We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Do you pay stamp duty on buy to let?
Comments
-
You misunderstood his post.
The 'reckless fools' comment is in his signature and gets attached to the bottom of ALL his posts - it was not directed at you and was not part of his response!
Ah, I was wondering about that bit myself - I have my settings to not show sigs (*) so I wouldn't have seen that
(*) due to some annoying fools on another area using large fonts and (sometimes animated) graphics such that their sigs take up more space than the content of their posts - mind you, the sigs probably make more sense than some of the posts.0 -
Personally I see little point in sigs (except where used to declare an interest/professional expertise), but that's just me.
Sorry. Off-topic!0 -
I will get a better return for my money by buying a property and renting it out instead of the pitiful amount of interest currently being paid by banks and building societies.
A commonly repeated phrase that suggests you are gambling not investing. Property ownership is a business. With it go rewards as well as enormous risks. Remember the old adage "only gamble what you can afford to lose".
PS. Not suggesting that you are a "fool".0 -
Thank you to all except for Geoffky with his unhelpful comments. For your information,I am not one of the "useless fools" that you seem to assume. I am using my savings to buy,not borrowing,as I have worked out that I will get a better return for my money by buying a property and renting it out instead of the pitiful amount of interest currently being paid by banks and building societies. Thanks to the "reckless fools"! Perhaps you should check your facts before responding in the future?
FYI Geoffky was thanked 7 times for his post. Make that 16 times now.0 -
The original poster is clearly not looking for capital gains as they will be clearly making a capital lose in a falling market far worse than any savers account.
Lets hope they are making a traditional profit on rent after tax of 8-12%. Because they would be trouble if Greece defaults leading to Ireland to default and mortgage rates sharply rise.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
0 -
The original poster is clearly not looking for capital gains as they will be clearly making a capital lose in a falling market far worse than any savers account.
You've been spouting that same old rubbish for years now, ever since your 50% falls by Xmas 09 epic fail of a prediction, yet here we are with prices down just 10% from peak on average 4 years after the crash.
And in the meantime buyers have been able to take advantage of record low rates, while renters have endured record high rents.
Not to mention that according to RICS, 54% of houses in the UK are showing no change in prices at all. 8% are rising in price. And just 38% have shown any falls at all recently, and most of those microscopically small in nature.rent after tax of 8-12%. .
Well back when interest rates were 10% plus, that made sense.
Whereas today a yield of 5.5% or so is adequate, particularly if you're mortgage free as the OP is.
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Thrugelmir wrote: »Property ownership is a business. With it go rewards as well as enormous risks. .
Property ownership is nothing other than owning an asset. It's not a business at all.
I assume you meant "BTL is a business" with "enormous risks", which although a huge exaggeration commonly misused by posters on here to scare off newbies, at least has some tiny basis in truth.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Generally speaking, property ownership is most certainly a business - assuming at least that you are renting it out to someone. Holding gold or silver is not really a business, but if you have tenants then you have responsibilities, need to submit tax receipts.0
-
Apologies to Geoffly if I misunderstood. I understand the quote was not intended for me? I am not interested in short term profit,just a better return on my savings and a potential uplift in value over the next ten years,ready to sell for my retirement.Thanks for all the comments.0
-
Potential drop in value also possible ....0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards