what’s next then?

[diy_fun_uk]

Maybe we should expand such a policy. Take old Betty. She and her husband bought a property decades ago for £50k. Relatively large 4 bed house. They both worked hard to buy it, then for decades after to maintain it and raise a family in it. Betty's now old, her hubby has passed away and the children are grown up and moved out. Betty lives in the big house herself, however it's familiar to her, holds lots of memories, so she's happy to live there until she pegs it or needs to go into care. The house is now worth £400k through no fault of Betty's.

I know. Let's tell Betty her house is being put on the market ... whether she wants to sell or not. Further, it will be put on at £280k and offered to first time buyers only.

Get out Betty. Yeah you and your hubby bought the house for the going rate decades ago. Yeah you've paid a mortgage on it for 20-30 years. Yeah you've invested in the property as and when required over the years. Yeah you were hoping to leave it to your family.

But NAH, f**k you Betty, we're FORCING you to sell your home, got it?!?

Now I think about it, yeah, great plan. Whether private landlords or those that are simply living in houses they no longer need, let's force them to sell.

Of course, I'll be expecting the scheme to be rigorously applied to every citizen from top to bottom. I'm sure <insert wealthy person's name here> living alone in a £4 million mansion will be happy to be forced to sell it for £2 million.

 

[ajohn]

scheme that allows my tenants to buy my properties ... regardless of whether I want to sell them or not? And at a substantial discount?

It wasn't really clear if Boris was suggesting that as well. Rather radical if he is and may be.

To me selling individual flats in a purpose built block has strange aspects in terms of maintenance. On the other hand when I looked at getting my first property it was a flat in a block that had been built by some form of housing association. No additional charges over buying was mentioned. No mention of part ownership either but the price was rather attractive. If I had looked further I may have found that it wasn't a straight buy and own. My wife didn't know she had bought under a part ownership deal. Soon found out when time came to sell it. My brother used part ownership twice and in real terms has benefited from it in terms of owning a house. Only way he could do it. He used it twice actually.

 

[ajohn]

Maybe we should expand such a policy.

It could be made to work by increasing rent, Didn't Mrs T have some sort of period of living there and paying rent? A minimum?

The devil is always in the detail.

 

[JohnD]

Not sure if you're trolling on this or being serious.

Do I think it's justifiable to introduce a scheme whereby private landlords are forced to sell their property/ies to tenants, not only that, but at a discount? Do I need to give you three guesses?!?

You 'do' realise most private landlords do not own more than three properties and do not rake in thousands each week in pure profit? Of course there are exceptions to the rule, however I wouldn't even agree with such a policy for those landlords that have made millions of out property.

I see you have altered my question and asked a different question.

that's because you can't face up to the actual question.

dork has the same problem.

 

[Deleted member 292770]

You 'do' realise most private landlords do not own more than three properties

most don’t own one . They’re normally mortgaged.

 

[Deleted member 292770]

£280k and offered to first time buyers only.

where is this?

 

[diy_fun_uk]

I see you have altered my question and asked a different question.

that's because you can't face up to the actual question.

dork has the same problem.

Eh?!? What 'is' the actual question then? You said this:

surely we could enforce the right of private tenants, to buy their homes from BTL landlords, at a substantial discount.

Unless I'm misreading what seems like a pretty straightforward question, my answer remains no. You're asserting if I want to sell one of my properties tomorrow and it has a market value of £100k, the tenant should a) have priority right to buy it and b) at substantially less than market value. What would you suggest? £95k? £90k? £85k? £80k? Less?

So I've been paying a mortgage based on the market value of the property, but now I come to sell, I've to accept substantially less whether I want to or not?

 

[JohnD]

I'm glad to hear that you have ample other resources.

However, I am probing the idea that it is, or is not, justifiable to force owners of homes to sell them to their tenants at a substantial discount to their market value.

Do you think it is justifiable?

here you are.

 

[Dork Lard]

Eh?!? What 'is' the actual question then? You said this:

He's a Marxist revolutionary, there can be no reasoning with him.

He thinks the ownership of the property is theft & it should be retrieved for the greater good of the proletariat by force if necessary.

 

[JohnD]

dork lives in a world of fantasy and likes to make up false stories about people rather than face up to his strange beliefs.

 

[Dork Lard]

.

 

[ajohn]

One thing that interests me concerning Mrs T was what to do when banks had problems. Jack up interest rates and if I remember correctly windfall tax on banks. Saving if you could was worth while and those with money had more to spend. I suppose some found themselves with negative equity in the house they owned. Some may have found it impossible to pay the mortgage. Many just carried on paying it and even kept that payment up when rates reduced.

Then compare that with what happens with emergency low rates and ask if saving returns can ever match or exceed inflation again also the effects of low rates on prices in general. It not even clear that the low rates achieved anything.

 

[noseall]

dork lives in a world of fantasy and likes to make up false stories about people rather than face up to his strange beliefs.

..and lies an awful lot too.

 

[JohnD]

You're asserting

no I'm not

I am, however, questioning the idea that it is justifiable to force the owner to sell homes to tenants, at a large discount.

Do you think it is justifiable?

 

[Deleted member 292770]

no I'm not

I am, however, questioning the idea that it is justifiable to force the owner to sell homes to tenants, at a large discount.

Do you think it is justifiable?

I think you established that they do not think it’s justifiable. Question is , is it justifiable to use 3 pages to work out whether something is justifiable?