Tuesday, Jul 17, 2007
The UK's youngest BTLer?
Daily Telegraph: Taking his first step at 12 weeks
It's time to emigrate - people are buying newborn babies flats to get them on the "property ladder" early:
So far, Charlie isn't terribly impressed about reaching the first step of the property ladder. The first time his mum took him to see his very superior £250,000 wendy house, which is undergoing building works before being let out, all he did was sleep. But Tonya is convinced that she and Robert, who works for Wellingtons Estate Agents, are doing the right thing. "We live in Fulham, just about seven minutes from the flat, and I am very confident about the area in which we are buying."
Posted by papabear @ 01:08 PM (179 views) Add Comment
16 Comments
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1. Davros said...
This property, bought at the top of the market, is 'the ideal investment' supposedly.
Sigh.
2. denzil said...
Lovely BTL with moral high-ground thrown in for good measure.
Partner 1: Shall I buy a BTL?
Spouse: But it's for little Tarquin's future darling. Houses will be 45 times average salary in the future.
Partner 1: Gulp I'd better go and buy a BTL then. It's a shit investment but I can justify because it's for little Tarquin.
3. dohousescrashinthewoods said...
These people will get raped in the crash.
Tarquin will probably poo himself, but not for the same reasons his parents will ;)
4. sold 2 rent 1 said...
denzil,
Is that Tarquin from the "modern parents" in Viz in the early 1990's
5. george monsoon said...
I wonder if little Tarquin will inherit the dept ?
6. Ihopeitgoeswithabang said...
They are convinced are they?
I'd like to see what signs they have in their EA Window.
"Look these prices are soo rock solid we are even going to risk our kids future on it - guaranteed win win - Please step inside and buy one for yourself"
Propaganda. I wonder what inheritance oh sorry I mean deposit, they put down..
They aren't relatives of the so called Landlord Expert are they?
7. Hard Cheese said...
We are seriously losing the plot here. Bet it is nothing more than a tax fiddle/loop hole by there accountant. Tarquin & poopsy are just a smoke screen
8. Scott said...
I told you the tactics would get dirtier towards the bitter end. I never thought anyone would use babies as human shields.
9. planning4acrash said...
This is actually a very wise investment taken at the bottom of the market cycle, put 10-20k deposit into a BTL and when the kid is 25yrs old, pass them a fully paid for flat/house when they get married, given that it will have been let for so long, capital gains tax will be down to 20%, and it can be passed over slowly, in chunks as tax free gifts. But, this type of investment is bonkers at the top of the market. I'd tell them to hang on for just 2-4yrs. With the fear of reprisals, I'll be tempted to do this for my kids if I can in a more healthy housing market.
10. dbnazz1 said...
What lovely parents. how nice of them to pass Tarquin all that nice negative equity.
11. denzil said...
S2R1.
I'd forgotten about Viz so it's not the same Tarquin. The name Tarquin probably popped into my head because as a kid we used to have a neighbour around our age called Tarquin. His parents were terribly terribly up themselves and wouldn't let Tarquin play with us because we were from the council estate.
Tarquin duly, as expected got a place at a good University and then much to his parents horror pronounced himself gay. Sadly he's dead now. He never finished Uni and took to his bedroom for months on end and one day took too many pills. It's fascinating that how ever hard they tried to be above everyone they probably had more skeletons in the closet than most of us.
Sorry, I know that's nothing to do with HPC or BTL. The past can captivate the mind from time to time.
planning4acrash I agree with you at the right time it is a very good investment.
12. enuii said...
I like the subtle psychological twist of portraying other parents as sort of inadequate because they can't afford to property invest (BTL) for their BayBees, quite nauseous really but then we are talking London.
13. paul said...
Wow. When I think of over-protective, sanctimonious, up themselves parents, I thought "Tarquin" for the name of the kid too!
Maybe that's Viz. Maybe it's great minds. Of course he works for an estate agent. He likely offered the old granny who used to live there until last month "£100 new pounds and a brand new pair of slippers" before getting her to hand him the deeds.
Let's pile over and have have an all-night wrecking party.
14. bidin'matime said...
With 5 of them, they will go down big time in the crash - the next generation will not only not see their 'inheritance', but they will be put off property ownership for a very long time....
15. sold 2 rent 1 said...
If your name is Tarquin you haven't got a chance in life.
I remember one Viz story where Tarquin was forced to watch his dad "go down for the gravy" on his mum.
It's amazing what sticks in your head.
16. denzil said...
S2r1 said:
>>If your name is Tarquin you haven't got a chance in life.
I remember one Viz story where Tarquin was forced to watch his dad "go down for the gravy" on his mum.
It's amazing what sticks in your head.
Hilarious! Viz in its pomp was a fine read.