Renters & Landlords: What Is Going To Happen Now?
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- Опубликовано: 7 авг 2024
- In this video, we dive into the impact of Sir Keir Starmer and the Labour Party coming into power after a 14-year Conservative government on renters and landlords. What does this political shift mean for the UK housing market, property investment, and the future of renting and owning homes in the UK?
Join me, Will Gale, as I break down Labour's key policies affecting the property market into three sections:
1. What did Labour Declare They Would Do?
2. What Effect Will These Things Have on the Property Market?
3. My Personal Opinion
With over 10 years of experience in building a UK-wide homebuying company, a nationwide estate agency, and managing my personal property portfolio, I bring you insider knowledge and expert analysis on the following key points:
Labour's Corporation Tax Cap
- Building 1.5 Million Homes
- Increasing Stamp Duty for Non-UK Residents
- Reforming Private Renting
- Rent Controls
- Helping First-Time Buyers
- Regulating Holiday Homes & Short-Term Lets
Will these policies benefit renters and landlords? How will the UK property market evolve under Labour's rule? Watch to find out!
🔗 Additional Resources and Links:
🏡Want me to buy your house?►
britishhomebuyers.co.uk/
🔑Want me to sell your house? ►
britishhomesellers.co.uk/
💰Need help with financing/mortgage?►
britishhomesellers.co.uk/refe...
⚖️ Need assistance with solicitors/conveyancer?►
britishhomeconveyancing.co.uk/
📱 My Socials:
📸 Instagram - / williamgale
🐦 Twitter - / gale_william
👨💻 Linkedin - / william-gale-8a92b916
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👋 Who am I?
My name is William Gale, and I’m the founder and CEO of The British Home Group of Companies. Curious to learn more? Check them out above! I took the leap into entrepreneurship in 2012, quitting my job to start my first company and I haven’t looked back since. I hope you find my content valuable & if your interested in videos about Finance, Business & Entrepreneurship check out my personal RUclips Channel Below:
/ @thewilliamgale
CHAPTERS:
00:00 Introduction
01:27 Corporation Tax
04:37 Get Britain Building Again
09:03 Stamp Duty
10:42 Reforming Private Renting
12:24 Rent Controls
13:04 First-Time Buyers
14:22 Regulating Holiday Homes
![*SUPER RARE* THE PARADIGM IS BACK?!?!? Fortnite Item Shop [August 6th, 2024] (Fortnite Chapter 5)](http://i.ytimg.com/vi/ru6xSH1RaPw/mqdefault.jpg)
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I think house crash is already happening and Landlords leaving is because all those people who bought homes over asking price, although it was at a low interest rate, they are over their heads. They have no equity if the housing prices continue to go down, and if for whatever reason they cannot afford the house anymore and it goes into foreclosure because even if they try to sell, they will not make any money. I think this will happen to a lot of people especially with the massive layoff predicted for now/future and the cost of living rising at a high speed.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
You are right! I’ve diversified my $150K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $340k in net profit across high dividend yield stocks, ETF and bonds.
@@LucasBenjamin-hv7sk Do you mind sharing info on the adviser who assisted you?
Do you mind sharing info on the adviser who assisted you?
The advisor that guides me is Annette Marie Holt, most likely the internet is where to find her basic info, just search her name. She's established.
Ditch the background music please.
Agree!!
Will do next time! Sorry!
Agreed,
It's annoying and hard to focus,
No problem. I will fix that for next time
Agreed
Labour have been the most ineffective opposition I can recall . . . . What makes anyone think they will achieve any of their policies!
Er..............a majority of over 200 in Parliament? Which effectively means they can push through any bullshit policy virtually unopposed!
Agreed. Agree or disagree with labour. They have the strongest influence in parliament for generations right now
just watch you'll see
Agreed. Let’s see how all plays out.
Labour under Corbyn had a record for blocking tory policies, then the 2019 election gave the tory government a strong mandate to push what they wanted through so obviously Labour then became an ineffective opposition as their hands were tied, until now
Don’t normally comment, but to blame the lack of housing stock solely on Maggie Thatcher is incorrect. Yes she did reduce the housing stock by the terrible idea to sell off as much of the social housing as she did, but the catalyst to the downturn of building was labour in 1974 with the town and country act. This effectively nationalised building and tied it up in so much bureaucracy, it is almost impossible to build freely. 1960’s lots of houses being built, 1980’s nothing, in the middle the 1974 town and country. Yes, I know this was originally boring into law in 1947, but when labour changed it in 1974 they effectively nationalised it putting us in the situation we are in today. They try to amend planning her and there and change other legislation, completely ignoring that no matter what they do, this act will continue to frustrate the building process. And it would seem that there are no plans to address this, as labour never do.
Just my two pence on the housing crisis
I really appreciate the comment. I wasn’t aware of this. I’m going to look into this further and might do a video sharing this. Not something that ever came up in my radar!
Makes complete sense!! Thank you 🙏
Good to hear the counter argument of the past history. I think it is good to keep building and still give responsible tenants the right to buy if they can afford to keep up with the mortgage. We need to keep a mix economy of housing stock from private to public sector.
Agreed 💯
What's the point in building loads more social housing over 5 years to 1.5 million homes, when over that same period the open door migrant policy is likely to reach the equivalent number. And Labours policy is to instruct local councils to accept migrants and assign them into social housing units. The net effect will be loads more foreigners in the country taking up housing that should be allocated to UK nationals. So the net effect for UK residents is zero!!!! And the net effect on the property market will also be zero. As a nation our private homes will be still be way over priced and woefully short on stock.
