Aldermore Share Discussion Threads

[rubberbullets] 31/12/2015 09:07

getting a clip on

[johnv] 27/12/2015 18:17

Cherie with her own portfolio of houses.

[aishah] 27/12/2015 17:19

Buy-to-let investors to challenge tax hike in court

Landlords are clubbing together to fight the Tory's tax hike – and they have appointed Cherie Blair's law firm to help them

By Richard Dyson
1:03AM GMT 26 Dec 2015

Wealthy property investors are mounting a legal challenge to the Government's proposals to increase tax on buy-to-let investments.

They hope a judicial review will overturn the controversial "Clause 24" of the 2015 Finance Bill, in which the Government introduced plans to prevent landlords offsetting mortgage interest costs against rental profits before calculating tax.

These tax changes, which will apply to existing investment properties as well as future purchases, will result in some buy-to-let investors paying tax even where they generate no profit or are loss-making.

In this case the judicial review – a legal process in which a court reviews legislation or administrative decisions – needs to be submitted by February 17, 2016.

The challenge is being led by millionaire private landlords Steve Bolton and Mark Alexander.

Mr Bolton, who owns about 20 residential and commercial properties, is also the founder and owner of Platinum Property, a buy-to-let training franchise whose members' portfolios are worth a total £200m.

Mark Alexander is founder of online buy-to-let forum Property118.

The third figure involved in the action is Chris Cooper, a modest investor and part-time landlord who - like hundreds of thousands of others - is using buy-to-let as part of his pension.

In an ironic twist law firm Omnia Strategy, founded and chaired by Cherie Blair QC, the wife of Tony Blair, has been appointed to represent landlords' interests.

Landlords will argue that the Tory's tax move flouts "a long-established principle of taxation that expenses incurred wholly and exclusively for the purposes of the business are deductible when calculating the taxable profits".

Although buy-to-let investors have met with little support from any political party, their objections to the tax changes are widely supported by the accounting and legal professions.

The Institute of Chartered Accountants in England & Wales (ICAEW) has attacked the removal of mortgage interest relief as "unreasonable, unworkable and unthought through".

It has pointed out that those worst-hit will be small property investors, including middle-class savers adding one or two buy-to-let properties to their pensions and other portfolios.

[nw99] 21/12/2015 08:25

Could well be tipped in the new year share tips

[mikeja] 18/12/2015 13:50

235-240 would form the shoulder of a reverse head and shoulders which would be bullish for the medium term. Still selling on less than 10x earnings for 2015.I expect the directors will want to pull out all the stops on y/e earnings.

[gucci] 18/12/2015 13:39

Tucked away for a decent rise here

[opodio] 18/12/2015 13:24

Think I'd be adding here , there's an almighty blue sky breakout on the way imo.

[opodio] 18/12/2015 13:08

Looks like 300p in new year

[nw99] 17/12/2015 09:21

Tucked a few more this am for Sipp love the chart action

[dlku] 17/12/2015 08:57

This and SHAW wants to rally hard

[dlku] 17/12/2015 08:41

chart 300p

[aishah] 16/12/2015 12:31

Aldermore launches mobile-optimised applications

Rozi Jones 14 Dec 2015

Aldermore has updated its online forms for residential and buy-to-let mortgages as well as bridging finance enquiries.

The new forms are the first step in the application process which has been optimised for mobile and tablet viewing, and also enables commercial landlords to integrate with Companies House filings.

The forms include:

- A redeveloped Residential Mortgages enquiry form for both direct first time buyers and customers looking to remortgage.
- A new direct buy-to-let enquiry form catering for both residential and commercial landlords.
- A new direct enquiry form for Bridging finance (also includes Companies House integration).

Charles Haresnape, Group Managing Director – Mortgages at Aldermore, said:

“These changes will make it easier for our customers to begin their applications and build on the work Aldermore has done to improve on-line forms across all sectors. Aldermore prides itself on responding to customer feedback and improving our processes accordingly.

“The way customers search for financial services is changing, with 50% of our residential mortgage traffic coming via mobile or tablet, optimising and streamlining more of our online application process for all forms of technology allowing our customers to manage their finances on the go.

“The new forms look to make the application process as easy as possible, for both residential and commercial applicants, and the integration with Companies House will help reduce the amount of information customers are required to pre-fill.”

financialreporter.co.uk

[opodio] 16/12/2015 12:14

Looks like 300p in new year

[nw99] 16/12/2015 09:38

Bought here chart bottom

[future financier] 16/12/2015 09:34

I hold both (now) - to my mind SHAW is the better long term prospect although it has a major private equity shareholder that is steadily offloading. But even after a 10% bounce ALD still looks cheap.

[albanyvillas] 16/12/2015 09:19

Is shawbrook SHW worth adding?

[davr0s] 16/12/2015 09:12

My eyes must be deceiving me - piece on bbc website titled Carney promising action on BTL, but price action suggests that drop may have been over exaggerated. Hopefully £2 was the floor

[albanyvillas] 16/12/2015 09:06

chart bowling upwad

[albanyvillas] 16/12/2015 08:48

BTLers are a hardened bunch. Im one and im going to buy another next summer.
Rents have never been stronger

[mikeja] 16/12/2015 08:46

This government has a vested interest in keeping house prices high. As long as that continues there will be BTL investors.

[albanyvillas] 16/12/2015 08:41

250p-270p prob a good target

SHW and OSB going up also

[paleje] 16/12/2015 08:25

Well spotted bsdjj, that backs what Claire Cordell at the bank told me yesterday.

I asked about the share slide, causes of, any operational reasons, director purchases, media stories, sector weakness.

She was reassuring, acutely conscious of concerns but can't issue statement until something firm emerges from Basel proposals, that appeared to be the only fly in the ointment and they are meeting treasury officials Weds with some other banks, would like air cleared and split fact from speculation. Didn't think it would be as harmful as some speculate and may not be at all, director purchases were made as they believe the shares offer great value. Not entirely clear what govt hopes to achieve by attacking the sector and are putting their views strongly as govt has been supposedly championing the rise of smaller banks, they do not lend irresponsibly, the smaller building societies are more likely to. Was a bit more nothing price sensitive just good common sense.

[bsdjj] 15/12/2015 19:17

So things might not be as bad as feared....http://news.sky.com/story/1606443/dont-panic-pra-boss-tells-challenger-banks

[geoff21] 15/12/2015 14:55

Won't take much to get this moving up, oversold and volatile. 250p reasonable target as long as overall market is supportive.