Bank of Ireland tracker mortgage % increase

ILW

Can see there is a possible legal argument which will no doubt resolve one way or another.

It is rather pathetic though hearing landlords saying such things as "I am not running a business, it is just to pay me a pension".
If you want a profit it is a business and you need to act like a business person, I would suggest this involves getting contracts checked before signing them.

BR_Landlord

It is rather pathetic though hearing landlords saying such things as "I am not running a business, it is just to pay me a pension".
First posted by ILW

Only one person said this. You are being rather unkind. There is nothing wrong with investing in property for a pension as opposed to putting money passively into a pension scheme, remember that fat bloke....found dead on a boat.....he looked after pensions, spent all the money.

BR_Landlord

Robert Maxwell

leveller2911

BR_Landlord wrote: »

It is rather pathetic though hearing landlords
saying such things as "I am not running a business, it is just to pay me a
pension".


First posted by ILW





Only one person said this. You are being rather unkind. There is nothing
wrong with investing in property for a pension as opposed to putting money
passively into a pension scheme, remember that fat bloke....found dead on a
boat.....he looked after pensions, spent all the money.

Just a personal opinion but there are many ways in which to save for retirement but the BTL industry has stopped many FTB from buying a home. To you its a pension but 99% of ways in which to save for a pension are safe but BTL has risks purely because it is a business and has business risks.Your money would be 100% safe in ISAs etc.

You mention Robert Maxwell but lets be honest here he was a freak and an exception so you shouldn't try and justify your high risk investement by generalising that all pension schemes are high risk.

Like I said its just my opinion and as this is a Forum I think I will give it. Nothing personal but I don't think BTL industry has helped the country as a whole..

BR_Landlord

Probably because I am of the baby boomer, anti establishment generation that distrusts pension schemes etc – I trust bricks and mortar and my own judgement to make a good investment choice. I just never thought pension plans were for me.

leveller2911

BR_Landlord wrote: »

Probably because I am of the baby boomer, anti establishment generation that distrusts pension schemes etc – I trust bricks and mortar and my own judgement to make a good investment choice. I just never thought pension plans were for me.

Fair enough, its your money, personally I wouldn't touch BTL because I think its morally wrong ,but thats me....

You did have a choice...........

BR_Landlord

Well I did have a choice so I bought a property to rent out. I don't see it as morally wrong. Where are people supposed to live if they can't afford to buy? In many other European countries (France for instance) renting is in the majority. Perhaps Thatcher got you with the Right to Buy aspiration. I would rather see investment in publicly owned housing running alongside the private sector. A mixture usually less extreme ramifications both politically and socially.

Thrugelmir

BR_Landlord wrote: »

I trust bricks and mortar and my own judgement to make a good investment choice.

BTL is not an investment it's a business. With an investment the most you can lose is your stake. A business can lose you your shirt as well.

BR_Landlord

If you have a business you can form a limited company and then you would just loose your business not your shirt. If you have a business then this is also an investment. You cannot enter into business if you believe you will loose everything: business is not for you!

leveller2911

BR_Landlord wrote: »

Where are people supposed to live if they
can't
afford to buy?

Not everyone will be able to afford to buy so the rental market is important however BTL landords have been able to borrow against the perceived increase in value of their "portfolios" to put larger deposits down than FTB could ever afford.It wasn't hard cash deposits it was imaginary money. They priced the FTB out of the market in many areas, I also class 2nd homeowners as the same.We need more Social Housing along with cheap affordable housing for the private market.

You make it sound like BTL are providing a Social service when in fact the only reason they do it is for the financial gain.

In many other European countries (France for instance) renting is in the
majority. .

France and Germany are totally different than the UK in that tenants/landlords are happy to have long term tenancy agreements.They didn't allow 125% mortgages and don't have the same mindset with owning a property that we do in the UK.They have far more land to build on than the UK and France has a similar sized population.

I'm the first to admit I know very little about France/German housing market but do they have thousands of small BTL landlords or is the majority of the housing stock owned by big business/pension funds etc?. If so its not the same thing is it.