If it unfolds like this it will indeed be frustrating.
im sure the increase in migrant workers is much more responsive to job vacancies than to social housing availability since you need to prove an income for visa. Social housing is managed by need with a waiting list, thus you cant migrate to the uk for work and get a council house when you arrive. If labour meet their targets they will still just be making progress with the existing social housing waiting list (existing residents). Refugees are and should be offered council housing. However the flow of refugees isn't very significant compared to this number of houses labours looking to build.
Agreed 👍
If they need someone naming the streets on these new housing estates I can suggest a few.
"Zulu Avenue"
"Sudan Close"
"Taliban Road"
Why?
@@BritishHomeInvestors the new houses won`t be for us. My city has been transformed in the last few years. Labour will finish it off.
Which city?
@@BritishHomeInvestors Lincoln. Even my mates working here from the EU ask me what I`ve done to my city lol.
Oh dear. I guess we’ll have to see how things develop over the next decade.
What’s with the music has someone died?
The Conservative Party: With deepest sympathy.
🤣
😂😂😂
😂🤣
🤣😂
So if I have tenants who live in my property and decide to stop paying rent which I then have to cover, is anything stopping me renting a proper myself and after a few months stop paying rent and live rent free for 2 years before I get kicked out? Seems like we should all do this to highlight the issue we landlords experience?
Your raise a good point. Which is the eviction process, even with section 21 can take 3 months minimum. When section 21 is removed and we rely on section 8 the process is going to take even longer.
Theres no possible way to build enough homes to keep up with the pace of the growing population. The public sector will soon run into the same lack of skilled labour, materials and land issues the private sector has faced for a long time.
Interesting point you make about having enough skilled labour. It will be interesting to see if that becomes the bottle neck, not planning.
on the optimistic side im sure each skilled labourer that comes to uk to help construction can build more housing than it takes to house them.
💯
Currently if a tenant owes rent in arrears it doesn't affect their credit rating which is grossly unfair, given mortgage defaults will adversely impact the landlord's credit rating...
I agree. It needs to be balanced
Don't take out a mortgage for places you can't afford.
@@inverseriina4622 Thats irrelevant...No landlord takes out a mortgage for a free loader tenant to live in, rent free
Exactly. A lender approves a mortgage based on the forecasted rental income. It is the economics of how a buy to let mortgage is underwritten.
@@inverseriina4622 You sound bitter. People’s circumstances change hence why they unfortunately miss payment, surly you can comprehend that.
5:18 so 1.5 million new dwellings over 5 years, when the uk has net imigration of 700,000 a year? Assuming 2 people per home, we will need over 1.7 million new homes, just to keep up with imigration.
It is like "running the taps" without putting the plug in. 😊
700k isn't it more like 1.3 million last year
True true. It is one piece of a wider picture.
@@BobBuilder-mq9wr I would need to look it up. I think it is an average of 700k per year, NET over the last five years. And if you think that that number is going to fall under labour. Than as they say in the USA, I have got a bridge to sell you.
Agreed. I guess time will tell
That's just the houses. Now think of the infrastructure needed for all those people.
The domestic birthrate has been declining for years all population growth is a result of mass immigration. We currently cannot keep pace with current level of immigration.
Agreed
Good content but.. What’s with the cheesy piano music, hardly a good fit to this topic.
Sorry! I’ll improve that for next time 🕰️
Great video! I really do have a question. For someone with less than $10,000 to invest, how would you recommend we enter the crypto market? I am looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach?
Investing in stock and crypto is a good idea, a good trading system would put you through many days of success.
the first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional
b
All You need an professional trader and expert broker else you will lost your money
As a beginners who doesn't understand how cryptocurrency work i will advise you to work with a professional trader, if you want to make portfolio
That's is true, you need an expect broker and professional trader to handle your trading and make profits
Whilst giving them to non British
Bravo
What do you mean? I’m not sure I understand? Sorry!
@@BritishHomeInvestors Social housing is allocated on a points basis. If you've just stepped off a boat on a beach in Kent you are homeless, which will give you a massive amount of points allowing you to leapfrog UK ppl who have been waiting patiently for years to get social housing.
Oh I see. That is frustrating
@@jonathanjonathan7386and that’s treachery
Incredibly so.
Also the air b&b has taken huge stocks of the market and limiting the time they can be used ,also halved available . In edinburgh students rented the flats at lower rates but in the holidays they used to be rented out to tourists at a much higher rate , so students were happy as were the tourists. So two usages and only one flat. BUT NOW you can only air B&b for three months a year MAX, and it cannot be used for anything else . Students by law MUST rent and pay for one calendar year ( even though uni is only 36 weeks and they want to go home . ) so flats sit empty but cannot be rented out ????? How mad . So to cover the same market you need two flats instead of one….. this is the MAD policies in place to push small landlords and LTD property businesses out for BIG corporations .. not to mention insurance went up three times this year!
I agree. This is mad that something that worked well is now unable to happen and worsened the situation for students!
Thanks for sharing, very powerful information. Thank you!
🙏
Thank you for the update and insight into the property situation with the new government. We just need to wait and see if they keep to the promises. I am ok with all but the plan to allow tenants to make changes in the house. Could be a big cost to allow the changes. Especially when tenants leave without rectifying the changes.
Some bad tenants leave a month before and don’t event give chance for handovers
My pleasure. Thank you for the comment!
