Hate Buy 2 Let

nearlyrich

spurs_nut wrote: »

[
Ok, I am a very unhappy person and yes, I does make me feel big.

What you going to do about it

Nothing at all, just wanted to highlight how immature you sound;)

spurs_nut

nearlyrich wrote: »

Nothing at all, just wanted to highlight how immature you sound;)

You know what they say..........


Monkey see, monkey do :cool:

MortgageMamma

spurs_nut wrote: »

MortgageMamma wrote: »

No, I would class myself as being on a average wage of 18k a year which may not be much, but I get by and am satisfied with.

I have a nice little golf Mk4 which I am also very satisfied with

And like I said, I'm now purchasing a 3 bed semi detached for 140k with my fiancee because we have worked fcuking hard to get were we are. I would consider myself to have taken responsibility for where I am today and I extremely happy where I am. I wouldn't want anything more.

However, I get extremely agitated when numpty's like yourselves are so far up your fcking !!!! that you think your better than everybody else because you earn a few extra £1000 a year.

Bollox.

As for a silver spoon, looks like I've hit a nerve there Bigfatmomma!!!!!

How does it feel never having to be working your !!!! off to get where you are and to be handed everything on a plate?

The op has an opinion, and your making assumptions of what sort of background they're from?????

jokers,

But then that's to be expected from a bunch of Torie loving toffs.

oink oink :rotfl:


p.s I pity you more lol

Actually you t0sser I was born and bred in salford and lived in a council house until I was 25. I was a single mother of two girls and then I had my moment of realisation, I got of my BIG FAT !!!!, got qualified and I grafted for everything I have got, and then when the time was right I went self employed. I dont have a lot in monetary terms but my lifestyle is absolutely fantastic, so frankly, you have not hit a nerve, all you did was astound me with your small minded accusations and you pathetic attitude to life. If your happy being Mr Average with an average house and an average job and a completely average life then good for you, but some of us want more, some of us have the drive and the mentality to achieve more, and if you can't handle that then you are the one with the problem!

Rick62

Just to get back on track - of course buy to let has contributed to rising prices. What people object to is that a basic neccesity of life, housing, has been turned into a speculative bubble.

Renting is not as good as owning, you usually only have 6 months security and you'r not aloowed to do much to the place. But if you buy, the bank might lend you the money, but to borrow 5 x joint income at the top of a speculative market?

Property is not a natural market because of planning restrictions. If the government freed up the market, ensured that more planning permission was given for quality property developments (not just !!!!, sorry, luxury, 1 and 2 bed flats) so there was choice of property then people would not care about btl. People could then have the choice of renting or buying something reasonable.

Why shouldn't people be glad to see property come back down to affordable levels? And if that means a few greedy and stupid btl speculators get burned then so what?

UK007BullDog

Well I am with feet in both camps. I think this whole BTL is the main source of fueling the house prices up. I KNOW that some new developments nearly 80% of the property are sold off plan to investors and not people wanting to live there. Maybe the government needs to step in and put a caveat in place which guarantees that more of the properties are sold to first time buyers of families.

Also what is this building craze of studio flats and one bedrooms? And they are all so tiny.

Been looking about ourselves and we are actually downsizing and we cannot afford it even with 2 above average salaries we cannot do it. So we have been going further out of London into the outer suburbs and outside the M25 ring and still we cannot afford to buy as everything is so expensive.

Also every customer I see who has a property wants to keep their present home when buying a new one. They all dream of BTL property riches and I constantly have to tell them they are liable of tax, any void periods, responsibility of paying 2 mortgages if not let, repair costs, maintenance, insurance, protection, mortgage costs, etc. Then it no longer looks so rosy.

Also the repossession rate has increased dramatically and if there were more rate rises to come...... Don't know what will happen then.

Rents have gone up like crazy too to cover the mortgage costs of the BTL investors. A 4 bedroom new build is going for £1300 pm. Who is going to pay that in zone 4 with travel costs of £137 pm to get into the city to work.

