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The Property Podcast

TPP371: Universal Credit: Why every property investor needs to understand it

The Property Podcast

Rob Bence & Rob Dix

Business News, News, Business, Education, Investing

4.82K Ratings

🗓️ 23 April 2020

⏱️ 27 minutes

🧾️ Download transcript

Summary

Rob & Rob are back again this week and this time they’ve got one of our favourite podcast guests joining them. Mark Morris.  You’ll probably remember Mark from a few months ago when he was sharing his investor story - the one that got everyone buzzing! Well, he’s back again this week to discuss Universal Credit after making himself somewhat of an expert on the topic.  Most investors are only aware of Universal Credit coming into play a few years ago when the government rolled a number of benefits into a single payment directly to the claimant. The government were aiming to do two things: Combine several benefits into one Ease the transition of claimants back into work Naturally this caused problems for landlords as they were no longer getting paid directly from the government.  It’s now got to the point where, as an investor, it’s something you need to be clear about. And that’s why we’ve invited Mark Morris into the podcast studio to educate us all, including Rob & Rob… And as promised, here are all the links you need which Mark refers to on today’s podcast: LHA rates linked in article DWP Universal Credit Landlord page Information-for-landlords Mark Morris’ Linkedin profile   In the news this week, we’ve got ‘demand for stamp duty holiday to reignite the housing market’. Rob & Rob have had a couple of messages this week from people who have been getting excited about the prospect of a stamp duty holiday.  However, that’s all just hearsay right now, and something that people have been saying should be done. But isn’t necessarily coming into play.  Will it happen? We’ll have to wait and see, but it’s certainly something that would benefit the housing market.    This week’s Hub Extra is something that will keep the kids quiet for a bit and do some good at the same time. It’s a service called Goodnight Zoom that matches your child with somebody who’s elderly or isolated and gives them a way to read a story together over Zoom.  How lovely is that?! No, we’re not crying, you’re crying!    We’d love to hear what you think of this week’s Property Podcast over on Facebook, Twitter or Instagram. You might even have a topic you’d like us to cover in the future - if so, pop us a message on social and we’ll see what we can do.   Make sure you’ve liked and subscribed to our YouTube channel where we upload new content every week!  If that wasn’t enough, you can also join our friendly property community on the Property Hub forum. See omnystudio.com/listener for privacy information.

Transcript

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0:00.0

Universal Credit.

0:03.4

As a property investor, even if your tenants don't use it, it's really important to understand, because at some point they may,

0:10.4

especially if the economy takes a dip or things become a little bit more unstable.

0:17.0

Welcome to the Property Podcast where every Thursday property investors come to be informed and inspired.

0:26.4

Today we've got one of our most popular ever Property Podcast guests back on the show talking

0:31.5

us through a very timely and important subject which if you

0:34.6

like most investors you won't know nearly enough about and as if that weren't

0:38.6

enough stick around to the end because we've got a resource that will help you keep

0:42.0

your kids quiet and do something good.

0:44.8

For our news story this week the headline reads demand for stamp duty holiday to

0:49.0

reignite housing market. Now everyone loves a holiday and property investors would really love a

0:54.7

stamp duty holiday. Rob can we get excited? Not quite yet. We've had a couple of

1:00.1

messages about this this week from people who are starting to get excited about it, but

1:04.3

it's important to say at the moment this is not policy or anything close to it.

1:09.2

This is just people saying that this is something that should be done.

1:12.0

So a couple of weeks ago, Rickicks, the Royal Institute of Chartered Surveyors,

1:15.5

put something out saying that for a period of time

1:18.0

after lockdown restrictions are lifted,

1:20.5

stamp duty should be taken out of the picture to encourage the market to come back to life,

1:25.0

and this week both Right Move and Night Frank have said something similar.

1:30.0

Would be lovely if it happened, and it's not the most bonkers idea I've heard.

1:34.2

We saw a few years ago when Stamp Duty was due to go up for investors.

...

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