I agreed, will be good to see how these changes play out in practice. The devils in the detail.
i started as a hod carrier in 1983 im still a bricklayer now, what none of you seem to understand is there is nobody to build these houses, why would anyone want to be a bricklayer, no holiday pay no pension no wages when it rains no thanks for working hard having a bad back ,if this doesnt change then less and less houses will get built
I completely agree. I think bottle neck will be actually getting the work force to build the volume.
My hope is when they discover the bottle neck the solution will be to encourage a generation to get into the building trade?
And probably 50+ civil servants with very nice pensions needed to monitor the actions of every bricklayer out there.
Blimey I hope not 🤣
Great video, very informative, thank you.
My pleasure. Thank you for the comment 🙏
Labour last time promised to build new schools but never did, all they did in the 13 years was make a plan to build more schools, then blamed the Conservatives for not carrying out their plan, so dont build your hopes up for 1.5 million new homes
These won't be building social housing. Another deguised tory that's all.
No help for the poorer to live and have a roof over people's head. No Hooe. Waste of time building unaffordable housing for majority of people. All this will do will create more homeless. . How can this improve the country??? Unrealistic!!
Labour unrealistic expectations.
No differant to tory really.
Unless they are going to build social housing not private unaffordable housing its unrealistic.
Great insights, if you could remove BG music please ❤
Thank you. Will do!
Renting prices can NOT continue its beyond a joke and out of control!!!
Demand & supply
@@BritishHomeInvestors Yes. Restricted supply . We have enough houses, they're just not equally distributed. If ownership isn't regulated, we'll still have a housing crisis no matter how many homes we build.
Agreed 👍
@@jaycam2886
Renting is not out of control.
The latest figures have proven that the market has indeed been the best regulator of rents.
Rent levels have declined or stopped rising.
This is as a consequence of tenants being generally unable to afford anymore rent increases.
So the market has found its own level.
Potentially as wage increases occur there maybe scope for further increases.
This is unlikely in the near future.
The PRS is effectively taking a bit of a breather.
The main issue now is not rent affordability it is that of few properties available to rent where people want to be.
That won't be fixed indeed exactly the opposite as even more LL are selling up
There are currently 18% more tenants looking for properties than pre-covid levels and 33% less buy-to-let properties available to rent.
Beautifully explained, thankyou
My pleasure. Thank you for the comment
Why go after landlords you'll just get higher rents. If you want to fix the market you need to build more social houses and it has to be built by the government not developers. Or if you want to be radical reverse the damage done in the 80s/90s and compulsory purchase back all old social housing that was sold off for pennies in the pound to your grandparents.
Compulsorily repurchase. No "back" needed. 😁
Agreed. We need to build more
@@BritishHomeInvestors No. We need fewer people in the country. No country, not even one as rich as the UK can build the infrastructure needed for a whole city, the size of Liverpool, every year. It's completely unsustainable.
Clearly illegal immigration is a problem.
There are some very silly comments on here and th a it a probably the best... So just a few points.. So if a person bought their council house and several years later sold it... You are suggesting that the new owner should lose their home, who will pay for your suggested cpo? As the local authorities would have to pay the market value plus compensation so it would probably be cheaper to build new..
Housing for foreigners. Don't agree with making it hard to terminate a tenancy for non payment of rent.
Agreed. Doesn’t sound fair
thank you. you are like a teacher^0^
Thank you 🙏
There a famous quote from a MP by the name of Rab Butler who said to Harold Macmillan; EVENTS DEAR BOY EVENTS, Boris seemed invincible until Covid came along, we will soon see how good Labour is when they have to face their first crisis, complaining is easy but solving issues is much harder, this is when you find who can walk the walk rather than just talk
Fair point.
Atm is still the honeymoon periods
Will be interesting to see how things go when pressure hits. Very good point
Hate that piano music in the background because we weren’t able to concentrate what you were talking
I’m sorry! I’ll change that on the next video
Massive thank you to mrs thatcher. I wouldn’t be a home owner now if it wasn’t for her. My poor council house tenants were given the opportunity to do better. Mrs thatcher has been dead and no longer in government for a long time. Scap goat Margaret
I’m a fan of the late Thatcher. Astonishing what she achieved.
End of Section21 is an absolute joke. I would never ever rent out a property again. It will be IMPOSSIBLE to ever get it back.
Thanks for the comment.
Section 8 will still exist.
As I understand it a private landlord can transfer a property into a ltd company but would have to pay stamp duty. If it is gifted would stamp duty still apply ?
Yes that is correct. Any transfer of ownership, even as a gift would be subject to stamp duty.
Unless you have 6 property then you become a professional landlord and can save on LTD.
Thanks for the comment. What do you mean? Eg owning property through a ltd company?
The manifesto is not there in description as mentioned in the video, add it.
Sorry, I forgot to add. Please see attached below
labour.org.uk/change/
A great job as always Will.
It would be exciting to get a glimpse on your property puchase process in one of your future videos
Thank you 🙏
Absolutely will do 👍
And why will a lender lend you mortgages funds to buy a rented unit where the tenant can mess about with their security...???
It certainly adds risk. If risk on lending increases rates will increase
Not in a million years will labour fulfil their promise.
They said freehold was going to be an abolished.
in a nutshell, they will do absolutely nothing all promises, promises, promises
Time will tell.
I understand as we’re all so used to being disappointed by promised never kept.
