Jump to content
House Price Crash Forum
Sign in to follow this  
Si1

44 Year Old Teacher Wants To Buy To Let In Australia

Recommended Posts

You couldnt make this s@@@ up if you tried, £425,000 debt for £12,000 pa..

Good job the boe are so vigilant

Share this post


Link to post
Share on other sites

You couldnt make this s@@@ up if you tried, £425,000 debt for £12,000 pa..

Christ on a bike. So she is a maths teacher (or it might be science which requires logicalt thinking) and can't see the problem with this leverage. Then the article says she 'owns' two btls and her own home. Then in the same paragraph goes onto say that all three properties are mortgaged. Come on. Which is it? Does she own or do the banks?

Share this post


Link to post
Share on other sites

Sounds like a propaganda (prop-aganda? :) ) attempt to prop up the Australian market with British money.

They're probably running similar articles in asia etc trying to get people there to prop up the British market. They'll be starting to be confused - Australian market or British market - there's got to be something better than that.

True keeping the plates spinning stuff at a very primitive level.

Edited by billybong

Share this post


Link to post
Share on other sites

Christ on a bike. So she is a maths teacher (or it might be science which requires logicalt thinking) and can't see the problem with this leverage. Then the article says she 'owns' two btls and her own home. Then in the same paragraph goes onto say that all three properties are mortgaged. Come on. Which is it? Does she own or do the banks?

How are they mortgaged - IO or repayment??

Share this post


Link to post
Share on other sites

Not quick on the teacher bit:

'Jennifer Beck is waiting to start a supply teaching job but wants to know if this will affect her capital gains tax liability'

Unemployed thick bint has loads of mortgage debt.

Share this post


Link to post
Share on other sites

Of course so far readers really only have the telegraph's word that that person actually exists as described. One assumes she does but you never know for sure with that sort of story.

If she does it looks as if her finances need propping by selling the story to the telegraph - so the advice then would be don't do it.

Edited by billybong

Share this post


Link to post
Share on other sites

How are they mortgaged - IO or repayment??

And there we go again.She gets tax credits.Two BTLs,another on the way,£38k a year,but still tax credits.

Im sure all renters out there paying their tax and working all hours feel happy about this.

You really couldnt make it up if you tried.

Share this post


Link to post
Share on other sites

Not quick on the teacher bit:

'Jennifer Beck is waiting to start a supply teaching job but wants to know if this will affect her capital gains tax liability'

Unemployed thick bint has loads of mortgage debt.

Looked like she joined Gordon Brown's glorious public sector gravy train in 2000 as a teacher and, my guess now, just got made redundant in a restructure, was on 38k. Probably doing supply teaching owing to not being able to get a suitable permanent post quickly enough. I doubt she'll get the same salary again in future, which could be why she's contemplating going back to her home country of Australia. Edited by Si1

Share this post


Link to post
Share on other sites

Beck, coincidence I guess.

And there we go again.She gets tax credits.Two BTLs,another on the way,£38k a year,but still tax credits.

Im sure all renters out there paying their tax and working all hours feel happy about this.

You really couldnt make it up if you tried.

Yup, total pisstake.

Share this post


Link to post
Share on other sites

And there we go again.She gets tax credits.Two BTLs,another on the way,£38k a year,but still tax credits.

Im sure all renters out there paying their tax and working all hours feel happy about this.

You really couldnt make it up if you tried.

+1

Indeed being used to funnel more and more money into one group.

Share this post


Link to post
Share on other sites

Looked like she joined Gordon Brown's glorious public sector gravy train in 2000 as a teacher and, my guess now, just got made redundant in a restructure, was on 38k. Probably doing supply teaching owing to not being able to get a suitable permanent post quickly enough. I doubt she'll get the same salary again in future, which could be why she's contemplating going back to her home country of Australia.

Does not make sense. If she came from Australia to be a teacher, it is not the free movement of labour that the EU is, so would need to be qualified beforehand. Don't know why she is waiting to be a supply teacher, in the SE there is a massive shortage of teachers and she would be able to pick and choose her job

Share this post


Link to post
Share on other sites

Presumably with all the mortgages and with that income in the SE there's a good chance she could only have got her hands on so many properties through the mist a mirror type of lending policies of lenders which was supposed to have been reined in now. So maybe lending for Australian purchases is more lax?

Edited by billybong

Share this post


Link to post
Share on other sites

Does not make sense. If she came from Australia to be a teacher, it is not the free movement of labour that the EU is, so would need to be qualified beforehand. Don't know why she is waiting to be a supply teacher, in the SE there is a massive shortage of teachers and she would be able to pick and choose her job

She might have her eye on a specific type of post which is not currently available, and only typically gets recruited for on an annual cycle during the summer recess.

Share this post


Link to post
Share on other sites

From the figures quoted in the article, I make it a repayment over 30 years. IO would be around 630 pm.

Repayment BTL are rare. What interest rates did you use? And what LTV assumptions?

Share this post


Link to post
Share on other sites

Repayment BTL are rare. What interest rates did you use? And what LTV assumptions?

Just a very quick plugging of the numbers into a money site that compares mortgage offers, so let the site do the calcs and interest rates.

Here

https://www.moneysupermarket.com/mortgages/results/#?goal=4&term=25&property=160000&borrow=90000&method=2&types=1&types=2&types=3&types=4&types=5

Share this post


Link to post
Share on other sites

And there we go again.She gets tax credits.Two BTLs,another on the way,£38k a year,but still tax credits.

Im sure all renters out there paying their tax and working all hours feel happy about this.

You really couldnt make it up if you tried.

+10000000000000

If she wants to takes mortgages on 100 houses and get into millions worth of debt, then fair enough, her choice. What annoys me is that she is being subsidized with tax credits.

Share this post


Link to post
Share on other sites

Her buy-to-let flat is currently on the market for £170,000. She bought it in 2012 for £115,000 and hopes to sell it in October, when the fixed-rate mortgage comes to an end.

A 50% capital gain in just 4 years, ridiculous.

Share this post


Link to post
Share on other sites

As an aside, if anyone ever feels low about their financial circumstances, then the Telegraph money advice section really is a terrific way to boost your spirits. I just clicked a link to another article about a doctor who has a £140k salary, but yet for all intents and purposes is broke.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   33 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.