I really don't know what the future holds but I have put down the gauntlet and challenged myself to find a nice property in my price bracket. Every weekend I will try to search the net and still do my studies somehow.

MortgageMamma

I STILL cannot understand what all the fuss is about with home ownership . To me, it seems we have become a nation of egotistical snobs who are obsessed with owning property. Really, its no big deal whether you rent or buy so long as you have a nice and fulfilling life

You cant take your property with you when you pop your clogs. What do you think people will say about you when you die? "joe bloggs was a really special man because he worked his nuts off to buy the three bedroom terraced number 146 park street?! :rotfl: Perhaps we should start carving this into headstones, so everyone knows you were a complete martyr and a slave to your mortgage until the day you died.

Really, life is about living, its about lifestyle - there are so many other things you can achieve that are more important than home ownership

For those of you who are of the "I want to leave something for my kids" mentality - why does that something have to be bricks and mortar? why not spend the money you would on a mortgage deposit and start a business and leave them that as an inheritance? your house could be worth a lot less when your offspring are old enough to inherit it than it is now or even what you paid for it. And what do you think they are going to say? "This means a hell of a lot because my parents worked their fingers to the bone to pay for it?" are they hell, they will most likely fight about selling and making money from it one way or the other. May as well just stick some money into an investment for them

Its my opinion that the best thing you can pass on to your children is how to live a fulfilling and rewarding life, tell them stories about all the things you have done and the places you have been, the things you have achieved, a head full of memories and admiration is better than a pocket full of cash any day.

I personally would like to see the buy to let market do well, with more higher quality and executive properties on the market, and hopefully that would help create more competition between landlords and bring up the standard of rented accomodation in general.

MortgageMamma

UK007BullDog

The only thing I can see why home ownership is positive is that IF you pay your mortgage off before retirement you live rent or mortgage free.
Most people do not think what will happen once they reach the magic retirement number. Most do not know how much pension they will get per month. Most do not know how they are going to pay all the required costs like rent/mortgage, council tax, gas/water/electricity, possible service charges, possible car ownership, insurances, then food, clothes...... If you can get rid of the biggest cost (the mortgage or rent) then your pension might just allow you to EXIST until you die. Forget holidays and nice days out.

MortgageMamma

Yes but its quite possible to invest in a pension fund sufficiently to provide an income on retirement if you are not overstretching on a big mortgage

What happens to pensioners when they get ill and infirm anyway? If they dont have long term care policies or well off relatives to pay for private nursing care the council take the house they worked themselves into the ground for and sells it in order to pay for the poor quality overpriced care they are subjected to

Rick62

This is certainly the issue. Renting or buying when you are working is not a big deal, but if you don't own a place once you retire you're a bit stuffed. Unless you think pension providers and the government are going to look out for you - in which case you're already ga-ga.

UK007BullDog

Yes, but investments have an element of risks and the return might not be any were near the required amount at the time of retirement.

Human basic needs are a roof over ones head. I personally believe this is one need that is too risky to be played with so would always go for a repayment mortgage.
Also because of my age I am starting to think about what I want to do when I am 65 and paying rent or mortgage does not feature. I am worried about my lifestyle once a pensioner, I don't want to have to burn furniture to keep warm in winter, nor do I want to request help or receive a £5 heating voucher from the government. So my thinking is quite conservative when it comes to housing.
However separately from that I use my ISA allowance and I also invest in a pension (Low to medium risk) and other investments (medium to high risk) to make sure I have a decent retirement. Where I can then chose to work because I want to not because I have to.

In some countries you have to put down at least 30% deposit (Germany) and in Italy I was told it is at least 50%. In some countries you do not even have mortgages so its a 100% cash buy (where the whole family helps the FTB).

In the end if everyone were to stop chasing and stopped buying the property boom would stagnate or fall. I wonder if the Tories came to power if it would affect the housing market?