I glad brought a small house in north. I have decided not to upgrade it too much and assess
Makes sense. Good idea 👍
I’ve been a landlord since the 70’s it was great then Blair screwed it up, I’m selling my portfolio and getting out, the tenants can tell the Labour Party they now need somewhere to live.
Thanks for the comment. Could you share for all what about the Blair years triggered the downturn for property investing? Would be great to get your insight 🙏
What they don't mention is that some tenants actually ask for a S21 notice because otherwise they cannot get help from local authorities who will say they are "intentionally homeless".
Agreed. That is true
Yes, this happened for me and currently I’m waiting for bailiffs
Silly it has to escalate in that way to avoid intentional homelessness.
How would their supposed idea of capital gains tax affect the housing market? They wouldn't rule it out despite being asked many times.
It will slow demand as it will reduce the funds homeowners can use to upsize or downsize.
Slowing demand will slow price growth.
I think it’s more logical to increase stamp duty on 2nd homes. That will raise capital whilst not penalising day to day home movers.
What do you think?
@@BritishHomeInvestorsI’d like to see it on a sliding scale based on average house prices in the area you buy in. For a primary home there should be a lower stamp duty. For secondary homes and property investors much heavier stamp duty on a sliding scale relative to the number of properties you own to discourage full time buy to let landlords.
Most investors are snapping up starter properties. More people owning less rentals needed.
If you want to run a business, run a proper business that adds something to the economy. Houses should be homes.
I agree. Property investing should be about adding value. Not buying and just renting.
It needs to be about building new homes. Improving properties etc etc.
adding value should equal reward.
That should be our goal.
@BritishHomeInvestors
Absolute twaddle you spout.
Are you some sort of Communist!?
Rental properties are not homes.
They are property assets owned by an investor to make as much profit as they can.
Anyone wants their own home they can buy one.
LL offer accommodation services which can be withdrawn anytime the LL wants.
If that makes the tenant homeless........TOUGH!!!!
ALL tenants should know that their tenancy is in the gift of the LL which can be withdrawn anytime.
These landlords will have to clean up their acts housing people in damp and mold flats if people complain given notice to leave
Well presented sir……..if only we had politicians who were as fair honest and unselfish as yourself we would doubtless be in a better position as a nation . I don’t know why some commenters get hung up on the music, your presentation was very interesting and I didn’t even notice the background sound.
Thank you. I really appreciate you comment 🙏
I do try hard to give a balanced realistic view on things.
@@BritishHomeInvestorsI was really enjoying the music, shame there was some dude talking at the same time. 😂
@@BritishHomeInvestorsHowever from 5:04 onwards that info is seriously enlightening
Thank you 🙏
Glad you enjoyed it
Brilliant ❤
Thank you 🙏
cant see the house building boom happening as we don't have enough builders
I agree with this. I think this could be the bottle neck.
What about awaabs ruling that would deter me from becoming a private landlord . Tenants will be at it. And it will be another layer of admin costs with opening files etc .
It will certainly force properties of poorer condition to be sorted. It will add cost but I personally think as a Landlord we shouldn’t be renting homes in such condition. It’s not right.
Anything that helps reduce renters costs has to be good. My rent is 50% of my salary and in the last six years I've had two section 21 notices. I now live in substandard accommodation which I hate. There is simply a lack of properties to look at with a dozen or more people after each one. The situation will get worse before it improves.
I’m sorry to hear that and I agree. It unfortunately will get worse before it gets better.
The key is building more homes. It’s that simple and I hope that is achieved
@@BritishHomeInvestors build more and slow immigration
Agreed 💯
Agreed 💯
@@BritishHomeInvestorsthe key is to shut the borders ffs!
If we still had a third as social housing, who would be the main occupiers? Surely it would be new arrivals to the UK, as levels of net migration are at record levels. Would building 1.5 million homes make much difference if the same levels of net migration continues?
Good points. It all helps soften/balance supply and demand pressures but agreed, at these volumes it doesn’t solve the housing crisis.
Higher volume of social housing will remove demand from private landlords.
Higher volume of homes will increase supply.
Alterations for tenants need to ensure landlord consults with neighbours and legal documents and agreed and documented legally
That’s good to know thank you 🙏
The problem is the population has increased by 10 million since 2000, and furthermore, it is increasing by 1 million a year with no signs of this decreasing. Nothing to to with the right to buy policy.
Agreed, population has been growing fast, mainly via immigration
Insightful video, but would prefer no piano background music in future please
Thank you for the comment. I will improve music next time
Good clear commentary from you without significant echo off all the hard surfaces around you. Must be a quality microphone. Music is not appropriate for this serious subject. It sounds like the backing track for an emotional animal rescue story
Agreed, others have commented the same. I’m going to fix the music for future videos
To achieve properties built goal, they have to:
1. Simplify and speed up planning - no planning fees if it took over 2 months
2. Reduce or ideally remove minimum flat size requirement (currently 50m2 = 540sq ft)
3. Force builders to complete and release properties in a site in a fixed time - they currently build release slowly slowly over some years to maintain price increases
All great suggestions.
With removing minimum flat requirements, would you not be concerned it promotes the build of ultra small units?
