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Bishop Bashes Boomers
Comments
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But is BTL a business, all businesses I know require you to do some form of work.Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
With such a low arrears rate one would expect the interest rate fo BTL would be lower than residential mortgages.0
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One takes the view that the banks should charge less interest on low risk loans than on higher risk.
Why not charge 'businesses' more like how you pay for a business bank account.Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
I don't see the relationship between a bank a/c and risk based lending.
Different products with different prices.
My business bank account sees less action than my personal account but costs me more, but why there is no risk (no overdraft) and less transactions.
If anything there should be an addition BTL tax on top, take back a chunk of the HB LL's are milking from the system.Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
My business bank account sees less action than my personal account but costs me more, but why there is no risk (no overdraft) and less transactions.
If anything there should be an addition BTL tax on top, take back a chunk of the HB LL's are milking from the system.
Why not scrap HB so then LL don't make any money out of it?0 -
One takes the view that the banks should charge less interest on low risk loans than on higher risk.
No it's about the bank spreading the risk.
Even with people who aren't defaulting or in trouble because a lot of them are sole traders, if they have other lines of credit or other businesses if they have go wrong then they will lose the BTL properties.
Those debts are likely to be owed to different lenders to the mortgage company, and if the property is in negative equity the lender can lose out when it's sold off as they aren't necessarily the organisation that has to be paid off first.
One of my siblings lived in a flat that after she moved out was repossessed with the landlord's other rental properties because the landlord's other business went wrong. The properties are in a wealthy part of London and it happened while the housing market was booming.I'm not cynical I'm realistic
(If a link I give opens pop ups I won't know I don't use windows)0
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