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paul canton

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my expertise in the industry

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fully agree with john macay........but I am Labour voter, who has also sworn never to vote for them again. this government cannot build social housing in case it looses the cash given to it by the big development companies as a bung (sorry party donation) it cannot organise the legalities for renters or landlords with a system that makes sense to either, It ties local authorities hands when they want to develop social housing. Housing is one of the biggest difficulties the UK faces and we have vote hungry know nothings in charge. just what are they getting right.......? Biggest disappointment for me is Labour are just as useless.

From: paul canton 02 July 2018 14:56 PM

I agree, the longer a good tenant stay the better. In Germany they have system where a 6 year contract is not uncommon, with agreed rent raises at agreed dates. If your a landlord who is not looking to sell up, this is a good idea. Over the last six year period each my properties have had almost a whole year void and the usual expense with agents and a repaint etc. I personally would reduce the rent for a good reliable long term tenant, if this came with a tax break as well.....no brainer. My solicitor tells me that at present if you offer more than a two year contract it offers rights to the tenants that do not help the landlord should the tenants not pay their rent, this is the area the government need to be clear on. Of course I doubt letting agents would be too chuffed.

From: paul canton 18 May 2018 09:58 AM

Its not a one way street this issue. I have a rental property that I rent long term and on the same road has been a "trouble" house, heaven knows how many people were living there or at least sleeping there, rubbish strewn about the street outside, alcohol related problems especially late at night.........BUT now it appears to be a well run air BNB. Problem house gone, well maintained quite house in its place. I'm sure thats not unique.

From: paul canton 23 February 2018 10:50 AM

I fully agree, I also maintain my property to a high standard and have yet to increase rent for any tenant once they have moved in, even those who live in the property for many years. However, the changes to tax regarding the interest on my mortgage payments and the removal of the 10% wear and tear allowance, means this year i will have to raise rents. This is not because I want more money personally, it will be solely to meet the increase in my tax. When I hear Mrs May use the term "the just about managing" it infuriates me. The tax changes for landlords will hit precisely that group. By my maths even after a raise in rents I will still be paying considerably more tax, enough to make my business unsustainable. My one hope is that when landlords sell off their properties the banking industry will wake up to the needs of first time buyers and actually lend them some money, and secondly start to lend above 4 times their earnings. That at least could help "generation rent".

From: paul canton 23 January 2018 15:09 PM

just what does Ian Duncan Smith know about property. A well trained labrador would be of more use.

From: paul canton 13 June 2017 14:14 PM

It surprises me that the government who boasts it wants to work for the JAM actually prefer to hit landlords with extra expenses that some are bound to pass on to their tenants a percentage of whom will be "just about managing". Message to government : try building some new council homes. Try not selling them to tenants until they have lived there 15 years.

From: paul canton 14 February 2017 11:49 AM

I do not rent through air BUT it seems for landlords who do, their choice to do with a property what they want, is about to be removed by the state. Were the state have actually built some state owned homes over the last 10 years the problem private individuals are soon to be attacked for would not have arisen. Mr Cameron's government were particularly unless at getting councils to build more homes for the poorer of our society to rent. Continued attacks on landlords of any type is scapegoating .

From: paul canton 13 February 2017 11:37 AM

Landlords are quitting I have noticed an increase in properties for sale that are rented. There are a lot of properties advertised in both the "to rent" and the "for sale" sections of well known websites. The premise "rent it or sell it, what ever happens first", thats a new one. Landlords up until now held on to their properties whilst borrowing against the equity to buy another property but with BTL mortgages so difficult to get and the tax thats going to hit landlords, thats changing.

From: paul canton 18 November 2016 09:46 AM

As a landlord I think the section 21 notice is weighed just a little too far in my favour. Two months is not enough time for a tenant to find another home unless they act very quickly, which most people do not. I think a minor changes to the section 21 would help, simply adding a month to make a three month notice would help tenants and adding a clause that tenants must allow viewing during the three months would help landlords. It takes 2 months from viewing to completion to sell a property usually. If a landlord gets a buyer in the first month of the section 21 then the rent carries on right up until completion, no void period. No matter what government and pressure groups do do tax, discourage, and control the BTL private landlord market, there is only one remedy to the UKs housing problem, its so obvious, only a government could fail to see it......build (lots of) state owned homes and don't sell them. Government could afford to keep rents affordable which would add proper competition to the private landlord. I have no problem with competition and huge problems with MR Osborne's attack on the lettings industry. I notice the soft furnishings industry got a nice reduction in its corporation tax.

From: paul canton 18 November 2016 09:23 AM

Well said David, I have spent years rebuilding properties that no one else would touch. It costs in time, money and worry. I then rent the property at less than the market rate, obey all rules from government, and councils, treat my tenants with the respect due to a fellow human. why then are people like me vilified for being constructive. I could invest the money I have worked hard for in something other than property but I 'know" property and see the improvements I make as a more constructive force than buying shares. Between the lines Mr Newman is articulating two ethical problems 1/ what to do with the money you have that is beyond that which you need to exist. 2/ how to manage society so the basic needs of accommodation, food, and heat are available to all without higher than reasonably affordable costs. Only more council owned property that is kept in public ownership can resolve the hotly contested issue of the rise of the buy to let landlord........nothing else ! With all this brexit nonsense going on I do not know what Mrs May thinks about giving some thought to a massive building plan for state owned rented property. If this change was made Mr Newman and others of his view would have an option and never to need a home from the private sector again. I suggest using your vote.

