Economy The most common kind of business in the UK is Buy-to-Let.

[avenue94]

Lol, what it has to do with total dwellings? They only built 200,000 houses in 2023-2024. Now 66,000 isn't that insignificant, huh?

I'm putting your biased viewpoint in context. You can build more housing in a year if the government puts its mind to it.

You keep comparing apples and oranges dishonestly. First, 200K units is enough for 800K (assuming 4 per hour), which means if all those asylum seekers went to new housing they accounted for 8%.

But new housing isn't the only thing available on the market, when you factor in normal housing and apt sales, you're talking migrants taking up maybe low single digits, most likely less.

 

[650lb Sumo]

That's the price you pay for letting someone else cover the astronomical costs of keeping up the maintenance on a house and having the ability to move with minimal aggravation.

There is currently 30 houses within 5 miles of me for around £200k. That's a £20k deposit. I've spent that alone in the last 6 months on my garden. If you are that desperate to buy a house, move into a small flat or similar for 2 years whilst you save.

You're not a landlord by any chance are you?

Sounds like someone got cheap Landon a flood plain and people didn't do their proper due diligence before buying. Something similar happened in a place near me, how the planners who allowed the development fucked that up that badly is a mystery

The UK seems to be full of flood plains. It has a comparatively cool and wet climate and used to be full of bogs, marshes and wetlands as well as forest. Since almost all of that has been chopped down and drained, and is now being increasingly concreted over, you're bound to get a lot of floods. I've read there are as many as 27 (now) underground rivers in London.

 

[panamaican]

In American english buy-to-let, means purchasing rental property? Like single family homes, or commercial?

This is new?

Sounds like they introduced a new tax advantage if you buy your rental properties in a company name instead of in your own. So now lots of people are switching over to the company format to get the tax break.

In the US, we've been buying rental properties in company names forever, primarily for the liability protection. Frankly, I tell clients to form a new LLC for every property they own. So, people will buy 5 houses with 5 different LLCs.

Hence, it's not surprising that the UK is seeing a massive uptick in buy-to-let companies. The industry hasn't changed, the form of ownership has. Sounds like some big name landlords forced through tax advantage legislation for themselves and it's trickled down to everyone in the industry.

 

[650lb Sumo]

 

[Fossor]

I'm putting your biased viewpoint in context. You can build more housing in a year if the government puts its mind to it.

You keep comparing apples and oranges dishonestly. First, 200K units is enough for 800K (assuming 4 per hour), which means if all those asylum seekers went to new housing they accounted for 8%.

But new housing isn't the only thing available on the market, when you factor in normal housing and apt sales, you're talking migrants taking up maybe low single digits, most likely less.

You have interesting math, first you mentioned 30 million dwellings which is almost half of 68 million population, but now you multiply by 4?! Who is dishonest here?
Second, you should go over the conversation again, because once again you are failing to prove that migrants aren't adding to the problem. Did I mentioned that asylum seekers are only 11% of all immigrants, who also need houses?
Oh and speaking of dishonest - 200k is a two year number 2023 and 2024. This official link shows that in 2023-2024 more than 90K were granted refugee protection.

 

[avenue94]

You have interesting math, first you mentioned 30 million dwellings which is almost half of 68 million population, but now you multiply by 4?! Who is dishonest here?

You said houses. How many people generally live in a house?

Second, you should go over the conversation again, because once again you are failing to prove that migrants aren't adding to the problem. Did I mentioned that asylum seekers are only 11% of all immigrants, who also need houses?

If you're hoping for a country to stop all immigration until they get through a housing backlog, that country will never get through the backlog or stay growing.

Not to mention you need more people paying into the social safety net anyways.

 

[Hellowhosthat]

That's the price you pay for letting someone else cover the astronomical costs of keeping up the maintenance on a house and having the ability to move with minimal aggravation.

There is currently 30 houses within 5 miles of me for around £200k. That's a £20k deposit. I've spent that alone in the last 6 months on my garden. If you are that desperate to buy a house, move into a small flat or similar for 2 years whilst you save.

For young people looking to get onto the housing market even finding £20k is going to be hard unless they have a relative who can lend it to them. Especially if they have to rent in the meantime.

I'm putting some money aside to be able to pay my daughter's deposit for her but not everyone is able to do that.

 

[The Big Yin]

You're not a landlord by any chance are you?

No (not now anyway), I'm someone who understands the need for private, rental and social housing in a civilized country.