@@BritishHomeInvestors Well, I lived in a small flat in Paris for some months, it was 18m2! Had a bedroom, bathroom, living room/kitchen even a lobby! Yes, it was small but enough and cheaper. I loved it, my guests always commented positively and loved it. Parties were more friendly :)
Like small cars, they use the space much better and become more creative when there is little of it to waste. We need more housing, a lot more and one way to get to that is to build smaller units and keeping cost lower. Let's leave the choice to the market. Rather than imposing a blanket 50 m2, authorities should look at utility and function in each project. If smaller flat meets the criteria, leave it to the market - if too small then people don't rent it and it stays out of use. I bet it won't :)
I agree. I stayed at an Airbnb in Paris which was very very compact. It was brilliant! I think you’re spot on with what you’ve written.
A lot of builders have gone bust because of governments you are not going to get them back .the big building company's have left to let the small have a go so good luck labour it's not going to work.
I guess time will tell.
I hope we solve this housing issue but in the same breath we’ve been disappointed time and time again by politicians
Perhaps you could address who will build this huge raft of social housing. I don't see cash-strapped local councils, suddenly switching back to house building?
Very good point. That’s yet to be seen!
The moneys there to build then. It’s the land! Concreting over the country isn’t a good idea!
Currently only about 10.5% of England is built up on.
It needs to stay that way
Why?
Found this hard to watch as soon as I saw someone mention the music
I’m sorry. I’ll improve the music next time
@@BritishHomeInvestors, no improvement please, do not put it at all !! I can bet if you redo this same video without music you would get more views than this viedo.
Thank you for the feedback. Helps me improve the next videos
Good content but please, please no music.
Thank you for the comment. I will fix that next time!
Not sure what kind of expert you are but you messed this one up with the music 😂
Haha, yes I certainly have messed up with the music!
The councils must pay full rent for oaps on low income as the DWP laws states .rather than using malign corrupt rules that don't exist.
Thanks for the comment.
I wasn’t aware of this. What are they doing to get round not paying full rent?
There are no guarantees
You cannot depend on other people to be a guarantor as life changes
Need a realistic way, supported and regulated by the government
I guess it gives people the choice. Won’t work for everyone
We should go and look at the German model its very regulated,very law driven and highly monitered, It seems to work well for landlords and gives tenants lawful enforceable protection.
Very good point
@tonyorwin-nt6um The German PRS is COMPLETELY different to the UK one.
German renters have to provide their own kitchen and bathroom etc.
That simply wouldn't work in the UK.
Plus after 10 years LL can sell free of CGT.
There is no way the UK PRS will ever replicate the German one.
I wasn’t aware of the detail to this. Very good points.
How should our system change to better experience for landlords and tenants?
Social housing needs to be built like the 40s 50s ? Affordable homes being built ? Affordable to who?
What do you think?
@@BritishHomeInvestors As a quicker means to get houses built, I have no objection to publically owned housing being built but I'd guess care must be taken to retain a viable private building sector. Eg if planning remains restrictive for the private sector but relatively easy for the public sector or if the public sector gets to poach excessive labour from the private sector.
I do object to public funds being used to build houses for long-term below market rents. Why would we want a return to a two tier rental market where the lucky ones are selected because at one point in time they managed to score enough points to be eligible for sustained subsidy even though their circumstances may well have changed? It doesn't seem like a good way to judge need, increases inequality among the poor and yields sub-market return for taxpayer investment. A terrible policy.
Very good points.
My understanding of labours plan is they want private sector to build the 1.5 million new homes but are setting local authorities minimum targets on planning for new builds they approve.
So they essentially can’t refuse everything, they have to hit quota.
If anyone has more detail please comment. But that’s my understanding
@@BritishHomeInvestors I've not seen it yet but a video from the IEA has just appeared on my right panel titled "Labour's Shocking Plan to Revolutionise UK Housing Crisis | IEA Podcast".
I'm sure I'll get some new insights there. It might be old news to you.
Excellent sounds like a plan. I’ll give that a listen too.
That was a really balanced review thank you
Thank you 🙏
Much appreciated
Informative but the silly plink plink piano background music is really distracting and annoying . Makes it unlistenable
I’m sorry. I’ll fix that for the next video.
🙏
👍
doubt they will make a good building plan older people will have home ownership and young people will struggle to get a council home as a renter i don't hold out much hope when our kids our adults and we are very old our pensions will be more like south Korea and that's probably likely when people start struggling to have homes and family's then immigration will be welcomed a lot more.
Time will tell.
Key is building more homes. Let’s see if that happens.
Background music is a hinderance ditch it !
I’m sorry! Thank you for the comment. I’ll improve for next time!
Government's don't build houses. Ever seen Starmer with a pick axe in his hand? They will want developers to do all the work but build more affordable units thereby axing their own profits... why would developers do this???
I agree, it’s yet to be seen if the private sector will be able to build the volume and as you mention, the portion of low cost housing needed.
There is no way they will build alot of social housing there far to expensive to build materials and labour with all new regulations also these houses will not last as long so the maintenance bill will just get out of control and it just gets passed on to the next government
I guess the question is will it be cheaper than the alternative?
Mediating music.
Thank you 🙏
Rents should be linked to mortgage repatments. Enough to cover mortgage (and whatever else is included eg insurance) plus a defined percentage on top for incidentals and costs.
If the mortgage is fully paid, then yes there should be a price cap based on the standard mortgage repayment and nothing more.
That is the documents that rent should be based on, not the will of the landlord.
As for evictions. Not paying rent, and not talking to the landlord for a rent repayment scheme, for more than 2 months should be grounds to move to an eviction notice. So long as the rent is within the parameters of above.
Interesting ideas.
What if a landlord doesn’t have a mortgage? Or has a smaller mortgage?
What if the landlord makes improvements the justify it renting for more?
