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Badger11 Beckenham 04 Oct 21 9.54am | |
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Originally posted by cryrst
The issue is its the foreigners who generally buy the high end places in big cities. Costing multi millions to build and most are bought off plan. I doubt many UK millionaires would be overly interested so stopping foreigners buying them would slaughter the market. I'm sure there is a great deal of tax made for hmg on these purchases. I said before that there can't be many foreigners buying 3 bed semis; I would guess that's brits buying to rent. Maybe if a cap on value to a foreigners buying of say 1m will keep family homes owned by brits but not many. The crack down needs to be on buy to rent as hmg have done but it still doesn't mean rental is any cheaper. Anyone could also set up as a business to buy more so really difficult to deal with tbh. The Chinese bought Earls Court off plan if that had been banned perhaps affordable housing could have been built instead. Personally I don't think homes should be an investment if you make money on your 3 bed that you live in good luck but we need to stop these consortiums or at the very least tax the hell out of them. In Lewisham there are loads of new flats bought and empty because the locals can't afford the rent. Edited by Badger11 (04 Oct 2021 9.54am)
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jeeagles 04 Oct 21 10.56am | |
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Originally posted by cryrst
The issue is its the foreigners who generally buy the high end places in big cities. Costing multi millions to build and most are bought off plan. I doubt many UK millionaires would be overly interested so stopping foreigners buying them would slaughter the market. I'm sure there is a great deal of tax made for hmg on these purchases. I said before that there can't be many foreigners buying 3 bed semis; I would guess that's brits buying to rent. Maybe if a cap on value to a foreigners buying of say 1m will keep family homes owned by brits but not many. The crack down needs to be on buy to rent as hmg have done but it still doesn't mean rental is any cheaper. Anyone could also set up as a business to buy more so really difficult to deal with tbh. Not sure that the flats on Hyde Park Corner etc. are the concern of the average house buyer. In terms of B2L, it's now a lot harder than it used to be. There's a 2% surcharge on Stamp Duty whilst other allowances have been cut (all under a Tory government). It's also more difficult to get a B2L mortgage when living abroad, and far more difficult to manage. I'd agree that this isn't an area where foreign investors have an interest. The Battersea development is Chinese owned, the issue with that development is that you need someone with the capital to fund the scheme. It's possibly a much bigger risk than the investors bargained for as I hear a lot of the flats are being sold cut price. The Wembley Park development is UK/Canadian owned Chinese investors aren't buying up everything. The entire site will be rented apparently. A lot of commercial space seems to be owned by off-shore companies. Once you trace the money, I wouldn't be surprised to find that the shell companies are part of pension funds who've invested in safe markets to fund your retirement. Some caution is required.
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cryrst The garden of England 04 Oct 21 1.53pm | |
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Originally posted by jeeagles
Not sure that the flats on Hyde Park Corner etc. are the concern of the average house buyer. In terms of B2L, it's now a lot harder than it used to be. There's a 2% surcharge on Stamp Duty whilst other allowances have been cut (all under a Tory government). It's also more difficult to get a B2L mortgage when living abroad, and far more difficult to manage. I'd agree that this isn't an area where foreign investors have an interest. The Battersea development is Chinese owned, the issue with that development is that you need someone with the capital to fund the scheme. It's possibly a much bigger risk than the investors bargained for as I hear a lot of the flats are being sold cut price. The Wembley Park development is UK/Canadian owned Chinese investors aren't buying up everything. The entire site will be rented apparently. A lot of commercial space seems to be owned by off-shore companies. Once you trace the money, I wouldn't be surprised to find that the shell companies are part of pension funds who've invested in safe markets to fund your retirement. Some caution is required. Yup and explains my comments a bit. If you do this to foreign investors you somewhat kill the goose that lays the golden egg.
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The Dolphin 05 Oct 21 7.27am | |
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Little reported by the media from his speech last week - "my Father was a toolmaker - very much like Boris's Father"
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HKOwen Hong Kong 05 Oct 21 8.03am | |
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Yes, although Rayner does not fall in to the educated category Originally posted by The Dolphin
Little reported by the media from his speech last week - "my Father was a toolmaker - very much like Boris's Father"
Responsibility Deficit Disorder is a medical condition. Symptoms include inability to be corrected when wrong, false sense of superiority, desire to share personal info no else cares about, general hubris. It's a medical issue rather than pure arrogance. |
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steeleye20 Croydon 29 Nov 21 4.19pm | |
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You would think anyone could inflict a blow on this government. Look at the state of the country. Yet, once more Sir Keir is using his time to reshuffle his pack of bland mild conservatives. His decision to whip his party in support of the catastrophic brexit deal a mockery of democratic accountability from an opposition. Now he can't say a word against it, genuine socialists prefer not to work with him, some actually refusing and joining the back benches. What of Corbyns promise to end the water privatisation, no he supports the country walking in sewage. Draconian new laws he sees as mild increases in sentencing. Not laid a glove on the worst PM we have ever had. Grrrrr...
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Badger11 Beckenham 29 Nov 21 4.29pm | |
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Originally posted by steeleye20
You would think anyone could inflict a blow on this government. Look at the state of the country. Yet, once more Sir Keir is using his time to reshuffle his pack of bland mild conservatives. His decision to whip his party in support of the catastrophic brexit deal a mockery of democratic accountability from an opposition. Now he can't say a word against it, genuine socialists prefer not to work with him, some actually refusing and joining the back benches. What of Corbyns promise to end the water privatisation, no he supports the country walking in sewage. Draconian new laws he sees as mild increases in sentencing. Not laid a glove on the worst PM we have ever had. Grrrrr... Hmmm deckchairs and Titanic spring to mind.
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Badger11 Beckenham 29 Nov 21 5.17pm | |
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That cabinet re-shuffle in full. "Dull man replaces dull people with more dull people no one has heard of".
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