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

mayonnaise

kinger101 wrote: »

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.

Quite true.
She's not complaining, she's not moaning, she's not boasting.
Just seeking advice.
I guess having made money out of property turned her into the devil incarnate to the have-nots on this forum. Oh well.

lisyloo

Thrugelmir wrote: »

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.

Yes of course, same as if a householder loses their income.
But lenders need (and do have) some rules for mortgage qualification.
They know it doesn't usually come with a guarantee but nevertheless they have rules.

I was questioning the correlation between personal income and btl mortgages as that's not how I thought it worked.

mystic_trev

Without being rude, she looks a lot older than 40. Perhaps being a teacher and a BTL mogul speeds up the ageing process?

I wish her luck, but I'm just getting a bit tired of these look how well I've done Telegraph articles.

Do we really want to know this?

Making the most of her school holidays, Marie takes one or two big trips a year. She’s been to Cuba, Mexico and Antigua two years running, plus shorter trips.

She recently paid £2,000 for a Christmas trip to Lapland for herself and Joe. She said: “Colleagues always come up to me saying, 'where are you off to this time? Bet it’s somewhere nice'.”

Crashy_Time

Joeskeppi wrote: »

"You won't believe what this woman who owns 3 properties said!!"

That's right.

Bogof_Babe

How can she claim to need advice when she casually mentions that all her spare money goes on expensive holidays?

I'd have thought the answer was bleeping obvious, especially to someone of her standing in the educational world.

Thrugelmir

lisyloo wrote: »

Yes of course, same as if a householder loses their income.

Homeowners can apply for SMI.

Residential owner will also now have a repayment mortgage. So debt will be reducing. Even if there is a reduction in income. There is scope for the remaining debt to be rescheduled over a longer period of time.

PasturesNew

kinger101 wrote: »

.... 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.

That bit had to be repeated as it's so funny

Crashy_Time

PasturesNew wrote: »

That bit had to be repeated as it's so funny

She won`t find it funny when HMRC come calling.



:rotfl:

Thrugelmir

Crashy_Time wrote: »

She won`t find it funny when HMRC come calling.



:rotfl:

Suspect that she'll be caught under the change of tax rules on BTL interest anyway with her level of income.

kabayiri

"Marie" (who is growing on me) needs to spend a little less on her 2 long haul holidays a year, to create this cash slush fund she needs so that Joe can move on from Lapland to Lap dancer land.

From where she lives, holidays in Aberdeen are definitely long haul if you choose National Express. Think 'thrifty and slow'. Whilst in Aberdeen she can probably sniff out a couple of property bargains arising from displaced oil workers needing to sell.