Buy to let



I would never go through the hassle again.
Good luck if you get a decent tenant. You get a bad one and you can without checks you will regret it.
Wasn’t even our choice to go with the decision, HS2 pushed us into making the decision.
I would stay well clear.
 
Longy said:
I’ve got one. Was our first house, not an investment. There’s loads of costs associated that people don’t think about. Boiler certifications, electrical certifications. Mortgage is way higher than it was a few years ago.

The years profit we get after costs would he more or wiped out if the boiler went.

I wouldn’t bother
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But you'll have a house paid off for free in years to come
 
When I got married 15 years ago we both owned houses and I moved into hers.
Pretty much everyone we knew urged me to rent out my house instead of selling it.

I've worked in social housing for over 30 years.
Some of the horror stories I've encountered in those 30 years (non-payment of rent, trashed properties etc.) meant it was an absolute no-brainer to sell up as fast as I could.
No regrets at all.
Don't do it !
 
gonzalo said:
From all of this I’m starting to think it’s a bad idea!

Guess, I just need to figure out investing now.
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Wouldn’t say it’s a bad idea necessarily. Depends on you’re age / appetite for risk / how mobile you want to be in life / ability to fix things / do jobs yourself to save costs.

It’s made plenty of folk a fortune and many more a little more financially comfortable.

See how you feel after being home 6 months.
 
Devil71 said:
When I got married 15 years ago we both owned houses and I moved into hers.
Pretty much everyone we knew urged me to rent out my house instead of selling it.

I've worked in social housing for over 30 years.
Some of the horror stories I've encountered in those 30 years (non-payment of rent, trashed properties etc.) meant it was an absolute no-brainer to sell up as fast as I could.
No regrets at all.
Don't do it !
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Everyone says the same thing, they read the headline figures and forget how much it actually costs to maintain a house and how one bad tenant can take any profit away.
Longy said:
It’s on interest only
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The vast majority rely heavily on capital appreciation. I think the transition from one full time worker to two eventually (in the late 90s) made prices rise exponentially.

Will that ever happen again though?
 
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If something goes tits up, are you in a position to fix? Or would you benefit from getting an agency to do it for you?

Do you have a tenant lined up?

What sort of deposit do you have? Most banks will only lend up to 80%.
 
gonzalo said:
I’m going to be moving back up Sunderland this summer, and my plan is to buy a house to let it out when I get home, and live in my Mam’s annex (anar anar shameful but she lives on her own now since me Step Dad died and my brother who lives nearby is useless frankly).

Obviously I’m going to do my research, however I’m aware buying to let is very different to buying ordinarily. Any advice?
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You are SUBHUMAN SCUM

You should be ashamed of yourself for being a SLUM LANDLORD
 

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