Old Conservatives don't understand

[gant]

After the tenant pays rent for 25 years:

1) the landlord has an asset value of a house

2) the renter has FA

More fool the renter.

 

[motorbiking]

Surprising how he needed that explaining.

Because it's not true. At today's interest rates the landlord will need to put 60% in to cover his costs.
You also seem to be treating sold off council houses as if they disappear. They don't.

 

[aveatry]

Its time the gov took the boot off landlords necks as everything they do to attack landlords in an attempt to get votes just puts the rental cost up for tenants.

 

[JohnD]

How on earth can right to buy a council house translate in to compulsory purchase of privately owned property.

I did not differentiate.

You want owners to be forced to sell their property at half price.

 

[carmanmemoranda]

More fool the renter.

Great. If....

The renter could get a mortgage

 

[carmanmemoranda]

Because it's not true. At today's inter landlord will need to put 60% in to cover his costs.
You also seem to be treating sold off council houses as if they disappear. They don't.

The landlord has his asset paid for by his renter.

If he didn't he wouldn't rent it out.

Council houses don't get replaced in any where near the numbers sold off.

 

[Notch7]

More fool the renter.

thats a typical attitude of somebody who is not trapped in rent

it shows exactly who you are

 

[gant]

thats a typical attitude of somebody who is not trapped in rent

it shows exactly who you are

Every case is different and should be judged as such but in this case you said somebody renting a place for 25 years.
All I say is don't get envious of the landlord pocketing your money after 25 years.

 

[motorbiking]

The landlord has his asset paid for by his renter.

If he didn't he wouldn't rent it out.

Council houses don't get replaced in any where near the numbers sold off.

I invite you to do the sums with a BtL mortgage of 6%.

A 245k flat renting for £1,000 per month with an additional £200-250 month maintenance, ground rent, building Insurance etc etc.

Having the same tenant for 10 years paying market rate is very rare.

 

[motorbiking]

I did not differentiate.

You want owners to be forced to sell their property at half price.

nonsense - stop being a troll

 

[aveatry]

It's a false narrative that everyone is "trapped" in rent there are plenty who choose to rent that could afford a mortage but do not want too buy, there are others who it suits so they can move for work and there are others who are in between houses perhaps recently split couples.
But anyway just like anything you rent its far cheaper to buy in the long run so why should houses be any different.

 

[Vinty]

Lets just walk this idea of yours through a little...

Council/Social Housing
- Points based system geared towards the most needy being prioritised
- Rents kept low or subsidised.
- Often long term or life long

Private Rental sector
- Rents based on Market forces
- No means testing
- Typically short term


Subsidised Private Rental
- Council Subsidises rent.
- Rent is low in exchange for guarantee

Then lets look at this "renters paying the mortgage" claim
take a £245k flat, with a £950-1100 a month rent
with a 10k deposit, the monthly mortgage is around £1,500 on top of that I have maintenance, ground rent, building insurance, landlords insurance and any costs for repairs. Thats another £200 per month.

Explain how the tenant is paying the mortgage?

Buy to let is a long term investment, if you borrow money to buy a property, the rent just washes the face of the loan, as rents and property values rise, if mortgage repayment rates stay stable then in years to come you should see the benefits.

 

[denso13]

so why should houses be any different.

They shouldn't be, that's the point. Some owners shouldn't be forced to sell to renters at half price while others aren't.

 

[Notch7]

Every case is different and should be judged as such

oh I see so when you said "more fool the renter" how were you "judging every case differently"

All I say is don't get envious of the landlord pocketing your money after 25 years

Im not, Im in the fortunate position to have a mortgage free property


you are completely ignoring the fact the are a lot of people who simply cant save enough money to ever get on the housing ladder so they are stuck forever renting

 

[Notch7]

It's a false narrative that everyone is "trapped" in rent

WRONG

nobody suggested that

it is however a simple fact that there are an awful lot of people who are trapped in rent

But anyway just like anything you rent its far cheaper to buy in the long run so why should houses be any different

thats not the point

what is the point is that houses are now far more unaffordable, so less and less people get the opportunity to ever buy


rent is now such a significant part of a persons monthly income they stand no chance of saving a deposit....because the rate they can save at is way below the rate houses are going up