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punjabi

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About punjabi

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  1. Try the Mortgage Works..... http://www.themortgageworks.co.uk/content/...-mortgages.aspx Simply googling 'BTL mortgages' will bring up more sites. The Estate Agents are probably NOT a good place for a mortgage - they will act in their interests and not in yours. There are lots of financial advisors who will not charge you anything, but will get paid by the lender. I would seek them. Make sure you looks at not just the interest rate for a mortgage, but at the charges (legals, valuation, arrangement fee etc etc) as well. Oh....don't expect a flood of replies to your genuine questions....BTL is inherently disliked on here.....anyone wanting to take part in it is seen in dim light. All the best with your endeavours. P
  2. When I started this thread, it was to gain some valuable insight as to why there is such dis-like of BTL on here, and to have a reasoned debate. It was NOT to cause offence to anyone. But judging from the negative tone of the replies, esp. from one poster, I feel that the dis-like of BTL is due to three reasons - envy, envy, and envy. Which is fair enough. A part of me wants to stop myself sliding down to the level of personal insults, but another part says "what the heck?" So, my response to you SMAC67 is this: Read any book by Fred Harrison, then get back to us. Back to 'us'? So, are you now a self-appointed representative of the whole community of poster on this site? It won't make you any more popular, Glad to hear it, because my self-esteem is not dependant on the approval of anonymous posters on cyberspace. but you may actually develop an understanding of your business. You keep talking about my "business", but you don't know what my busines is, because I have never stated it. I could be a landlord, or a FTB. I could be a STR, a solicitor, a surveyor, or an accountant who has landlords as clients. Or I could be a Tax Inspector. There's a saying that goes "Never argue with an idiot, because they will drag you down to their level, and then beat you with experience". Well, with that thought SMAC67, I'm out of this thread, and I shall leave you to wallow in your own self-pity, and envy-filled-hatred of all those who are more successful than yourself.
  3. Wow. Three sentences and not one of them contained any useful information or advice. All three filled will insults and strong and dis-tasteful opinions. Regarding the tax breaks situation, this is the deal with BTL: Landlords receive rent. From this they take away interest paid on the mortgage, and all running expenses (eg, repairs, insurance, maintenance costs etc etc). If there is a profit left then this is added to their other incomes and taxed according to their current tax bracket, which can be 40%. If landlords sell their BTL property for a capital gain, then they pay CGT (after deducting an allowance). So, where are the "massive tax breaks" that landlords get?
  4. Firstly, I apologise for multiple postings. This was my first post and I made the mistake or not reading the guidelines, and kept trying to submit a post again and again. Doh! What 'massive' tax-breaks do the BTL's get? Sure, landlords can claim resonable expenses (like any business), but there are no tax breaks from what I can tell. Or have I missed something? Regards
  5. Okay....I know I will get heavily slated for this. But I've been reading this wonderful site for weeks, and totally want the HPC to happen as much as the next poster on here....but one thing I don't understand is....why such venomous remarks towards anyone who is a landlord or a BTLer? Surely, landlords and BTLers have existed long since these terms came into existence. Landlords have been active for thousands of years. At the beginning of the 20th century most people did NOT own their property and, in fact, rented. How did the university students rent their properties before 1998 when BTL became 'legal'? How did the working classes find accomodation in the 19th century? Owning property and renting it out has been the bed-rock of capitalism since time immomorial...... So, to repeat my question....why do people on here hate BTL so much? 1) Is it envy? ("I don't have 10 properties and hate to see other people have them") 2) Is it because there's the belief that they caused the HPC? And is this actually true? Remember that the 1988-1992 crash happened, and BTL didn't officially 'exist' then! 3) Is it because people have a belief that making money out of someone else is morally wrong....even via honest hard work? I would love to hear a logical argument (and hope that there's no mindless abuse!) All views/responses/insults greatly welcomed!
  6. Okay....I know I will get heavily slated for this. But I've been reading this wonderful site for weeks, and totally want the HPC to happen as much as the next poster on here....but one thing I don't understand is....why such venomous remarks towards anyone who is a landlord or a BTLer? Surely, landlords and BTLers have existed long since these terms came into existence. Landlords have been active for thousands of years. At the beginning of the 20th century most people did NOT own their property and, in fact, rented. How did the university students rent their properties before 1998 when BTL became 'legal'? How did the working classes find accomodation in the 19th century? Owning property and renting it out has been the bed-rock of capitalism since time immomorial...... So, to repeat my question....why do people on here hate BTL so much? 1) Is it envy? ("I don't have 10 properties and hate to see other people have them") 2) Is it because there's the belief that they caused the HPC? And is this actually true? Remember that the 1988-1992 crash happened, and BTL didn't officially 'exist' then! 3) Is it because people have a belief that making money out of someone else is morally wrong? I would love to hear a logical argument (and hope that there's no mindless abuse!) All views/responses/insults greatly welcomed!
  7. Okay....I know I will get heavily slated for this. But I've been reading this wonderful site for weeks, and totally want the HPC to happen as much as the next poster on here....but one thing I don't understand is....why such venomous remarks towards anyone who is a landlord or a BTLer? Surely, landlords and BTLers have existed long since these terms came into existence. Landlords have been active for thousands of years. At the beginning of the 20th century most people did NOT own their property and, in fact, rented. How did the university students rent their properties before 1998 when BTL became 'legal'? How did the working classes find accomodation in the 19th century? Owning property and renting it out has been the bed-rock of capitalism since time immomorial...... So, to repeat my question....why do people on here hate BTL so much? 1) Is it envy? ("I don't have 10 properties and hate to see other people have them") 2) Is it because there's the belief that they caused the HPC? And is this actually true? Remember that the 1988-1992 crash happened, and BTL didn't officially 'exist' then! 3) Is it because people have a belief that making money out of someone else is morally wrong? I would love to hear a logical argument (and hope that there's no mindless abuse!) All views/responses/insults greatly welcomed! P
  8. Okay....I know I will get heavily slated for this. But I've been reading this wonderful site for weeks, and totally want the HPC to happen as much as the next poster on here....but one thing I don't understand is....why such venomous remarks towards anyone who is a landlord or a BTLer? Surely, landlords and BTLers have existed long since these terms came into existence. Landlords have been active for thousands of years. At the beginning of the 20th century most people did NOT own their property and, in fact, rented. How did the university students rent their properties before 1998 when BTL became 'legal'? How did the working classes find accomodation in the 19th century? Owning property and renting it out has been the bed-rock of capitalism since time immomorial...... So, to repeat my question....why do people on here hate BTL so much? 1) Is it envy? ("I don't have 10 properties and hate to see other people have them") 2) Is it because there's the belief that they caused the HPC? And is this actually true? Remember that the 1988-1992 crash happened, and BTL didn't officially 'exist' then! 3) Is it because people have a belief that making money out of someone else is morally wrong? I would love to hear a logical argument (and hope that there's no mindless abuse!) All views/responses/insults greatly welcomed! P
  9. I live about 1 mile from the Grand Union Village, and I've watched the prices here with shock. 2-beds are on the market for about £190K, but at an Allsops auction about 3 months ago, I saw a couple of these going for £130K. That's still too much from an investment angle, and if and when these come to about £100K I may be interested. Incidentally, have a look at Savills auction results from the last fortnight - a couple of 2 bed houses in Northolt went for about £155K (having had a guide price of £115K) - these were defintely not bargains from what I can see. Another year, and hopefully the prices at the inflated and over-hyped Grand Union Village will come down to something resembling 'fair'. All the best.
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