looking to start BTL business

leveller2911

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

leveller2911 wrote: »

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.

Thrugelmir

oddsocks6573 wrote: »

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.