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House Price Crash Forum

gone skint

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About gone skint

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    HPC Poster
  1. I understand the CGT tax exempt is circa 11k a year .. then its 28% .. I think
  2. Agreed , but most BTL people have made money on the banks money, since 2008 some have paid base rate plus .25% now they were getting 4% on rent so made there, the heavily leveraged can make fortunes and lose the lot .... investing to beyond your safety net is gambling, in the same period some poor souls lost their pensions,,,,
  3. It's a good idea to move to centrally funded , frauds will be reduced.
  4. What has the growth been in the last 2 years ? That needs to be accounted for before the drop questioned 2 years ago...
  5. Sure you can lose and win, but no London property with a market price of 500k will rent for £6k a year 0.012% not possible.
  6. I really don't believe that the lending on property is in line with property values, how can it be many houses in central London were bought for 100k 25 years ago and are worth a million now. Another funny thing with the ' debt ' is in the 80s mortgage rates were up to 15% so 100k cost you £15000 a year to fund.. Now to fund 100k you need £1500 a year , there are so many ways of looking at it all and indeed what will happen won't happen, I do feel some heavily leveraged LL will sell up, but then not so heavily leveraged will buy in. Until inserts rates drop I can't see how house prices can, but I am not Nostradamus I am 'gone skint ' there is another thing the generation rent who are say 30 now in 20 years will be inheriting property ...
  7. More divorces , more housing shortages .... Price increases !!!!
  8. I see what you mean, but there are a few things which are supporting the madness. Many people bought these places at a 10th of the debt, many owners don't have a mortgage , people are bequeathed property , rents are horrendous, banks paying poor interest rates, people living longer, housing shortage , people are hanging on to properties.... I agree a person from scratch looking to get a 20% deposit £80k then a 320k debt it looks madness, but if the interest rate is 1.5% it's costing less than £5000 a year to fund it, rent would be £16000 a year , people on the train are OK to a degree people trying to get on are in a terrble situation ....
  9. I can see heavily leveraged BTL will have to unload due to tax changes, but a person with no leverage or minimal there is no change. Also the landlords with more than 9 rental there is no change, it seems to me as if they want to stop newcomers joining the buy to let business.
  10. Agreed and even more bizare I read somewhere he is a ' Middle East peace envoy ' its embarrassing if true.
  11. I can see so many different situations as regards BTL and whether prices will fall significantly in the long term, people with 9 or more properties don't pay the 3% increase, the 3% tax can be set off via the tax route. Interest rates are very low, the risk is for the leveraged BTL investor , voids or rate rises. In many parts of uk there is a massive shortage and rents are rising, BTL mortgages are at the highest bye have ever been. Whilst I agree seeing 300k for a shoe box the £1000 a month rent is just as absurd ? Established BTL people will be fine it's the heavily leveraged new comers, but I can't see a massive risk not that I would jump in. There was the crash of 89 , slow till 1997 then 2008 till 2011 but again its regional , it was a suprise to read here Lancashire I think has seen reduced or flat pricess for 10 years. With many people migrating here, divorces , people living longer the demand is there...in many places.. Would I rather pay £1000 a month for a rabbit hutch or £500 a month interest only, whilst the £300k seems horrid I would plump for the later ... That said I could be looking at 20% negative equity next year
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