Monday, Jul 10, 2017

There is no Missteeq ... this really is Scandalous

FT Adviser: Limited company buy-to-let is next mis-selling scandal

Heads you win.... errrr tails you don't lose!

Posted by techieman @ 12:39 PM (5283 views) Add Comment

8 Comments

1. techieman said...

Dunno why the link doesn't work :
https://www.ftadviser.com/Articles/2017/07/03/Limited-company-buy-to-let-is-next-mis-selling-scandal

Monday, July 10, 2017 01:42PM Report Comment
 

2. jack c said...

"Ruth Whitehead had a client try to sue for arranging a buy-to-let mortgage rather than a residential one – but it was a buy-to-let property, and he already had a residential mortgage. He tried to sue me because the interest rate was higher.”

TM - I wonder if that was a 'Face2Face' attempt to sue?

Same guy will be trying to reclaim the full cost of his all inclusive holiday because he "fell ill" (the latest no win no fee theme)

Monday, July 10, 2017 02:53PM Report Comment
 

3. mombers said...

Well if they don't come right they'll just pass the extra cost on to the tenant of course!

Monday, July 10, 2017 03:47PM Report Comment
 

4. techieman said...

They should wait a bit and let the IR on the court award kick in...

Monday, July 10, 2017 05:39PM Report Comment
 

5. techieman said...

Once again I've been out punned by our friend in the North !!

Nice one Jack !

Monday, July 10, 2017 05:44PM Report Comment
 

6. jack c said...

TM - giving our age bracket away here - I suspect the rest of the regulars won't have a clue what we are on about !

Monday, July 10, 2017 09:46PM Report Comment
 

7. tenyearstogetmymoneyback said...

I would have thought anyone in the Business of BTL should exercise due diligence.
There is a big difference between Joe average taking out a loan for a new kitchen and someone
taking out multiple mortgages.

Something I would like to know is what happened to "The Bridging Loan" . It is less than the 25 year length of a mortgage since having two residential mortgages automatically meant a huge penalty in interest rates.

Personally, I think that the next scandal - Endowment mortgage style will be pensions. Most current schemes are about as predictable as endowments.

Unlike PPI,, how many people actually received compensation for being sold an endowment mortgage ?

Thursday, July 13, 2017 06:45AM Report Comment
 

8. mombers said...

@7 the BTL brigade are very confused about their exact status. They want to be businesses when it comes to interest deductibility, but not when it comes to paying self employment National Insurance or VAT. The latter is a hoot because they complained about the interest deduction changes effectively taxing them on turnover - as if the £160bn in VAT extracted from just about every business is not exactly that - a turnover tax. And now they want consumer level protections for business!

Thursday, July 13, 2017 12:30PM Report Comment
 

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