Issues with rent caps have been that landlords aren’t incentivised to increase the quality of accommodation. They only have incentive to hit minimum requirements. So quality tends to go down.
It’s like putting a price cap on hotels. Why be a 4/5 star hotel if your capped on what you can charge
Rents should not be linked to mortgages. What you are arguing is protecting the landlords investment that they are protected from risk. Let’s add welfare support into the equation. Suppose the tenant requires state help to pay their rent, and the landlords mortgage payments go up, you want the landlord to be able to increase the rent. The cost to the state (taxpayer) then increases when the state support goes up. Effectively you’re saying the taxpayer should pay for the landlord to acquire this asset
Very good point 👍
Landlords will just sell up. Wouldn't blame them. Renters have rights but also responsibilities. If someone is not paying rent or is being antisocial etc why can't they be told to leave. You wouldn't go into a shop and then refuse to pay.
They can but it involves a legal process.
s21 abolition is NOT a sensible idea ! If i cannot secure the return of my property when i WANT it, then i will not increase my rent to make myself feel more secure............ I WILL NOT RENT IT OUT. I had 5 properlties, i have sold 4 now, and the last one will be gone this year........... ADIOS BTL.
That is understandable. The volume of buy to let properties has been dropping ever since the 3% extra stamp duty was introduced 2016. Then we had section 24, then the tenant fee ban, now section 21. It is certainly getting harder for landlords.
@@BritishHomeInvestors Being able to obtain vacant possession of your property is utterly key to having confidence in the market, all the other things simply impact profitability....... not being able to acutally get back what is yours...... that is END GAME. Nice video by the way, very easy to understand for those who may not be investors. Let us see how Labour do..... fun times :)
Thank you. Really appreciate the comment.
Time will be the judge and I want to believe things will change… but my concern is it’s going to take more than 1.5m homes over 5 years being built to solve things.
You may be keen on house building but are you aware that migrants will be given priority access? It seems, for a country that is broke, a lot of money borrowed then locked away in bricks and mortar when what we need is investment in making and selling products to push Britain plc back into profit. We have not made a fiscal surplus (profit) for 23 years
I wasn’t aware, how so?
I agree we need to get Britain exporting more than it imports.
@@BritishHomeInvestors The UK is signed up to the UNHCR refugee resettlement program. Those with "refugee status" have a right to safe and affordable long term housing. That in practical terms means a council house
Very interesting. I’ll look into this.
Do you know the real volumes this adds? In terms of numbers that are actually on such list?
@@BritishHomeInvestors My lodger was in charge of a large housing scheme many years ago. She says it was always the case that refugees got priority. I have no idea how many council houses are occupied by refugees but this has been going on for a long time. i.e. "With a deep-rooted history of support, the UK has stood alongside UNHCR since 1951, serving on its Advisory Committee and a founding member of its Executive Committee since 1959"
Thank you for this insight.
It’s a decent thing we’ve done this. But we’ve concurrently not done a good enough job building enough housing to make sure it doesn’t negatively impact our population.
In a way, giving to charity at the cost of feeding one’s own children.
Music is louder than your voice, difficult to understand
Sorry & thanks for the comment. I will improve on next video 🙏
Extend right to buy to private rental sector . Government to give intrest free mortgages to people on benefits. For married couples with 2 children. Christian marriage.
Why just married couples? Or Christians? Why not anyone or couple with children?
yeah it’s a hard listen 2 mins in i hat to cut it off making me fall alseep
I’m sorry to hear that. I’ll try and improve for next video
These changes will completely bugger the market up......thousands of landlords will leave the market and much fewer Landlords joining the market.....you are wrong !
I may be.
Perhaps now renters can stop paying 50% of their income to landlords? Medieval peasants only had to pay 10% ffs!
Earn more money or buy a property
@@spokes1018You have to earn more money in order to buy a property and wages have been stagnant for decades. The vast majority of UK residents have less than £500 in savings because the inflation rates since 08 has left them behind meaning most people live month to month. The odds of someone in that position being able to save the amount required for a deposit whilst still having to pay rent is nearly impossible.
perhaps if landlords are taxed fairly and bank interest rates come down landlords won’t have to pay 110% of your rent in tax and interest. Go figure!
Looks like rents will go up due to labours new rules.
Not one of my tenants could qualify for a mortgage there’s always a reason people rent it’s by choice or it’s because it’s the only option,, my rents are reasonable not medieval, and I work my arse off every day there’s always something needs fixing, and I treat my tenants good, and my mortgage provider better, you wouldn’t believe how much it costs to buy a property to then spend lots of money on to refurbish, it’s not an easy job and most people hate us, but where would all the millions of people live if there wasn’t any private landlords,
No music please too distracting
Thank you. I will fix that for future videos
building
Build baby build!
I mean, landlords usually don't do anything a reasonable tenant wouldn't do themselves. Why would we want them to be incentivised to exist?
Would you suggest we have no buy to let sector at all??
Do you have any idea why rents have skyrocketed recently?
Because the Bank of England raised interest rates which caused most landlords to sell up and the others to raise their rents to afford the mortgage payments.
The same landlords that can’t put much of any of their expenses against taxes so they make even less money than they made before.
Without landlords, people wouldn’t have homes.
I appreciate there are some bad landlords out there but they shouldn’t define your perception of all landlords. Many landlords help tenants through tough times.
Every year average rents increase by more than inflation. The increase in base rate is a reflection of inflationary pressures on the economy. Landlords increase rents because they know people have to pay it to exist. It's just worse the last few years because overall inflation has been so high.
