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10% yield on a BTL
This is on Rightmove: http://www.rightmove.co.uk/property-for-sale/property-73505510.html Including penalty stamp duty that would cost £41.2k to buy. It's tenanted and letting at £5,700 a year. So let's say you're an absentee landlord and you bought this place without ever leaving London. You'd pay 15% of the rent for…
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Remoaners Revenge...
Nice to see their latest efforts to sabotage what was a democratic vote to leave by preventing the possibility of a prorogued parliament as a method to get a no deal brexit through. Well done, you have just removed the leverage we needed to get a better deal and if we don’t leave on the 29th Farage will be laughing all the…
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What are residential rental yields really like...
Studio flat, central Birmingham On the market for £149,950, previously £155k (so lets say £150k) Currently rented at £595 PCM (£7140 p/a) 7140/150000*100 = 4.76% yield but! Ground Rent - £175 P/A, Service Charge - £1,791.52 so £2000 p/a Agent fees of 10% (£700) 7140-2700 = 4400 4400/150000*100 = 2.96% yield Simply…
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Nationwide up yet again
0. 3% MoM, the doom squad and Brexiteers must be pulling their hair out :rotfl:
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It really really really really.........
I often read HPC.com for amusement and just to make sure this kind of daft ideology is thankfully not growing and is kept to the less than 1% that support it. But I actually laughed out loud for real when yet again I read one of the more daft dozen or so regulars post from Bruce Banner, yet again "it really really really…
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Wean off from HTB and still build promised amount of new affordable homes
How can the government wean off HTB and still meet the promised number of new affordable homes? The HTB ponzi needs new suckers to join the bottom of the pyramid scheme. HTB 1 was increased so that HTB 2 was 40% interest free loan for longer and a lower deposit HTB 3 will need to be 50% interest free for 6 years with only…
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Council shared equity Or DMS advice?
Does anyone have any first hand experience of this? We are in the process of possibly purchasing a 3 bed apartment through this scheme it’s in a desirable part of London and the in next 5 years the development is going to grow and they are converting Chelsea power station into shops, restaurants and other apartments which…
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New-build 21st century slums
Shoddy, unfinished, and sold by a powerful oligopoly, Britain's new-build homes are a scandal Kelsey Aldritt was so concerned about her new Persimmon home in Pembroke that, after moving in, she hired an independent surveyor. Kelsey was “horrified” to find 167 snags, including insufficient fire-barriers – a fault Persimmon…
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Looks like student accommodation funding has dried up
https://www.rightmove.co.uk/property-for-sale/property-73644167.html Selling individual student flats, in a development not yet built. It's not the only development selling units either. 8% Net return assured for 5 years Payment Plan: Option 1: 25% On exchange, 25% 1st October 2018, 25% 31st Jan 2019, 25% on completion…
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Return on BTL equity
I have a BTL with a £289k mortgage, that's worth about £900k (conservatively). If sold there would be CGT of about £100k. The net equity is therefore about £511k. It lets for £2400 a month; after management charges, tax and other costs I reckon the net is around £9k a year. The true net return on this as I see it is 9/511,…
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Why are property prices so different in the north?
I moved up north to Manchester quite recently mainly because I couldn't afford the property prices 'down south'. Now I've moved up here, I've got a range of new opportunities and I'm getting a lot more value for money on the property front. Thing is, anybody, know why property prices are so different in the north? It…
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Lowering Taxes
Boris Johnson - Tax proposal: Raise higher-rate income tax threshold to £80,000 from £50,000. The measure would cost £9.6bn a year. Jeremy Hunt - Tax proposal: Cut corporation tax from 19% to 12.5%. Some economists argue cuts could boost revenue if more businesses locate and invest in Britain Hunt’s proposal could cost…
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There is nothing special about the nhs
Lots of other countries have different systems Lots of other countries have better outcomes at lower cost The nhs does not needing 'saving' or 'protecting' It needs modernising to be fit for purpose and affordable on a sustainable cost reduction path that gradually reduces its responsibility and public expectations thereof…
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London - how much lower than the Rightmove asking price should I offer?
Hi All, I am going to put my first offer down hopefully in the next couple of weeks. I am finding properties on Rightmove in London. In this current climate, if a property it's advertised as £450K, would offer 10% less be a good strategy? I guess it really depends, but it would be great if you could give me some general…
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Do you want clock changes or not?
There is a news that EU (and possibly UK too) considering scrapping of clock changes. What do you want? I prefer summer time / BST all year. Dark winter evenings are depressing (especially while coming back from work). Don't mind going to work in dark ;)
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The window where you can put off buying a home is tiny
For those who are constantly spouting on about hold off buying property, the worst are those who are now committed from having made that awful decision years ago and even decades for some, who now are conning the younger generation now of house buying age to do the same as they did. In 2019 there is probably the smallest…
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Do you want house price to rise or fall?
Just a simple poll to see what MSE members want. PS: Please assume rise means a value higher than inflation and similarly, fall means value lower than inflation adjusted figures. Alaternatively, you can also consider rise = average house price / average income => ratio going up fall = average house price / average income…
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Nationwide YoY up 0.5%
https://www.cityam.com/uk-house-price-growth-slips-in-june/ It's just not getting easier for the doom mongers/bears, just hope their Bitcoin gamble pays off for them, it's their only chance now
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Help to Buy?
The Conservatives flagship policy to help people afford to buy houses through Equity Loans has been investigated by the National Audit Office ...... https://www.nao.org.uk/report/help-to-buy-equity-loan-scheme-progress-review/ The scheme has loaned £11 billions to 211,000 people who had difficulty raising the loan value on…
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Negative interest rates
Will any bank pay me to take out a loan? Simon Black the sovereign man says it actually is possible right now. Why would the bank pay you? If the negative interest rate is more than the rate they pay you then the bank still makes money on the loans. If the bank can still make a profit on the spread they just want the…
