Darwinian natural selection will ensure property will once again boom.

vigesimal

olly300 wrote: »

Equity in their own property not tax breaks meant BTL were buying properties that first time buyers want.

If your a seller you normally sell to the person who has the most money.

We weren't talking about BTLers putting a secured loan against their own homes, we were talking about the tax relief that BTlers get on the mortgage interest that FTBs don't get.

ixwood

What a load of rubbish.

tomstickland

What about the Octagonal Linear Element Extension Propogation Theory?

ixwood

The theory might be fairly sensible if buying meant you had more kids and or kids with an improved chance of living to child bearing age. And you died before child bearing age or had less kids if you didn't.

This is clearly not the case.

blisk

HITHM thread, the man is a legend in his own time.

fc123

Conrad. A read of ''Enough'' by John Naish may interest you.
He puts it down to the fact that humans are wired to always keep wanting more.....emotionally, materially, in every way......we can't help ourselves and it takes strengh of character to draw lines under each area of ones life and tick the ''Enough'' box before moving on to the next need/want.

I still believe that your investment £££ may be better invested in a business created from a unique or niche idea or product.

This young couple did that...usual stuff, idea and then executed well...but it was when I read their T/O figures (!) that I gasped. Obviously in this sector one has to keep moving on with new concepts but It's inspiring.
http://business.timesonline.co.uk/tol/business/entrepreneur/article4925471.ece

Better than the old property game...that ones on ice for a while.

chucky

vigesimal wrote: »

They are tax breaks that a first time buyer doesn't get and BTLers usually buy the properties that first time buyers would get. These are unfair advantage and not in the interests of being "fair and competitve" which is the sort of market lethal0r wanted to ensure the governement did.

at least you've realised that your wording was incorrect, but still you've managed to get it wrong.

it is not a tax break, it's an expense.
a BTLer has purchased a property and is paying interest on their mortgage for the property. like any investment interest payments are classed as Expenses. if you consider this a tax break, i suggest that you contact your local MP to bring it up in Parliament to stop any business doing the same on any loan they may have on property, machinery or any equpment.

vigesimal wrote: »

However, with house prices crashing, I think you might have preferred to put whatever equity you may have left in your BTLs at the moment, into Icesave.

lol - it's pretty obvious that the BTL hatred was where you were going with this.

a couple of points so that i can take the opportunity to educate you and respond to your pathetic comments:

1. the price i pay or have paid for a property is unavailable to you, it may be 20%, 30% or even 40% off 2007 prices, you just don't know. so losses for me would be quite far away for me, in addition they are in key areas of Central London.

2. the yield i receive on these properties is good for me - in addition the yield is increased by the tax advantages i can generate from other income that i have.

3. the tenancy agreements that i have are medium term - so there is an income stream there too.

i have more points to tell you but you probably wouldn't understand so i'll leave you with these until you come back with another waste of time post unless of course you send me a personal message and we can discuss it without boring anyone else.

carolt

You are so funny, chucky!

So a FTB who buys the same property as you and who cannot reclaim the tax on the interest they pay for their mortgage - it comes out of pre-taxed income - is not in a worse position than a BTLetter, who can?

So how is that?

And when you compare yourself to other business buying for example, machinery or equipment, presumably you are referring to productive businesses. The problem with BTL is that you don't actually produce anything - by the unfair tax breaks mentioned above, you are able to outbid a would be homeowner from owning their own home.

A house is NOT a business - it is a home. You're not renting out business premises which are optional. Your income streams relies on depriving others of an essential - a roof over their head - or your 'business' plan would fail at the first hurdle.

You know it and are at best disingenious in pretending you have no idea..

chucky

CarolT - i know 100% what I was saying. there's no point in answering your questions because you're too much anti-BTL and too pro-HPC too listen to someone elses argument.

the above was in reply to vigesimal's post on tax relief not on justifying BTLing. his/her post was wrong, end of.

please don't try and preach the anti-BTL rubbish because my BTL's are part of my business and yes they are commerical loans. one of the flats is used by a solicitor as his office - so something is produced.

i can't justify BTL, because I rent a property during the week in the City and own my own home which I use whenever I need to - so I can be a Bear or a Bull, this depends on what my requirements are.

to be clear I'm definately not a pro-HPI or pro-HPC, I'm neither - prefer to be realistic in all of this unlike yourself.

and you probably also meant disingenuous not disingenious.

carolt

Quite correct re the spelling . Thanks.

Re the rest of it - glad you agree that BTL is no more a productive business than banking - and likely to go the same way.