Can Mary have 3 cakes, eat them and expect a fourth?

Thrugelmir

mwpt wrote: »

Osborne is just going to introduce more taxes on these hard working houses. It's disgusting.

Reading the article then perhaps she should change her life style. As rather than "reinvesting" the money. She's been partying. Been very foolish in fact. Cake and eat it sounds very true in this instance.

mwpt

mayonnaise wrote: »

She works, she's got a boy, she inherited, she invested in property and now with upcoming tax changes is asking for advice with a view on retiring at 55. Still don't see why all the fuss, or the point to this thread for that matter.

I was once advised that this forum was not entirely serious. It was indeed good advice but I'm a stubborn chap at times.

However, it does seem a little odd to me that a single person on a (now) £39k pa salary can take out £530k of mortgage debt. Guess some houses are more equal than others.

mayonnaise

Graham_Devon wrote: »

Well no ones forcing you to read or contribute.

I like to enhance threads with my contributions.

wotsthat

mwpt wrote: »

However, it does seem a little odd to me that a single person on a (now) £39k pa salary can take out £530k of mortgage debt. Guess some houses are more equal than others.

You had the answer in post two. It's click bait and the odder it is the more clicks they get.

I didn't click through and so haven't read it but my spider sense says it's a load of old bolks.

lisyloo

mwpt wrote: »

I was once advised that this forum was not entirely serious. It was indeed good advice but I'm a stubborn chap at times.

However, it does seem a little odd to me that a single person on a (now) £39k pa salary can take out £530k of mortgage debt. Guess some houses are more equal than others.

I always thought that btl mortgages were based on business (property) income whereas residential mortgages are based on personal income ???

Thrugelmir

lisyloo wrote: »

I always thought that btl mortgages were based on business (property) income whereas residential mortgages are based on personal income ???

And if the business generates no income? Then it's immediately running a negative cashflow. The solvency of the owner(s) determines how long the business can continue to trade.

Graham_Devon

Funny type of click bait. Click bait usually involves something to intice you in.

This is simply an article - like all the others on the site!

Seems "click bait" is used as the content of said article doesn't put this particular instance of BTL in a great light, so it's simply written off as something which has caught the rest of us out. Yawn!

Same as the article warning of a major recession the other day involving RBS. Didn't go down well here, so again, it was written off as the telegraph trying to get as many users as it can - even though the same story was run on most other media outlets including the BBC.

kinger101

Graham_Devon wrote: »

Tough times out there it seems. I had to wipe away a tear when reading this harrowing story.

http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/12098155/I-have-three-homes-but-all-my-money-goes-on-holidays.-Can-I-retire-at-55-and-send-my-son-to-university.html

She's not complaining about anything. She's just seeking financial advice with regard to her retirement. And is somewhat concerned about having little in the way of liquid assets. I think you're being unfair.

She does need some advice too, because her tenants won't be happy if the boiler blows up but she can't repair it because she's spent it all looking at reindeer.

wotsthat

Graham_Devon wrote: »

Funny type of click bait. Click bait usually involves something to intice you in.

This is simply an article - like all the others on the site!

Seems "click bait" is used as the content of said article doesn't put this particular instance of BTL in a great light.

All these puff piece articles are click bait whether they say nice/ bad things about BTL, single mothers, foreigners etc.

There's not enough money in providing the news. People don't click through on the puff pieces and the Telegraph goes bust.

princeofpounds

always thought that btl mortgages were based on business (property) income whereas residential mortgages are based on personal income ???

Simplistically yes, although in reality considerations of both come in for small scale landlords.


To be honest, I've often wondered why banks don't just buy the bldy houses themselves and let them out, if they base lending too much on the house earnings power alone.


(yes, yes I know, exposure to capital volatility etc. I'm only semi serious to make a point)