From: paul canton 08 November 2016 10:15 AM

hmrc are a bunch of arsewipes........hope thats constructive criticism.

From: paul canton 16 August 2016 16:31 PM

its private unless your the chancellor, then tough luck. Of course he did it to avoid the higher rate.

From: paul canton 18 July 2016 14:14 PM

The new tax regime, will hit, and hard. Its true that many landlords have equity built up in their properties BUT the maths cannot be denied. Not being able to claim the mortgage payments on a BTL as a legitimate business cost must lead to some landlords selling. Each will have their own reasons. Were prices to drop by 20% and rents to stay the same, new money would look to the BTL market. Either way BTL will not be going away in the long or short term. Mr Osborne knows this and like all chancellors, he know an easy target when he sees one.

From: paul canton 21 June 2016 18:11 PM

In full agreement. My lettings agent has never charged tenants for anything other than a credit check(£58) and this helps create a good relationship with my tenants from the start. I have had several tenants who had let through F@@@@@s who were simply aghast at meeting a landlord and agent who keep costs down and standards high. Result: happy tenants, (never had a single missed rent payment), agent happy with their charge to me for the work they do, I ask for less than other landlords and never have a empty period. Simple business model that works if your not GREEDY.

From: paul canton 01 June 2016 11:30 AM

Brandon Lewis would not know a "fairer system" if it punched him in the face. Any policy that leads to higher rents which the new tax rules must, is not fair on the tenants...........have we forgotten them? Where are these 0% BTL mortgages available? I think you will find 25% is a realistic minimum for BTL mortgage lenders, where-as buyers who will be living in the property they purchase will find a variety of lenders and schemes to bring the deposit down to as little as 5%. The current Uk housing shortage (supply and demand) is partially caused by Mrs Thatcher under whom the building of council housing virtually ceased, never to start again in any meaning full way. Any government could help the housing shortage by reducing the right to buy scheme rather than expanding it, whilst building as many council owned properties as possible and renting them at 2/3rds the market rate. At this level Local councils would still make a profit and the private landlord would have proper competition on quality and price.....job done !

From: paul canton 28 April 2016 12:36 PM

The changes are set to hit all landlords of any size but its the mid to smaller portfolio the government must be after, say 3 to 5 properties with a heavy mortgage commitment. I have done a variety of maths on different portfolio models and 3/5 properties with a 75% overall mortgage are particularly vulnerable. Unless your lucky enough to own in an area where property is going up by at least 7% pa, it is probably best to sell a property and use the equity to pay off some mortgage payments on the others bringing them into profit. I don't know how many properties this policy would release onto the market but I think its inevitable that with in the next two years action of this kind will happen. This can only be good news for the larger companies able to withstand the assault and continue purchasing BTL. In my opinion government only wants big fish in this game and is taxing accordingly.

From: paul canton 28 April 2016 11:53 AM

Making money harder to get at for landlords will mean landlords put together larger deposits, a big enough deposit will always find a lender. First time buyers do now need some advantage. The only clearly knee jerk policy mr Osborne had put through is to cap mortgage relief. Thats the killer blow in his reforms for landlords. Quite unfair all other business that borrows to improve their business obviously claim the loan repayments as a capital outlay. landlords are no different, they are an easy target. my next vote certainly won't be for Mr Osborne's party. Who would vote for the party that stuck the knife in and twisted it?

From: paul canton 29 March 2016 13:23 PM

The answer is not to vote for this government next time. Im not a fan of Mr Corbyn either but I would have been amazed if he would have hit the smaller landlord and opened uo the market for the big guns to clean up. Before this attack on the BTY market I had some respect for Mr Osborne, no longer. He can kiss my vote goodbye.

From: paul canton 18 March 2016 10:11 AM

In most cases the buy to let landlords and the first time buyer do not come into conflict. Landlords as the article mentions buy "bad" properties and renovate them as these are the cheapest and generally un mortgageable. Private landlord have massively helped to turn around ex local authority blocks or crumbling property in depressed areas that were once "no go" areas by investing in essentially decent but unloved property that successive governments have seen as a millstone around their necks, rather than a valuable commodity. Hitting the smaller landlords hard and giving the tax breaks to those with over 15 properties who have them under the banner of a company, is pretty typical of Mr Osborne"s aim of not taxing the very rich. In the case of landlords who take a huge risk on investing in property others won't or cannot invest in, removing the tax relief on mortgage payments will ensure many of these properties are not profitable; they will remain un inhabitable and un mortgagble, job well done . How does a government claiming to have housing in its sights fail to see this fact ? Easy.... they are quite out of touch. Tenants want decent property at an affordable rent, I would like to see a change in the system to allow landlords to offer 5 year tenancies without granting the tenant any further rights than those in a typical AST. At present any agreement over two years grants tenants rights. Why is no one talking about this. Granting a five year lease could lower rents as the usual empty periods would be fewer and most landlord I know tend not to put the rent up for good tenants who look after the property and pay the rent. This single change would help families who rent and want stability as well as students who do not want to move three times during their degree. A 5 or 6 year AST is usual in Germany where rental costs are lower and quality of accommodation is better than the uk.

From: paul canton 18 March 2016 10:00 AM

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