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Clarky Cat

Guardian: We Want To Buy A Second Property, But Can We Let Out Our Current Home?

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As we have made a lot of money due to the property market rising, we would ideally like to borrow from our home (current mortgage £165,000) to fund the deposit for another property to live in, say, £25,000 (including £5,000 for moving costs, stamp duty and so on).

http://www.theguardian.com/money/2016/feb/25/buy-new-home-rent-let-to-buy

Probably a clickbait article. But no mention whatsoever of the risks. None on the mortgage interest and wear & tear tax changes.

A passing mention of looking up the responsibilities of being a landlord at the end.

Is it 2008 yet?

Edited by Breowan

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http://www.theguardian.com/money/2016/feb/25/buy-new-home-rent-let-to-buy

Probably a clickbait article. But no mention whatsoever of the risks. None on the mortgage interest and wear & tear tax changes.

A passing mention of looking up the responsibilities of being a landlord at the end.

Is it 2008 yet?

PONZI-TASTIC

This can't be happening surely !!!

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Also their combined incomes are "low". Certainly this is evidenced by them only wanting to borrow £160k.

If one of them loses their job, and there's a void period in the rental.. well.

Edited by Breowan

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They made a lot of money in property.

They seem to want to lose it all again.

Easy come, easy go.

Lever on the way up....Lever on the way down.

Edited by TheCountOfNowhere

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I find it hard to credit that prices have risen that much in only three years unless something truly remarkable has happened in their area. Suspect they're grossly overvaluing their place.

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I find it hard to credit that prices have risen that much in only three years unless something truly remarkable has happened in their area. Suspect they're grossly overvaluing their place.

It's called an "advert".

It's telling people what they can do if they have equity in their homes. There will be plenty thinking..."hey that's me, I should invest too, house prices are shooting up".

Edited by TheCountOfNowhere

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When it comes to BTL.....or indeed LTB....(Let To Buy), both of which I would call exercising yer RTL...(Right To Leech)....The Guardian is defecating on it's supposed left wing values. I have seen Guardian adverts in The Observer offering advice to budding parasites. What next beautification of the Blairs

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