Why do people resent buy-to-letters so much?

Hasbeen

Crashy_Time wrote: »

michaels wrote: »

A colleague of mine and her boyfriend on below average graduate starting salaries have just bought a 2 bed flat in Hemel.

BTL landlords pay more for their mortgags than the equivalent residential mortgage so if a BTL landlord can afford to buy and rent out for 1200 pcm then a ftb should be able to buy and pay considerably less per month.

Except that the govt has decided to stop OO buying IO whereas there is nothing preventing them from paying more per month on rent.

Plus landlord has almost certainly lived longer and thus had more time to save up capital for a deposit...sadly this is a fact of nature, the longer someone works the more they can save up - is there any way to address this unfairness without confiscating savings which is then a pretty strong disincentive to save?

And no housing shortage? Funny that those 2 bed flats are 200k in Hemel and not the 65k it costs to build them, if that doesn't suggest there is a hosing shortage then I don't know what would?[/QUOTE]


Sometimes supermarkets sell big bars of dairy milk chocolate for a pound, other times they chance their arm and make it two quid, or even 2.50, people want to buy it for various reasons but it doesn`t follow that there is a shortage?

Hi Crashy what is oo and io sorry!!

BananaRepublic

Crashy_Time wrote: »

Do you honestly think that a degree has any worth nowadays?

What a silly remark. Many will ensure their owners do very nicely thank you. But not if you have a degree in pottery and media studies from the University of Tweedle Dee.

CLAPTON

HENRY78 wrote: »

Know Hemel well.


Loads of newly built flats there that are on the market for anything up to £450k for a two bed flat. Cheapest 1 bed flat for around £180k. Ridiculous.


They have done very well to buy there so young. My brother bough his first house in Boxmoor,Hemel in 2001 for £90,000. large 2 bed house end of terrace house with a lovely garden. Now worth £350k!!!! Wages haven't gone up that much in 14 years sadly. Crazy times.

population has increased by about 6,000,000 over than period : much in the SE

chucknorris

Crashy_Time wrote: »

The problem is that "snapping up" a BTL or three (with debt) has become the substitute for doing more productive things IMO, and as a result people who are earning "good" money can barely get by it seems, in London anyway.

Obviously I can't answer for all landlords, but not in my case, I was working full time when I bought mine (and afterwards) but not only that, I was also running another business (and employing people, and I don't mean the BTL properties).

BananaRepublic

Somerset wrote: »

What's your obsession with creating jobs, that it's the only measure worthy of a business ? Nobody I know personally has gone into business 'to create jobs' - it's solely been to support themselves. In fact they avoid 'job creation' like the plague because of the red tape and regulation. Those that I know include boat brokers, accountancy, farmers, plumbers and builders (who pay cash in hand if help is needed ). They are all businesses, they all pay tax - the business is to support them, not you.

You can call anything a business. In general BTL is a phoney business, in reality it is no more than an investment scheme, a potentially very lucrative one. It's time people stopped this pretence that they are carrying out a service, dutifully saving Britain. BTL landlords are most probably mostly honest decent people doing something legal to fund their later years. I though cannot see why they deserve special tax breaks that home owners and other investors do not get.

Crashy_Time

BananaRepublic wrote: »

What a silly remark. Many will ensure their owners do very nicely thank you. But not if you have a degree in pottery and media studies from the University of Tweedle Dee.

Really. Do enlighten us Oh Great One on how around 50% of school leavers can go on to some kind of further education and that education can have intrinsic worth :rotfl: IMO they are just funding their own unemployment benefit in many cases.

ukcarper

Graham_Devon wrote: »

Agree with you here. A FTB could have done the same.

Whether it's suitable to most people to purchase as a home though is another matter. I know I would never purchase a flat as a home. Different though as an investment and different as a renter.

Theres just too many problems associated with flats when it comes to buying them, hence they are ignored by buyers. I've said before, I would quite like to see entire apartment blocks created for renting out.

And on that note I wish you good luck! Buying a flat as a BTL now with BTL getting hammered it seems and increased costs is brave!

I can't quite believe this post. When I first bought in 70s I offered on 3 flats because I couldn't afford house in area I worked. 1 got guzumpted on, 1 couldn't get a mortgage on because it was freehold and 1 mortgage valuation came in to low so couldn't get mortgage. So I move 20 miles where I could buy a house.

BananaRepublic

Hasbeen wrote: »

You have lost your dollar then, these were properties lying empty for a few good years in bad state of repair the were un mortageable sold on open market advertised for months. Not much houses sold at auction here unlike England bought cash, spent cash to do up and let out for renters who were looking for good affordable living.

Its called providing a service to people who want it LOL

And what proportion of landlords buy delapidated empty properties and do them up? Almost none is I bet.

Crashy_Time

BananaRepublic wrote: »

You can call anything a business. In general BTL is a phoney business, in reality it is no more than an investment scheme, a potentially very lucrative one. It's time people stopped this pretence that they are carrying out a service, dutifully saving Britain. BTL landlords are most probably mostly honest decent people doing something legal to fund their later years. I though cannot see why they deserve special tax breaks that home owners and other investors do not get.

Yes, for HMRC going forward it seems ......

chucknorris

Crashy_Time wrote: »

Really. Do enlighten us Oh Great One on how around 50% of school leavers can go on to some kind of further education and that education can have intrinsic worth :rotfl: IMO they are just funding their own unemployment benefit in many cases.

There are IMO too many students doing degrees (generally), I can't argue with that, because I say it all the time myself. But that doesn't mean that doing a degree doesn't add value, as with most things it needs to be evaluated.