have been a naive assumption from those submitting missives to have believed that 'listening' would become 'stopping'. I would respectfully suggest that at the most the Government might do, and I stress the word might, is to perhaps delay or extend the phasing in of any changes - that's all. Since, for many years, landlords have had access to an incredibly and incredulously low rate of interest to grow their own assets, (along with home-owners I acknowledge) and have had rents underpinned by a minimum rent guarantee (otherwise known as Housing Benefit), the Government has had to act to introduce some measures to draw this method of printing money to a close. I appreciate that landlords and by association letting agents will consider this to be unfair, a tax-grab on the 'helpful' landlord etc, however, by introducing this policy, with at some stage undoubtedly a stronger capping for Housing Benefit, there will be a re-balancing of rental properties. Yes, I believe the recipients of Housing Benefit will come under pressure too, will everybody be up in arms if/when this happens? By this I mean, yes, some landlords who haven't worked their figures out will find it necessary to sell, however, surely they'd accounted for interest rate rises and that would also have reduced their profit margins in a similar fashion to the planned Governmental changes? Other landlords, however, will be watching and waiting, biding their time for when opportunities to purchase stock from those landlords appear. Truly we are moving into interesting times.

From: charles stevenson 12 February 2016 07:49 AM

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