BTL landlords flourish as FTB's struggle

Percy1983

FTBFun wrote: »

I assume you mean the deductibility of mortgage interest from profits? In which case to be consistent you should also refuse every other business the same ability.

I will question if BTL is in fact a business, its not exactly the more work you do the more you earn. Buy house and sit back, not exactly work.

FTBFun

Percy1983 wrote: »

I will question if BTL is in fact a business, its not exactly the more work you do the more you earn. Buy house and sit back, not exactly work.

It is a business. Try and remove emotion from it.

DELLBOY_2

Percy1983 wrote: »

I will question if BTL is in fact a business, its not exactly the more work you do the more you earn. Buy house and sit back, not exactly work.

buy to let is a business with the same risks
ie bad tennant empty pro[erty damage house price fall etc etc

Percy1983

DELLBOY wrote: »

buy to let is a business with the same risks
ie bad tennant empty pro[erty damage house price fall etc etc

Not too much risk compared to reward.

If its empty you have to pay for you own asset for a few months (the horror of paying for you own stuff).

Damage, yes that may cost you coming, but hey you are getting a free house out of this so a little maintenance isn't all that bad.

As said previously it shouldn't be such a good investment, houses should be homes, not investments.

chucky

chucky wrote: »

Really? So every single available house in the UK is bought by a BTL buyer preventing private buyers buying a house.

I don't think even you believe that.

Sorry Percy, you seem to have forgotten to back up this claim that you made.

RenovationMan

ess0two wrote: »

Is'nt this what the MSE mass called for?remember those replies also,'be careful what you wish for'

Devon has been calling for this for years without really looking at the implications. No change there then. :rotfl:

RenovationMan

Percy1983 wrote: »

I will question if BTL is in fact a business, its not exactly the more work you do the more you earn. Buy house and sit back, not exactly work.

Wow, sounds like easy money! Where do we sign up?

paulmapp8306

RE building more homes - this needs a complete retjhink, from all parties.

Currently builders use traditional construction - which takes tiome and is costly, hence the price of new homes. There are other methods that are far quicker to build (so less labor costs) and also using cheaper materials. There not uncommon either as their used a lot in the US and on the continent. However, builder wont build taht way - why?

Secondly the lenders - Im not sure where they lie on this, but I get the feeling a mortgage for a building that isnt "bricks and mortor" but rather "wooden construction" of "flat packed2 (not prefab as we know it - but the newer designes) then getting a mortgage is much harder.

Thirdly - the people who will live in it. There seems (again though I may be wrong) a reluctance for people to buy timber framed, flat packed homes.

i dont know - but these packs cost half as much as a traditional build for a bigger home. There more eco friendly in general, and are just as substantial - certainly over a hundered hears or so. Seems to me if borrowing against such homes was easier, and the willingness to build and buy them was higher then the housing issue could be solved remarkably quickly.

ruggedtoast

This is very dependent on interest rates. If interest rates were higher, property prices would be lower, mortgages would be less affordable and buy to let would be less attractive.

In all honesty if I had £100k knocking around with nothing to do with it apart from watch it lose money on the stock market or in a bank account, I would spend it on property and rent it out.

You'd almost be silly not to, rents are stratospheric, your tenants have very few rights to trouble you with, and unless you bough a dive you can evict them and fill the void quickly.

At some point a government may come along which recognises the inequality of this immense differential in power and entitlement, but this is not that government.

Graham_Devon

The_J wrote: »

Just think about it you !!!!ing morons. That's all I ask.

No need to get quite so upset!