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The Rise and Rise of Buy To Let.....
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My advice is screw everyone else and their kids, just look after your own. Even if that means multiple buy-to-lets and squeezing tenants for every last penny. Family comes first.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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Our children are now 17 and 15 and will hopefully go to Uni but with the amount of debt they will come out with they'll be lucky to secure a mortgage. And I'm certainly not going to apologise to anyone for working my @ss off to help my kids.
Fair enough, but have you stopped to consider part of the reason that your kids might well struggle to afford a place of their own ?30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
Turnbull2000 wrote: »My advice is screw everyone else and their kids, just look after your own. Even if that means multiples buy-to-lets and squeezing tenants for every last penny. Family comes first.
That's the spirit !30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
fair enough. Just as long as you have the same attitude when someone burgles your house to provide for themselves and their family. Or when someone sticks a knife to your throat and demands your money.
If you have no care for your moral obligations then you shoudl expect others to have no moral obligations to anything you own.
Sadly, i suspect you have double standards.
Last time I looked, burglary and holding a knife to someone's throat was a crime. Working your rocks off and having a second mortgage to fund a BTL property wasn't. Or maybe you think it should be.Mortgage When Started in Dec 2006 = £160,699
Amount owing in Jun 11 = £128,400
Mortgage Free Date =Dec 2026 :eek:0 -
Fair enough, but have you stopped to consider part of the reason that your kids might well struggle to afford a place of their own ?
Yeah, they'll be too busy paying off their Uni fees and associated debt.
Mortgage When Started in Dec 2006 = £160,699
Amount owing in Jun 11 = £128,400
Mortgage Free Date =Dec 2026 :eek:0 -
Yeah, they'll be too busy paying off their Uni fees and associated debt.
I thought that the amount they repay is proportional to their earnings. If they start on £22K per year, I doubt the monthly repayments will be exactly massive, but I might be wrong.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
I thought that the amount they repay is proportional to their earnings. If they start on £22K per year, I doubt the monthly repayments will be exactly massive, but I might be wrong.
Don't think they have to pay anything back until they're earning something like 25k but that's not a huge amount these days, is it? 25k pa and repaying a student loan isn't exactly going to let you save for a desposit, let alone service a mortgage.Mortgage When Started in Dec 2006 = £160,699
Amount owing in Jun 11 = £128,400
Mortgage Free Date =Dec 2026 :eek:0 -
with the present scheme one pays 9% of everything over 15k
but with next year's scheme one will pay 9% over 21K0 -
25k pa and repaying a student loan isn't exactly going to let you save for a desposit, let alone service a mortgage.
Well, if your offspring can't save a deposit while earning £25K pa, then it's a good job they've got parents who are helping them out. Maybe if they knew they'd have to look after themselves financially, it would focus their minds.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0
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