my buy-to-let dream cost me everything

ds1980

Looks like she didnt have things going for her from the start.

1. she was a woman

2, she was scottish

Oh dear some people have all the bad luck!

poppy10_2

dolce_vita wrote: »

And as a 52 year old female taxi driver in glasgow she is, by definition, living a tough life.

Taxi drivers in Glasgow earn a fortune.

seven-day-weekend

How did she stop a FTB having a house?

They could have bought the flats too. They were not offered solely to investors, were they?

I think she believed people and trusted them. Was naive yes, stupid maybe, evil no.

eco-friendly_2

ds1980 wrote: »

Looks like she didnt have things going for her from the start.

1. she IS a woman

2, she IS scottish

Oh dear some people have all the bad luck!

Yeah ! and there is another 2 [strike]ruining [/strike]running your country.:rotfl:

ffacoffipawb

eco-friendly wrote: »

Yeah ! and there is another 2 [strike]ruining [/strike]running your country.:rotfl:

And he took over from another (grinning) Scot.

barrymung

dolce_vita wrote: »

.........Not me, obviously, but this idiot :

http://www.thisismoney.co.uk/mortgages/buy-to-let/article.html?in_article_id=424579&in_page_id=56&ct=5

A sad tale of greed and stupidity.

As I always say to people who are starting out in business, "Do your research BEFORE shelling out any money" and then "Do loads more research".

The internet is your friend. If she'd done a simple google search before hand she might not have lost her cash.

hearts

ds1980 wrote: »

Looks like she didnt have things going for her from the start.

1. she was a woman

2, she was scottish

Oh dear some people have all the bad luck!

.....and she went down to London and got robbed for 6 grand by some shyster englishman. Who filled her head full of nonsense. We may not be up to your standards but then she knows now what your standards are.;)

dolce_vita

barrymung wrote: »

As I always say to people who are starting out in business, "Do your research BEFORE shelling out any money" and then "Do loads more research".

The internet is your friend. If she'd done a simple google search before hand she might not have lost her cash.

Yeah, she might have found this SHOWER OF !!!!!!

fc123

We rented out our house to re-locate for work (not wanting to our ties to our area...just in case)...it was valued @£400,000 last yr....... for £1000 pmth but the mortgage is only £190,000..the rent covers the interest part (12 yr loan) and the agents fees.

we rent a house valued @ £480,000 (found out value when i tried to get the council tax reduced) for £1200 pmth (our landlady owns it outright).

BTL sums don't add up at all on the above if there were large mortgages involved.

i feel for this lady..but we remember the fall out in 1989 - 1993 ....council tenants buying their houses and then feeling very rich, bad lenders lending too much cash that got spent on hols in Florida, followed by re-possession then they ended up back in local authority housing.

Don't ever trust a salesman.........he is not your mate

Rover

fc123 wrote: »

Don't ever trust a salesman.........he is not your mate

Very, very true. Don't forget salesmen/women earn commission. Or in this scenario, the EA's, builder, lenders, facilitators all earned money and left this gullible soul bankrupt.