| Topic: | Re:Re:Re:Warning from the Bank of England | |
| Posted by: | Adrian Irving | |
| Date/Time: | 15/07/15 17:48:00 |
| Personally I am quite happy to see a rise in interest rates if it gives the first time buyer a better chance. Higher rate tax payers in the buy to let racket will feel an icy draft with a double whammy of high interest rates, reduction of tax relief to the standard rate, tax relief only on what they actually spend on the property (not the automatic 10% as present) plus slow or even negative capital growth. That’s a quadruple whammy in fact. A lot I know have highly geared interest only loans as well and if you are a non-dom... Oh dear, poor souls. Time to sell ? Great, good business for me thanks’ very much. |