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October 22 2021 5.16pm

Sir Keir Starmer

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View Badger11's Profile Badger11 Flag Beckenham 04 Oct 21 9.54am Send a Private Message to Badger11 Add Badger11 as a friend

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)

 


One more point

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jeeagles Flag 04 Oct 21 10.56am

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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View cryrst's Profile cryrst Flag Chatham 04 Oct 21 1.53pm Send a Private Message to cryrst Add cryrst as a friend

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.
Many millions and I bet plenty are tax from these sales. All that will happen is that they will sit empty or councils will try to buy them and rent them at such a low price that it's only the people on the gravy train who will benefit, hypothetically I mean. Then council tax rises and extra congestion and environmental taxes will be implemented to cover losses. A vicious circle.

 

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View The Dolphin's Profile The Dolphin Flag 05 Oct 21 7.27am Send a Private Message to The Dolphin Add The Dolphin as a friend

Little reported by the media from his speech last week - "my Father was a toolmaker - very much like Boris's Father"
A crass comment made in the same week that Mrs Johnson was buried shows how pathetic One Knee really is!
That and the racist scum comments from his colleague really shows what Labour stands for now.
Disgraceful words from supposedly educated people.

 

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View HKOwen's Profile HKOwen Flag Hong Kong 05 Oct 21 8.03am Send a Private Message to HKOwen Add HKOwen as a friend

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"
A crass comment made in the same week that Mrs Johnson was buried shows how pathetic One Knee really is!
That and the racist scum comments from his colleague really shows what Labour stands for now.
Disgraceful words from supposedly educated people.

 


A lie will travel half way around the world before the truth has got it's shoes on.

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