Struggling BTL Investors

neverdespairgirl

My parents bought a 3 bed maisonette in Blackheath when they married, in 1974. They were 25 (my Dad) and 27 (my mother) and were respectively a barrister and a teacher.

There's just no way a barrister and teacher could buy that place now.

ILW

neverdespairgirl wrote: »

My parents bought a 3 bed maisonette in Blackheath when they married, in 1974. They were 25 (my Dad) and 27 (my mother) and were respectively a barrister and a teacher.

There's just no way a barrister and teacher could buy that place now.

I would guess joint income around £80k
Easily affodable mortgage £250k
Would get a 3 bed terac within 1 mile of Blackheath.
Blackheath is probably one of the most expensive areas of SE London.
Pay off some equity and move in a few years.

chucky

neverdespairgirl wrote: »

My parents bought a 3 bed maisonette in Blackheath when they married, in 1974. They were 25 (my Dad) and 27 (my mother) and were respectively a barrister and a teacher.

There's just no way a barrister and teacher could buy that place now.

Waltham Forest may be the next Blackheath.

It's not really comparable to look at property or desirable areas to compare historical anecdotes. Areas change along with the amenities and transport links, the diversity of the population also changes that obviously impacts house prices.

Pobby

What I find so terribly suspect is that Gordo and his gang rely on the ability of certain individuals to solve the housing problems of this country.

Whilst, I am sure, there are some landlords out there who run there properties in a business like manner it is becoming more and more evident that a whole bunch of b t letters havn`t got a clue and are now in trouble. Shocking!!!!

silvercar

silvercar wrote: »

In the mid 80s we bought a 2 bed flat in a london suburb for 2.5 x 2 new graduate salaries, the same flats are available now at 2.5 x 2 current new graduate salaries.

NDG wrote:

Where in London?

North Finchley.

We paid 48k when our salaries were about 8k - then newish graduate salaries.

Now the same flats are going for £170-180 and newish graduate salaries for the same jobs are upto 30k.

The area has actually improved, the vue cinema complex was just an open air pool when we lived there.

islandannie

neverdespairgirl wrote: »

My parents bought a 3 bed maisonette in Blackheath when they married, in 1974. They were 25 (my Dad) and 27 (my mother) and were respectively a barrister and a teacher.

There's just no way a barrister and teacher could buy that place now.

Absolutely laughable.

The educated plumbers and brickies did better than that.

Gorgeous_George

If BTL LLs pushed prices higher for FTBers buying then it is fair to say that, without FTBers, LLs could have bought cheaper and reduced the rents that they charge. Each is a problem for the other.

In my case, I didn't BTL to make a profit. I bought to prevent some undesirable buying the house next to my parents. Profit (if there ever is any) is incidental but, I admit, I don't make a real loss.

I've never been a tenant but if I was, I'd like me as a LL. My tenants are safe in their home, possibly safer than me. I would take a lot of pain before I exposed my tenant to any discomfort. That is how it should be. After all, my tenant pays for me to manage her home.

GG

DawnW

islandannie wrote: »

Absolutely laughable.

The educated plumbers and brickies did better than that.

What??

Kenny4315

leveller2911 wrote: »

Like to put a few facts up for you Kenny....Within 3 weeks of birth diagnosed with chronic Asthma and Eczema....School life rarely put in a full week due to hospital visits and chest infection etc(poxy oxygen tents).I did the best I could at school,left and went to college(paid £27-00 per week 1st year rising to £60-00 wee for the 2nd year.Did my apprenticeship and started working for a company.I could have signed on the disability but didnt ..
The company I worked for were great, worked on a sub-contract basis so no work no pay.Worked hard and saved up

So it is your health and NOT BTL's that has prevented you ?

I missed 1 full year off school 4 months in hospital on traction, then wheelchair then crtuches. I have a bent spine, as I have pins in my legs, bad knees, I have a cervical rib (a genetic discorder where my neck vert thinks it is a rib) it gives me common serious migraines. I had a hernia when I was 1, I had my tescticle removed at 20 (as a testicular cancer precaution), and have has 2 chest ops. I have also had major clincial depression and a load of other stuff.

I can also go to a gym and pull a 220kg deadlift. Have a resting heart beat of low 40.

So to be blunt BTL ain't the reason you have not bought, is it ?

Cleaver

islandannie wrote: »

Absolutely laughable.

The educated plumbers and brickies did better than that.

You're quite vile aren't you?