Loans better than overtime?

[Deleted User]

Little ones are no good. They drain your resources, rather than adding to them.

Sell any children and reinvest the profits into providing loans.

System

Lol but without them all the inheritance goes to the government! If it doesn't go to care home first... I just see property outperforming loan interest rates, I don't have the money to do it alone, but I've read that there are funds where it pools peoples funds together, as well as that overtime money you have to work for and pay tax immediately

tomtontom

MatthewAinsworth wrote: »

Lol but without them all the inheritance goes to the government! If it doesn't go to care home first... I just see property outperforming loan interest rates, I don't have the money to do it alone, but I've read that there are funds where it pools peoples funds together, as well as that overtime money you have to work for and pay tax immediately

A good business plan will always attract investors.

You may have difficulty attracting investors.

System

I'm not setting up the btl fund, they already exist, but am considering investing in one when I get knocked out of tax credits, to be honest I'm terrified by rising house prices and feel I need to ride the market somehow to give little one any chance of a bedroom

System

Banks run on borrowed money and the very principle that their investments pay more than their borrowing costs, so the more you borrow the bigger the business you start

foxy-stoat

MatthewAinsworth wrote: »

I'm not setting up the btl fund, they already exist, but am considering investing in one when I get knocked out of tax credits, to be honest I'm terrified by rising house prices and feel I need to ride the market somehow to give little one any chance of a bedroom

Yes, they are called BTL mortgages...you need 25% cash deposit and want to be a Landlord.

You should be thinking about investing in a residental mortgage, start by saving as much as you can, overtime will help. Borrowing money to pay for a wedding will end up costing you more, as how are you going to pay for the loan repayments? Hard earned/taxed money.

Good lucks

foxy-stoat

MatthewAinsworth wrote: »

Banks run on borrowed money and the very principle that their investments pay more than their borrowing costs, so the more you borrow the bigger the business you start

You are confusing banks lending out "money" to people like you to make more money....not an average Joe six-pack borrowing money from the very banks that are making money to invest to try and make more money.

You sound like the poor saps on Dragons Den who havent got a scooby do - Give me £100,000 for 1% of my idea...errrr that means you value your "idea" at £1,000,000

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confused.com experssions slapped all over their Chevy Chases !

System

Foxy - there are also now funds where you can pool together small amounts of money that then get collectively invested in property by a fund manager, it allows you to put in small amounts (ie £100) and reaches out to the low paid like BTL mortgages don't. I do have a 1 bed flat on residential mortgage, but the gap between me and a 2 bed is growing and hampering my savings, so I'm looking at a way to put in small amounts before I have a substantial amount, to help me get there. Yes that overtime would get me closer, but time with a little one is precious so I'm looking into ways of raising cash that require less sacrifice and are more tax efficient. The plan for loan is that it'd repay itself from the investment.

System

Banks borrow from the Bank of England, from depositors, from each other, and from pension pots

David_White

If you consider borrowing money a more efficient use of your time then you need to re-train and re-evaluate your time.

But in short, the answer to your question is no.