I rented out a house 15 years ago and it was nothing but a fucking arse ache. The rental income (net) was taxed at 40%, I was forever getting bills for things like a new boiler, unblocking drains, broken fixtures & fittings (that just mysterious broke) and my last tennant left the place needing a complete refurb. Renters also don't do things like maintain gardens. I made very little from it month to month other than the profit I sold the house for.

Like I say, the real issue is HMOs and foreign buyers. It's created a slum class on the UK.

 

[Hellowhosthat]

No (not now anyway), I'm someone who understands the need for private, rental and social housing in a civilized country.

I rented out a house 15 years ago and it was nothing but a fucking arse ache. The rental income (net) was taxed at 40%, I was forever getting bills for things like a new boiler, unblocking drains, broken fixtures & fittings (that just mysterious broke) and my last tennant left the place needing a complete refurb. Renters also don't do things like maintain gardens. I made very little from it month to month other than the profit I sold the house for.

Like I say, the real issue is HMOs and foreign buyers. It's created a slum class on the UK.

People like yourself aren't the issue. It's the people who can afford to buy in cash and then end up working in conjunction with other landlords (not actively speaking with them obviously) to put rent up as the market rises even though their costs for that house don't rise.

I have to check people's housing costs as part of my job and I do have respect for landlords where a tenancy agreement from 5 years or so ago is still in place and they haven't put the rent up just because they could probably get away with it.

 

[cmw43]

New labor would be filling in empty roles. Natives aren't getting priced out of work, they don't exist in enough supply. So your options are either raise wages beyond market rate due to distorting the labor market, or to increase supply and so closer to market rates can be maintained.

Which do you prefer?

Kier Starmer was saying this week that 1 in 8 young people aren't in education, employment or training. We need to get those people into work.

We've got 11million people total or a quarter of the working age population not employed. That includes students and carers and the chronically I'll but there's still a ton of people who are "economically inactive" who could be working.

Who are the millions of Britons not working, and why?

About a quarter of the working age population - those aged 16 to 64 - do not currently have a job.

www.bbc.co.uk

 

[Fossor]

You said houses. How many people generally live in a house?

If you're hoping for a country to stop all immigration until they get through a housing backlog, that country will never get through the backlog or stay growing.

Not to mention you need more people paying into the social safety net anyways.

Why are you asking me? You said 30million fo 65million people.
Haha. If you need to build houses, you can bring construction workers, they build you a house take the money and fly back to their countries.

 

[Cole train]

Why are you asking me? You said 30million fo 65million people.
Haha. If you need to build houses, you can bring construction workers, they build you a house take the money and fly back to their countries.

Thats actually how its done in most euro countries

Guys come in, do the job,fly back home as rich men

Man i was green with envy when i was doing same job for bad pay since im local lol

 

[Wrath of Foamy]

I escaped this shit a couple of months ago.

I was staying in a studio property with my missus over seven years and the rent went up from £750, to £800, to £850, to £950 and in the last contract, £995 a month. The flat is probably worth about £160,000.

There was no maintenance on the property at all, the inspections were shit and a few years in, they stopped replacing things, like the shower wall bracket and the carbon monoxide alarm. There were also mould issues due to no proper ventilation or extraction fans. Had issues with birds and trees over my car park space too.

I moved out a few months ago and I own my own home. Stupid cunt who runs the estate agent kept saying "leave it exactly as you left it" and requested that I get a professional clean. I got the clean, but the cleaner botched it and exposed previously hidden things. I have the keys in anyway, explained the situation and left.

I knew there were going to be deductions, and the estate agent has a bit of a go, but so far I've heard absolutely nothing about my deposit a month in.

I know that she is a shark, they all are. She was asking questions about my new place and indirectly making comments about the general town, trying to figure out exactly where I am.

I also had to deal with an estate agent come round, who was rude and then started asking questions about my job and my pay scale. Renewal time comes up and my monthly rent had been risen by £100.

I'm torn between letting them keep the £1,100, though I'd expect about half of that back, and cutting them out entirely, or keep pushing on trying to get it back. I've already pushed past it all in savings, I can save quite well. It's about what is right, though, or just cutting them out and moving on stress free.

Buy-to-Let preys on the vulnerable in this society. It's disgusting.

 

[Hellowhosthat]

I escaped this shit a couple of months ago.

I was staying in a studio property with my missus over seven years and the rent went up from £750, to £800, to £850, to £950 and in the last contract, £995 a month. The flat is probably worth about £160,000.

