Say hello to Barratt Homes' 'Brixton Square' on Coldharbour Lane (old Cooltan site)

[Rushy]

What would be the point of that restriction? Why should outright owners be allowed to profit from their property but not mortgage holders? Doesn't it just stack the odds even more in favour of those at the top of the pile?.

To be honest, that's exactly what George Osborne's latest budget has done. Letting property is about to become unaffordable to most people other than cash buyers, those who can afford to fund a negative cash flow in return for a potential capital gain and anyone buying properties through a limited company (which are not affected by the new rules).

 

[CH1]

To be honest, that's exactly what George Osborne's latest budget has done. Letting property is about to become unaffordable to most people other than cash buyers, those who can afford to fund a negative cash flow in return for a potential capital gain and anyone buying properties through a limited company (which are not affected by the new rules).

Can you explain this in more detail to an ex charity book-keeper?

 

[Gramsci]

Ha ha ha I've lived here 18 months and I haven't met anyone either, all young professionals, seem to keep themselves to themselves. A simple nod of the head is all you get, or a quick chat in the lift.

Has no one thought of setting up a residents group?

Was up at Waterloo delivering to a flat in a new upmarket tower block ( a lot of these around central area now) and saw they had residents group to deal with communal maintenance issues and social events.

 

[CH1]

What would be the point of that restriction? Why should outright owners be allowed to profit from their property but not mortgage holders? Doesn't it just stack the odds even more in favour of those at the top of the pile?

I'd prefer to have rent controls, which would apply to every landlord regardless of whether they held mortgages or not.

I agree rent controls would be very desirable.

The problem with buy-to-let is it is a cult reflected in BBC the programme "Homes under the Hammer" and similar Channel 4 shows.

Back in the 70s/80s, mortgage financed buyers got MIRAS (Mortgage Interest Relief at Source).
In those days mortgages were typically 10% interest rate and the subsidised rate was 7% for owner occupiers.

Buy to let (if they existed) would have to take a bank loan at 10%+

At the present time owner occupiers get no subsidy, but buy-to-let landlords have accountancy schemes to allow them to offset all costs of letting, including the mortgage, against tax on profits.

I would say then that buy to let landlords have much better tax rights than owner occupiers. In a way this is similar to the right to buy stocks on margin that led to the Wall Street Crash.

 

[leanderman]

Osborne has taken some useful steps toward removing the buy-to-letters' tax advantages

But, as Rushy points out, the bigger players will be unaffected.

 

[Gramsci]

Can you explain this in more detail to an ex charity book-keeper?

This surprised me so looked it up. Here is Guardian take on it. And I am surprised Tory government has done this. I reckon they did not say they would do this at election time.

When this column was the first to highlight the perils of buy-to-let – both social and economic – Gordon Brown was chancellor. When we first revealed the vast tax reliefs paid to landlords, Alistair Darling was about to assume the role. Why did it take a Tory chancellor – much to the shock of his voters – to take the first steps to clamp down on the excessive tax privileges enjoyed by landlords?

We will hear heaps of tosh about how Osborne’s attack on landlords will hurt tenants most. The supply of rented property will dry up, they say, in the deluded belief that families today choose to rent rather than being forced to by high house prices. In any case, there are indications that the new tax regime will support institutional investment in rental property, which if it happens should lead to a saner, rather more German-style lettings market.

 

[leanderman]

This surprised me so looked it up. Here is Guardian take on it. And I am surprised Tory government has done this. I reckon they did not say they would do this at election time.

It has to be one of the most unexpected budget measures ever.

 

[Strangerdanger]

I know several of our neighbours - all very pleasant people. We've become quite good friends with one couple in particular, but given the hours we seem to work these days it's very difficult to be social. So I guess maybe you could say we keep to ourselves - but when you've just worked a 60 hour week, all you want to do sometimes is sit on the sofa at the weekend and recover.

 

[CH1]

I know several of our neighbours - all very pleasant people. We've become quite good friends with one couple in particular, but given the hours we seem to work these days it's very difficult to be social. So I guess maybe you could say we keep to ourselves - but when you've just worked a 60 hour week, all you want to do sometimes is sit on the sofa at the weekend and recover.

I'm sure that's right. People doing 60 hours a week are hardly in a position to go round organising events like Lynda Snell on the Archers.
I feel sorry for people chained to large mortgages - but then again I feel sorry for myself, unable to jet away to foreign parts because of no job.
Its all Yin and Yang I suppose.

 

[Strangerdanger]

Yeah such is life. I'm not complaining, I love my job! Just trying to explain why it may seem as some people are anti social.

 

[Mr Bim of Bar]

Has no one thought of setting up a residents group?

Was up at Waterloo delivering to a flat in a new upmarket tower block ( a lot of these around central area now) and saw they had residents group to deal with communal maintenance issues and social events.

The block is run really efficiently by BARRATTS, always clean and tidy and communal maintenance is also very good, with gardeners, cleaners, painters, on site frequently, so currently we dont have any problems, one quick call to the concierge seems to solve any issues.
As for social events we have a raised garden platform which would be ideal for a social gathering.
You've tempted me to put something up on the notice board.

