Buy to let no longer worth it?

Thrugelmir

summerholiday wrote: »

I suggest you view 'property118' site run by Mark Alexander to gain the insight of many buy-to-let landlords and the implications of George Osborne's budget changes commencing 2016.

Lots to read, very informative and helpful.

More moaning and groaning than constructive advice from people that seem to feel that they should receive special preferential treatment. All seem to have made the mistake of assuming that the rules can never change. All part of running a business.

Thrugelmir

deaston wrote: »

I live in the South East, but not London. I bought in 2010 for 399,000 and have just sold for £585,000. We've not done anything to the house so I guess it's just the market.

You've presumably bought somewhere else at an inflated price though.

Typhoon2000

BTL is a bussiness but its also an investment bussiness . So due diligence is useful. Buying in the South East minuses risks. Having a house over you head is never going to go out fashion so you will always have an assest.
I reckon that rents will be pushed up with the tax changes. There are large numbers of people who can't /will never be able to buy in the South East, the population is going up, and they will still need somewhere to rent even after the Tax changes.
You may want to look at buying through a limited company and pay less tax than private landlords pay now. And not be affected by the proposed tax changes. I see there is already an increase of Limited company BLT products.

cloo

I work on a property publication, and having edited a piece by a tax specialist on the subject I'd say BTL is no longer attractive if you're a higher-rate tax payer and you'll have a large mortgage on the property. It's only going to work out now if you have a strong rent:mortgage repayment ratio.

summerholiday

Thrugelmir wrote: »

More moaning and groaning than constructive advice from people that seem to feel that they should receive special preferential treatment. All seem to have made the mistake of assuming that the rules can never change. All part of running a business.

Many, if not most of those posting in relation to the George Osborne's changes do not agree with the changes. There are many in this world who believe themselves to be entitled to preferencial treatment, not just Landlords........

I advised the person to log onto the site in light of an inordinate amount of herd-mentality-type of personal criticism given.

Mark Alexander monitors his site well and does not allow rudeness to escalate into personal attacks, unlike this forum on occasion.

Guest101

summerholiday wrote: »

Many, if not most of those posting in relation to the George Osborne's changes do not agree with the changes. There are many in this world who believe themselves to be entitled to preferencial treatment, not just Landlords........

I advised the person to log onto the site in light of an inordinate amount of herd-mentality-type of personal criticism given.

Mark Alexander monitors his site well and does not allow rudeness to escalate into personal attacks, unlike this forum on occasion.

OP needs to stop being a rude so & so then, hadn't he...

summerholiday

I did not find his questions or answers rude. More defensive or ignoring rudeness.

Many of what I read in responses were 'knee-jerk' attacks given by those who believe they have a preferential right and entitlement to vent their own rudeness upon another.

Guest101

summerholiday wrote: »

I did not find his questions or answers rude. More defensive or ignoring rudeness. - That must mean that all the other people are wrong and you are right?

Many of what I read in responses were 'knee-jerk' attacks given by those who believe they have a preferential right and entitlement to vent their own rudeness upon another.

I suspect you are Deaston....

summerholiday

Thrugelmir wrote: »

More moaning and groaning than constructive advice from people that seem to feel that they should receive special preferential treatment. All seem to have made the mistake of assuming that the rules can never change. All part of running a business.

You are, of course, correct. The Treasury changes the rules all the time, no one is exempt. However, most landlords owning properties in my area appear to keep them well-managed and the builds looked after inside and out. More than I can say for certain neighbours who do not touch their property from one year to the next and Environmental Health has to be called in.

marksoton

summerholiday wrote: »

I did not find his questions or answers rude. More defensive or ignoring rudeness.

Many of what I read in responses were 'knee-jerk' attacks given by those who believe they have a preferential right and entitlement to vent their own rudeness upon another.

Then in the OP's own condescending words...

"you really should read things more carefully."