There was no maintenance on the property at all, the inspections were shit and a few years in, they stopped replacing things, like the shower wall bracket and the carbon monoxide alarm. There were also mould issues due to no proper ventilation or extraction fans. Had issues with birds and trees over my car park space too.

I moved out a few months ago and I own my own home. Stupid cunt who runs the estate agent kept saying "leave it exactly as you left it" and requested that I get a professional clean. I got the clean, but the cleaner botched it and exposed previously hidden things. I have the keys in anyway, explained the situation and left.

I knew there were going to be deductions, and the estate agent has a bit of a go, but so far I've heard absolutely nothing about my deposit a month in.

I know that she is a shark, they all are. She was asking questions about my new place and indirectly making comments about the general town, trying to figure out exactly where I am.

I also had to deal with an estate agent come round, who was rude and then started asking questions about my job and my pay scale. Renewal time comes up and my monthly rent had been risen by £100.

I'm torn between letting them keep the £1,100, though I'd expect about half of that back, and cutting them out entirely, or keep pushing on trying to get it back. I've already pushed past it all in savings, I can save quite well. It's about what is right, though, or just cutting them out and moving on stress free.

Buy-to-Let preys on the vulnerable in this society. It's disgusting.

Congratulations on working your way out of that shitty system Sherbro.

 

[Hellowhosthat]

Kier Starmer was saying this week that 1 in 8 young people aren't in education, employment or training. We need to get those people into work.

We've got 11million people total or a quarter of the working age population not employed. That includes students and carers and the chronically I'll but there's still a ton of people who are "economically inactive" who could be working.

Who are the millions of Britons not working, and why?

About a quarter of the working age population - those aged 16 to 64 - do not currently have a job.

www.bbc.co.uk

From the perspective of someone who works in the welfare system, what we're getting a lot of now is what I'd call the lockdown generation. Kids who lack social skills and have no self-confidence because they were stuck indoors for two years at a crucial time in their social development.

I feel sorry for them because they were let down. I do think finding them not fit for work is the wrong move, but when you're working on building the confidence to get them into work, it's not an overnight thing with a lot of them.

Annoyingly the kickstart programme that was implemented pretty poorly by the last government would be perfect for these kids.

 

[Fossor]

Thats actually how its done in most euro countries

Guys come in, do the job,fly back home as rich men

Man i was green with envy when i was doing same job for bad pay since im local lol

Yep, it is a common practice. In addition, you can hold a tender and hire a special contractor who will take on the arrangement and temporary housing for workers, because every time the state does something like this, it spends 3 times more money.

 

[Hellowhosthat]

Yep, it is a common practice. In addition, you can hold a tender and hire a special contractor who will take on the arrangement and temporary housing for workers, because every time the state does something like this, it spends 3 times more money.

Brexit kind of fucked doing that here. Most of the contractors that would come in and do work like that were Eastern Euro, but it did drag down the wages of skilled contractors so it was a catch 22 thing.

 

[Wrath of Foamy]

Evil

Congratulations on working your way out of that shitty system Sherbro.

Thanks mate.

It can be done, but I feel really sorry for those on a poor wage, especially if they're alone. It's not just the rent, but the council tax and utilities bills too.

A mortgage lender will typically lend out 4.5x of an annual wage and the deposit needs to make up the difference, as well as having to pay for solicitor fees.

You don't need as much as people think to own your first home, but you need a good annual salary and you need to be able to save. People need to learn to get themselves away from basic, low paying work as soon as they can. Even a little pay increase per month can lead to better options.

Then again, people wonder why young adults are leaving their parents house later and later...

 

[usernamee]

Thats actually how its done in most euro countries

Guys come in, do the job,fly back home as rich men

Man i was green with envy when i was doing same job for bad pay since im local lol

Usually it's people from countries with lower income coming in to do the same work for less or about the same as the locals (but still a lot more than their home country) but here they did it for more than you were getting paid?

Like Polish people coming to Sweden, and even Swedish people going to Norway

 

[Cole train]

Usually it's people from countries with lower income coming in to do the same work for less or about the same as the locals (but still a lot more than their home country) but here they did it for more than you were getting paid?

Like Polish people coming to Sweden, and even Swedish people going to Norway

Im aware how it works

Thing is amount they were being paid was less than mine but even with their lower pay they could buy apartments or land in their home country.

I could not since im in "rich country" and everything costs a lot

Of course i would still rather live here, i was just thinking back then that man it sucks that i dont have option to do 6 month to year work trip and come back home to buy apartment or land lol