Jump to content
House Price Crash Forum

Sold to Rent


PopGun
 Share

Recommended Posts

On 19/12/2017 at 5:22 PM, adarmo said:

Yep.....

HTB 3

Govt backed fixed rate for term mortgages (already out there in the USA)

Increased immigration from EU and non EU

12 month income tax rebate upon exchange of contracts (I think the USA also did something like this)

 

Sadly there's literally no end of handouts a govt could conjure up.

Sad face 

Link to comment
Share on other sites

On 19/12/2017 at 3:31 PM, houseface2000 said:

Out of interest when did you buy and at what price ? what did you sell for ? where in the country?

I'm just interested because I contemplated doing the same but prices were ramping up so quickly we decided to take the plunge and upsize extra £70k on the mortgage. we've paid £10k off that now and my other half's pay rise mean we are bellow 4x joint income... In retrospect we would have been better waiting but its always a gamble, Hope yours pays off !!

 Cheers. Starter home in Yorkshire which for numerous reasons I was still in 15 yeats later. Bought for £60k and sold for twice the price. 50% profit. Minus renovation costs, buying ex out, mortgage interest etc probably broken even...

Good luck to you as well. 

Edited by PopGun
Link to comment
Share on other sites

On 19/12/2017 at 2:44 PM, hp72 said:

If you do the maths on an extra £170k borrowing at SVR 4.5% then the Interest only is £637 a month before capital repayment is added.  So the difference between renting and buying is that. 

ItSi intereSting how many don't Factor in the "rent to the bank".

Why would you assume SVR? It is trivially easy to remortgage with zero fees to deals around or under 2%.

Link to comment
Share on other sites

On 19/12/2017 at 6:53 AM, PopGun said:

I’m moving into my partners house, so pooling resources I’m making a contribution to bills etc but this enables us both to save a hell of a lot more than if we’re running two houses. Plus I was rattling around by my self in a starter family home which IMO was a bit of a waste. Now a young family have a home and will maximise the use of it.

Just out of interest does your partner own/ mortgage the house or is she renting?

I know several people who have kept their flat/ house when they've moved in with their partner - starts off as an insurance policy against the relationship going bad then stays on because they like the rent coming in. Mainly seems to be Londoners. Aside from the obvious 'one more rented house' thing it's not a great idea in my mind, as if there's an easy escape route there's a temptation to use it prematurely if the relationship goes through a rocky patch.

Good luck to you - hope living with your partner goes really well.

Link to comment
Share on other sites

11 hours ago, deadasadodo said:

Just out of interest does your partner own/ mortgage the house or is she renting?

I know several people who have kept their flat/ house when they've moved in with their partner - starts off as an insurance policy against the relationship going bad then stays on because they like the rent coming in. Mainly seems to be Londoners. Aside from the obvious 'one more rented house' thing it's not a great idea in my mind, as if there's an easy escape route there's a temptation to use it prematurely if the relationship goes through a rocky patch.

Good luck to you - hope living with your partner goes really well.

Yes she has a mortgage. However I think now is a good time to cash out, plus I can’t slag off landlords if I am one ;-)

many thanks

Edited by PopGun
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...

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.