Claims of tax woes are laughable. Landlords enjoy ample deductions and benefits. Tenants get none.
Landlords don't create homes; they hoard them and inflate prices, making housing less accessible..
Landlords extract value without real work, draining tenants’ incomes and stifling economic mobility. Tenants pay their landlord's mortgage + more for the privilege.
Defending landlords is a farce. They exploit the system for profit, leaving tenants to suffer. We need fairer housing policies.
@@BritishHomeInvestors not in the way that we do now. Shouldn't be run for profit. There have been lots of successful charitable organisations that offer social housing.
Main issues with landlordism are: you drive up housing costs by making housing into an asset to make profit from. This puts more demand on housing, driving up price, leaving those without capital to pay rent.
House price to income ratios have skyrocketed over the last decade, it's not just poor or fiscally improper people who can't save for a house.
Also what work do landlords actually do?
Landlords do not pay their own mortgages, their tenants do. Landlords don't pay for repairs or maintenance of property, their tenants do.
You might argue that landlords help to improve properties by buying them and doing them up, then renting them out, unfortunately the work they do stops once they've done up the place. They're then just holding onto unrealised capital gains and getting someone else to pay for the running costs of their investment.
@@BritishHomeInvestors I would really be interested to hear what works you think landlords actually do that a reasonable tenant wouldn't already do? When my boiler breaks down, I'd rather call the gas man myself and get it sorted. Rather than call the EA who calls the LL who calls the gas man etc..
House prices and rental are just greed
Do you not think it should be a free market?
@BritishHomeInvestors real world affordable housing and renting how can say a bungalow that was sold in 2000 for 45k now worth 200k that is greed and madness there should be a cap placed on rental prices for a start and house prices should drop substantially alot of of it is driven by siblings who have inherited a house and never purchased it or siblings who take out equity of a living parents house to then buy into a huge mark up system a bungalow next door to me practically derelict went for 160 k and yet it sold madness
If we build more homes to keep up with demand will that help?
@BritishHomeInvestors only if real word affordable and well built and not rabbit hutches but you could never build enough to keep up with demand with the amount of immigration at the moment I think compulsory purchasing of existing empty housing stock will help
Fair points. Empty homes makes up about 1% of uk property atm
Please when quoting immigration figures , be more precise.
The actual number of immigrants arriving in the uk was in excess of 1.2 million last year and over a 1.1 the year before.
Your 700,000 is the nett figure. I believe 745,000 was more like it.
While people struggle to find homes to live in. The government can say we need this immigration to grow the economy but for who? What’s more important to the average man or woman.
Yes correct I quote the net figure because we also have people that leave the country. I’m unsure not including that makes the figures less precise? Could you clarify please?
@@BritishHomeInvestors
I refer to your earlier post where you say the the current level of immigration is 700k. You don’t mention nett.
I just think it’s important to say it’s nett if you’re quoting the nett figure. MSM. Does this all the time , amazes me how many people don’t know the true figures and I believe they should.
Cheers.
Enjoy your posts btw
Thank you for the clarification.
That makes sense. I will make sure to make clearer in future videos 🙏😃
Starmer said he will put DAVOS above parliament. Are you not aware, that banks are buying swathes of houses, giving landlords encouragement to sell their properties to them. In turn making themselves landlords.
Yes, there are some enormous companies setting their sites on uk property investing.
On the basis we won’t build enough to offset supply. Making it a safe longterm investment
@BritishHomeInvestors we can't build! There's no infrastructure! They are treating us like idiots. There were supposed to be 2 large housing estates near me, can't build them because of lack of water etc. Gosh it's getting so silly. When I see in the North there are rows and rows of deserted housing, that might be able to be pulled down and start again, making them suitable for families. What a terrible waste.
Oh dear I agree. That sounds frustrating. What’s the solution?
@BritishHomeInvestors is it the conditions of contracts to revitalise these homes? I mean health and safety rules are mad enough! From what I can gather it's the planning departments . Some of won't allow some developers to convert the houses from 2 up 2 down into proper 3/4 bed homes by knocking through two houses into one. It's flipping crazy !
That does sound silly. So I guess key is modernising planning process?
Chickens in chicken coups with with maximum taxation and lots of new wonderful diseases.
That certainly is a sad picture you describe.
I hVe bean at the mercy of landlords for 8 years I fell into debt . That I have proved it was not my falt the landlord does not care they said we just want to keep you in debt an keep me in a propty that is killing me with heath conditions . Even to the point that I had to get out my hospital bed to go to court or they would of made me homeless you landlords who hVe took advantage of people need to be ashamed of your self. Any one who profits from other people's misrury just scum . So now let's hope that no falt avictions show them that your not above the law
I’m sorry to hear about this. That is terrible. Sounds like you are dealing with a terrible landlord. Are there any alternative places you can rent?
Thank you for taking the time to reply . My landord is a housing association. An I am trying to get moved to a more suitable accommodation on health grounds I have tried to pay this rent short fall of for years it never seems to go down but up . Also I have proved this debt was not my falt so now I would ask you for some advice . Surly I can still be moved if I have mobility difficulties in accessing this propty even if I do have debt the feed back they are giving ne is you can't be egble for a move till all your debt is paid so this is hence why I feel they never want me to get out of debt . Because no one would live here??
