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.

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.

looking to start BTL business

2»

Comments

  • leveller2911
    leveller2911 Posts: 8,061 Forumite
    Kynthia wrote: »
    Without landlords buying properties to let, there
    will be a shortage which will push rents up and hurt those that can't buy or
    choose not to.



    Absolute tosh, fact is FTB have been out bid by BTL landlords who have borrowed against the perceived increase in value of their current properties and FTB could not compete.

    If you don't buy a BTL there won't be a shortage at all and if the government stopped these ridiculous HTB schemes house prices would fall to an affordable level so that many FTB could afford to buy a home... Notice I said "home" and not an "investment..

    I don't think Ive read such a ridiculous post on here in the past 5 years.......Are you telling us we should thank you for doing society a favour?........
  • Kynthia
    Kynthia Posts: 5,678 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker



    Absolute tosh, fact is FTB have been out bid by BTL landlords who have borrowed against the perceived increase in value of their current properties and FTB could not compete.

    If you don't buy a BTL there won't be a shortage at all and if the government stopped these ridiculous HTB schemes house prices would fall to an affordable level so that many FTB could afford to buy a home... Notice I said "home" and not an "investment..

    I don't think Ive read such a ridiculous post on here in the past 5 years.......Are you telling us we should thank you for doing society a favour?........

    I'm not currently a landlord and never wanted to be one. I just think landlord bashing is as ridiculous as generalising any group in society instead of looking at individuals and their actual behaviour. We live in a supply and demand society and there is a demand for rentals. No landlord's aren't doing society a favour they are running a business and sellers are hoping for the best price they can get. First time buyers need to compete, that's reality and daft comments attacking those buying to let out just look childish.
    Don't listen to me, I'm no expert!
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Is this possible with no jobs but equity in our house?

    Most lenders require an income of at least £20-£25k and that's for a single BTL mortgage. Equity doesn't pay the mortgages when there's void periods or tenants don't pay.

    Leveraging with debt needs careful consideration. Without house price inflation in the equation. Letting property isn't necessarily that profitable possibly even loss making. Much depends on type of rental property choosen.

    Maybe a single property bought for cash with some of the other money invested in a stocks and shares ISA to provide a regular income. Is a possible way forward.
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 347.2K Banking & Borrowing
  • 251.6K Reduce Debt & Boost Income
  • 451.8K Spending & Discounts
  • 239.5K Work, Benefits & Business
  • 615.3K Mortgages, Homes & Bills
  • 175.1K Life & Family
  • 252.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.