 

[editor]

The block is run really efficiently by BARRATTS, always clean and tidy and communal maintenance is also very good, with gardeners, cleaners, painters, on site frequently, so currently we dont have any problems, one quick call to the concierge seems to solve any issues.
As for social events we have a raised garden platform which would be ideal for a social gathering.
You've tempted me to put something up on the notice board.

They can probably afford that after they managed to get their already-minimal commitment to 'affordable' housing further reduced by those obliging folks at Lambeth Council.

 

[Mr Bim of Bar]

They can probably afford that after they managed to get their already-minimal commitment to 'affordable' housing further reduced by those obliging folks at Lambeth Council.

Yep £2500 a year service charge, it's steep but at least you can see your money being spent

 

[Mr Bim of Bar]

I agree rent controls would be very desirable.

The problem with buy-to-let is it is a cult reflected in BBC the programme "Homes under the Hammer" and similar Channel 4 shows.

Back in the 70s/80s, mortgage financed buyers got MIRAS (Mortgage Interest Relief at Source).
In those days mortgages were typically 10% interest rate and the subsidised rate was 7% for owner occupiers.

Buy to let (if they existed) would have to take a bank loan at 10%+

At the present time owner occupiers get no subsidy, but buy-to-let landlords have accountancy schemes to allow them to offset all costs of letting, including the mortgage, against tax on profits.

I would say then that buy to let landlords have much better tax rights than owner occupiers. In a way this is similar to the right to buy stocks on margin that led to the Wall Street Crash.

The developers at the CEASARS night club in Streatham hill have already started to canvas buy to let landlords. The devopment is due to be finished in July 2017, but you can buy off plan in four weeks times.
A two bed will be around £550,000 you can secure now at this price and purchase in 2017.

 

[DietCokeGirl]

The developers at the CEASARS night club in Streatham hill have already started to canvas buy to let landlords. The devopment is due to be finished in July 2017, but you can buy off plan in four weeks times.
A two bed will be around £550,000 you can secure now at this price and purchase in 2017.

We're all fucked.

 

[spanglechick]

The developers at the CEASARS night club in Streatham hill have already started to canvas buy to let landlords. The devopment is due to be finished in July 2017, but you can buy off plan in four weeks times.
A two bed will be around £550,000 you can secure now at this price and purchase in 2017.

Why do you put the names of businesses ("Barratts", "Caesars") in block capitals?

 

[Winot]

Why do you put the names of businesses ("Barratts", "Caesars") in block capitals?

Mr Bim of Bar Bot

 

[Gramsci]

Yep £2500 a year service charge, it's steep but at least you can see your money being spent

ffs thats a lot. Do they do a breakdown for you how its spent?

I would not be surprised if Barrats make a small profit out of this service charge.

 

[Mr Bim of Bar]

Mr Bim of Bar Bot

MR BIM OF BAR BOT

 

[Mr Bim of Bar]

Why do you put the names of businesses ("Barratts", "Caesars") in block capitals?

ffs thats a lot. Do they do a breakdown for you how its spent?

I would not be surprised if Barrats make a small profit out of this service charge.

Yes complete breakdown every six month

 

[Gramsci]

Yes complete breakdown every six month

And you believe the breakdown?

Barrrats whole raison d'etre is to make money out of people.

 

[CH1]

The developers at the CEASARS night club in Streatham hill have already started to canvas buy to let landlords. The devopment is due to be finished in July 2017, but you can buy off plan in four weeks times.
A two bed will be around £550,000 you can secure now at this price and purchase in 2017.

Doesn't this remind you of Spain 10 years ago? God help these people if the market does actually come off the boil.

 

[Mr Bim of Bar]

And you believe the breakdown?

Barrrats whole raison d'etre is to make money out of people.

And you believe the breakdown?

Barrrats whole raison d'etre is to make money out of people.

no reason to disbelieve it, it all looks fair and reasonable

Doesn't this remind you of Spain 10 years ago? God help these people if the market does actually come off the boil.

It's harder to get a mortgage than ever before, the lenders have a very strict lending criteria, most of these properties are being bought by people with a huge salary, at these prices they would need £55,000-£80,000 in the bank just for the deposit. As for buy to let, if the market dips the rent certainly don't.

 

[DJWrongspeed]

A two bed will be around £550,000 you can secure now at this price and purchase in 2017.

That's nuts, it's not Herne Hill, it's Streatham High Rd, hardly a desirable place to live unless you like counting buses.

 

[Mr Bim of Bar]

That's nuts, it's not Herne Hill, it's Streatham High Rd, hardly a desirable place to live unless you like counting buses.

 

[teuchter]

"London Square"

Sounds like a name designed to appeal to overseas investors.

 

[Mr Bim of Bar]

"London Square"

Sounds like a name designed to appeal to overseas investors.

Not really, I think that is the name of the developers, think UK investors are getting first option on this development as invites have just been sent out for a champagne and canapés pre launch pre viewing for selected guests to be held in a top London hotel for next week.

 

[editor]

Everything is a fucking square or a village these days.

 

[Belushi]

Everything is a fucking square or a village these days.

My estate is a "village" : D

 

[quimcunx]

My estate is a "village" : D

It is very villagey. You can see trees from the balcony. Round Old Street it's all about the Quarters.