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

CLAPTON

Hasbeen wrote: »

I think that what some landlords do as FTB cannot get funds to do them up, Unfortunately

The buyers do them up rent out for a few years to get some money back and then sell on hopefully to FTB.

There appears to be no help to FTB buying a completely dilapidated property requiring a lot of work as per money constraints the BTL here appear to be retired looking for some future benefits etc??

seems then, the BLT landlords are doing a public service bringing back badly needed houses into homes for people

BananaRepublic

CLAPTON wrote: »

just don't understand why wonderful people like you, don't take advantage of these massive tax breaks and let out these quality properties at cheap rents with long leases and keeping them in immaculate condition.

Oh but we do dear chap. Not me, but my friends do. One friend is already on for a tidy profit from his first property bought a few years ago.

BananaRepublic

CLAPTON wrote: »

seems then, the BLT landlords are doing a public service bringing back badly needed houses into homes for people

And how many do that? A tiny number. Odd how this thread has been swamped by what must be BTL landlords describing the saintly behaviour of BTL landlords.

Somerset

HENRY78 wrote: »

Every graduate I have known who has secured a job in London. Would prefer to buy if they have made that decision to work and live in the city. I don't know anyone who chooses to rent as ive said.

You are obviously angry, but you are seriously living on a different planet. Graduate ... want .... expect ?


I graduated maybe 30 years ago and got my first job, crappy pay for articled accountancy. I couldn't afford to buy. Qualified ACA 5 years later. Couldn't afford to buy. Moved employer for better pay. Couldn't afford to buy. Moved employer again for better pay and just managed (mortgaged up to the hilt) to buy a 1bed central London flat. Mortgage rate 12.4%.


I genuinely don't get your 'expectation' that a 'graduate should' be able to buy. Where did that come from ? In my lifetime, London has always been out of reach of most, graduate or not. Admittedly it's got worse with the foreign millionaires buying up prestige apartments but it was always difficult if not impossible.

Hasbeen

CLAPTON wrote: »

seems then, the BLT landlords are doing a public service bringing back badly needed houses into homes for people

Yes, probably as here, the councils charge 200% of council tax if property is left vacant for more than one year. So dilapidated ones that no FTB can get funds to renovate, Are available
The BTL once bought have to pay the tax until property is up to standard and let out which could take a while depending on how much work is needed.

The couple I know are both retired and put heart and sole into doing this, nothing but the best on renovations. they tell me it is great when a young couple move in.

As said before, a lot of people only want to rent and as local councils appear not to have houses available unless you are not local this is the alternative

Somerset

BananaRepublic wrote: »

You can call anything a business. In general BTL is a phoney business,.

My post was in answer to Henry who seemed to be saying that any business which didn't create jobs, wasn't a business which is manifestly rubbish.

Somerset

BananaRepublic wrote: »

Why do people such as you engage in such polarised black and white terms?:(

Somerset said that a degree is worthless. That is indeed an absurd remark.

Most of my contemporaries got nice cushy jobs on the strength of a degree. I've also done not too bad.

I did not.

CLAPTON

BananaRepublic wrote: »

And how many do that? A tiny number. Odd how this thread has been swamped by what must be BTL landlords describing the saintly behaviour of BTL landlords.

the low number is presumably because there are virtually no dilapidated properties anymore?

makeyourdaddyproud

Graduating from the University of Life and Fellow Respect for one's own Man is all that's needed. Record numbers of people are obtaining a degree which kind of defeats the object of its worth. 18 people are going for a job, all have 1st degrees ... ahem...

CLAPTON

teaching all the people to read and write was a big mistake : once everyone can do it it loses the point