If you haven't already, I would encourage you to follow this complaints process:
www.gov.uk/housing-association-homes/complaints
It outlines that you firstly should look to follow the specific complaints procedure of your housing association. If you follow it and they don't resolve the issue, then you can escalate it to the Housing Ombudsman.
The goal is if the housing association doesn't satisfy your complaint following their procedure, then the Housing Ombudsman will then be an external authority looking into this which should hopefully resolve this for you.
I hope that helps!
@BritishHomeInvestors no I hVint thank you I thiught I would only be the same corrupt cooperation I would be complaining to as they all seem to back each other up . Thank you
The housing ombudsman is a separate independent organisation, but they annoyingly won’t investigate until you’ve completed the complaints procedure of your landlord housing association.
I wish you the best of luck 🤞
So we have a landlord here singing for his supper. Who'd have thought it ? He glibly declares that increased house building will offset his profit losses - so how will that help the poor exactly, if ownership isn't regulated ? He also just declares rent controls to 'not work'. Not for him maybe. Neoliberalism has had it's day, the unregulated market leads to greed, exploitation and destitution, simples. This guy may have a gelled hairdo, but he looks a lot like Ebeneezer to me. They do not want the poor to have their own houses. They are parasites, quite literally, who want to keep their dependent, vulnerable customers right where they've got them to be milked like dairy cattle for profit. The solution ? Regulated markets and ownership, social housing and rent controls. When people twig that Starmer's Labour are not actually about that, we may actually start to get somewhere. I'm not holding my breath. (Having said that, only 20 per cent of the population voted for him, no matter how the media try and hype up the fake landslide)
Thanks for the comment. My goal is to share the data and attempt to give objective thoughts. Ultimately I will have a bias & on this topic there are going to be a big spread of opinion. I get investors say I’m anti landlord and tenants share similar views to you.
However, other than the attack on my character. I do agree with all you’ve said.
I’m not against anything that gives advantage to home owners over investors. Because I personally think the market is too easy for investors. Property investing needs to be about building homes, adding value to property that the majority of homeowners won’t want to do and adds value to the sector. I think when the economics allow an investor to buy a classic home with a 75% mortgage and turn a profit. There is a problem.
I’m not sure why you are full of praise seeing the landlords being crushed and their investments are at severe risk, why don’t people like you also say that alright Government can abolish evictions but they can then pay the rent to the landlords if tenants don’t pay.
I am a landlord and don’t support landlords being crushed.
I’m sorry if I’ve given that impression.
My goal is to give a balanced view of the market and events.
I couldn’t watch this past 4 minutes as too distracted with the weird background music. Was that done to calm down the viewers? If so, unfortunately your mission has failed due to a very basic error
I’m sorry. I will make sure to fix that for the next video. I appreciate the feedback 🙏
pledge to immigrants
English should be first in line
Aren’t we all immigrants to some degree?
@@BritishHomeInvestorsno
I agree immigration has got out of control. But do you not think we need a level of controlled immigration to keep the country turning?
@@BritishHomeInvestors we used to have controlled immigration but since 2000 it has been allowed to get out of control. Im very pessimistic about the future and can only see civil unrest on the horizon.
Mama
❔
Labour building houses for immigrants.
Immigration is definitely a hot topic at the moment.
1.5million new home won't make any difference because of the immigrants !
It may not make a big enough difference. But 1.5m new homes is better than nothing surely?
British homes for British people.
2% of London property is owned by overseas buyers or companies. 1% across the the UK 🇬🇧
@@BritishHomeInvestors I agree the figures are miniscule, i hazard a guess that @capri2673 was eluding to the socially rented properties (what is remaining) that will be given to those who recently arrived let us say, and now have settled status thus allowing them full rights to council properties depending on need.
Ah I see. Fair point.
Good renter cd have pets *****
👍
Not hve holidays fr years gve bck my council hse said thank yu. Some are cheatiners keep it. We hve worked all my life still working nothing cmes free
Hats off to you. Hard work is underrated and I admire your comment 👏
6:47 why do we need to replace the homes being sold? The homes that were sold still exist. You talk as if the people buying then are burning them down?
Population is increasing
@@BritishHomeInvestors yes, it is NOW, but regardless. If you need X new homes a year you need X new homes a year. It is totally irrelevant that they transition from rented to mortgaged to owned outright. If you are SAY a million homes short, then you need to build a million NEW homes
@@patdbeanx homes are needed because of immigration, into a consumer economy, in this economy we absorb hundreds of thousands of useless dependants who do nothing, and are over represented in social housing, the whole thing is going to come crashing down!! Building houses will make a few people rich, but with other factors tank the economy. The conservatives were a disgrace, but what labour are going to do to this country is terrifying.
Time will tell.
Unluck to landlord robbers.
Thanks for the comment. What do you mean?
@@BritishHomeInvestors you don’t invest in British homes , end of, they’re are for people to live in. Not for greedy Tory gitz to profit over.
It’s not just Tory voters that invest in property.
Sir Kermit Stalin. Back to the 1970's. Bye bye residential rental market.
Is that a bad thing? As an investor, investing in property should be about adding value. Not just buying up stock.
I’ll subscribe when you stop playing the unnecessary and annoying background piano music
Thank you, I will sort that
You sound like a tenant and not a home investor.
Thanks for the comment. Do feel free to look into me via the links in the description below 👇
A home investor can still hope for what's beneficial for the society even if it implies less ROI.
Agreed 100%
I play the game but still hope for better.
Where are these houses going to be built? Will they also build surgeries and schools?
Good questions!