B2L Dilemma

Cheeky_Monkey

Don't know whether the same applies in Scotland but here you have to be a home owner to get a BTL mortgage

Tyler119

Caravan_of_Love wrote: »

To add in my view on why I am considering B2L from a high level, I was looking at the B2L from the point of view that I put 25% down and at the end of the 20 year mortgage, all going well and let has been steady, the property would be in a position to be paid off from what I have made on the rent.

Granted the stamp duty and tax relief rules have changed but essentially you are making from the banks money. They don't lend for an ISA fund. In terms of the black and white figures, I have not gotten that far yet hence why I was just testing the water and looking for opinion.

Sadly a few rude people have surfaced though.......

I'm sorry did you say rude...wait you mean to say there a rude folk wandering about here

Thanks for the comment before, no one has every said good post before....it was probably something rude instead :rotfl:

Good to see you are looking super long term. I would say if you get that far, be really picky over the age / quality of what you buy. Nothing like a new roof to empty 18 months of profit from the bank.

On the other hand, you could divert a portion of the monthly profits into a share fund, providing you do not require it for living expenses. I can see where you going with over 20 years pay the property off and I guess if you invest the profits you may have a even larger gain at the end.

:beer:

Pixie5740

What was antagonistic about my post? No one here, or anywhere for that matter, can see into the future.

From your OP not only did I deduce that you are based in Scotland but that you have done zero research into BTL whatsoever. That fact that in subsequent posts you then go on to mention stamp duty (replaced in Scotland by LBTT over 2 years ago) and think that gearing is still the way to make money in BTL just confirms your lack of research. You are tardy to the party.

theartfullodger

B2L is a people business: With your attitude to how other people either try to help you or point out minor errors or misunderstandings in your esteemed strategy I fear you will fail or rack up serious losses in the landlording business.

This is a free forum where very valuable advice is provided, sometimes somewhat bluntly: If you want only advice that does not offend your sensibilities or sense of self-worth, look elsewhere..

Touchy! Sigh!

Harryp_24

Caravan_of_Love wrote: »

No need for the antagonistic manner of your reply. You don't like what you read then simply don't reply.

The mention of Sturgeon and independence was fairly obvious, I am based in Scotland. I have no interest in Scottish politics, or any for that matter, as I personally find them all to be bare faced liars with personal agendas. I do though care about my future hence the questions above and know enough that Scotland would be in a disastrous place if the devil got her way.

stop asking dumb questions if you dont want dumb answers.

G_M

I'm only posting to say I'm not going to respond to such an ungrateful poster.

Tiners

Caravan_of_Love wrote: »

To add in my view on why I am considering B2L from a high level, I was looking at the B2L from the point of view that I put 25% down and at the end of the 20 year mortgage, all going well and let has been steady, the property would be in a position to be paid off from what I have made on the rent.

Granted the stamp duty and tax relief rules have changed but essentially you are making from the banks money. They don't lend for an ISA fund. In terms of the black and white figures, I have not gotten that far yet hence why I was just testing the water and looking for opinion.

Sadly a few rude people have surfaced though.......

YOU... are precisely the type of BTLer that the government has began to and will continue to target with tax changes and ever more stringent rules and regulations, they want the heavily leveraged, amateur landlords out of the market.