Base rates held (what's new?)

MFW_ASAP

Bantex wrote: »

Exactly
I have no desire to be a landlord, but the powers to be have decided that any savings I have should be slowly taken off me.

And BTL is the only way to get those savings back? Pull the other one, you know that's not true. As an example, I'm over 9k up on Tesco shares I bought on 24th October, so just 2 weeks ago and I invested a lot less than what you've just dropped on your BTL. I banked £3600 the other week on shares in the same company, and that gain was over just 3 days.

Bantex_2

Arent Tesco down about 30% on a year ago?

MFW_ASAP

Bantex wrote: »

Arent Tesco down about 30% on a year ago?

Yep, but I don't buy shares at their peak.

Or houses for that matter....

Bantex_2

If I knew what the peak was on shares I would give it a punt. Trouble is that i don't. Just looking for a steady income and any capital growth will be a bonus.

All quite boring really.

shortchanged_2

Just pm renoman and ask him for financial advice. He's a real financial wizard. He's just a money making machine and everything he touches turns to gold. Except he wouldn't touch gold of course.
The only thing that amazes me is that he still has a mortgage.

Thrugelmir

Bantex wrote: »

If I knew what the peak was on shares I would give it a punt. Trouble is that i don't. Just looking for a steady income and any capital growth will be a bonus.

All quite boring really.

And you like investing in property. :eek:

Bantex_2

Thrugelmir wrote: »

And you like investing in property. :eek:

Not really, just investing in a rental income.

Capital growth would be a bonus if it happened but not essential.

MFW_ASAP

shortchanged wrote: »

Just pm renoman and ask him for financial advice. He's a real financial wizard. He's just a money making machine and everything he touches turns to gold. Except he wouldn't touch gold of course.
The only thing that amazes me is that he still has a mortgage.

Lol, I can almost taste the bitterness.

For information, I'm investing in my pension, which I can't touch until I turn 55. However, I am considering using it as a repayment vehicle because for every £60 I put in the pension, the government puts in £40. That guaranteed gain, coupled with stock market gains and dividends is a much more efficient way of paying off a mortgage than overpayments from my (taxed) net income. Besides, repaying a mortgage at 2.75% instead of making 10% gains on the stockmarket? It's a no brainer.

Of course, you're not much of a financial expert short changed, hence the reason your grubbing along on the bottom.

wotsthat

MFW_ASAP wrote: »

For information, I'm investing in my pension, which I can't touch until I turn 55. However, I am considering using it as a repayment vehicle because for every £60 I put in the pension, the government puts in £40. That guaranteed gain, coupled with stock market gains and dividends is a much more efficient way of paying off a mortgage than overpayments from my (taxed) net income. Besides, repaying a mortgage at 2.75% instead of making 10% gains on the stockmarket? It's a no brainer.

There aren't many investments where it's possible to make an overnight 40% gain and then, later, remove 25% of the resulting fund tax free.

I have nothing against BTL as an investment but assume people only get into it if they've received a higher rate rebate on the full £40k contribution limit and still have cash left over. If not there's quite an opportunity cost being spent.

Thrugelmir

lisyloo wrote: »

If you're saying that my proposal that individuals doing property management for free is too simplistic (which I'm sure it is BTW), then could you please enlighten me/us. Cheers.

Time costs money. Opportunity cost. In the longer term far more to maintaining a property than some DIY.