Anyone still looking at buy to let?

[MattZani]

What's the avg age of the folks posting in here?

Everybody seems to own at least 2 properties: 1 to live in and a btl....

I must be doing something totally wrong

[PerfectStorm]

What's the avg age of the folks posting in here?

Everybody seems to own at least 2 properties: 1 to live in and a btl....

I must be doing something totally wrong

I'm a house sharer in London. The contract thing is the only reason that owning anything is becoming a realistic prospect. Looking at £450k flats in disrepair at the moment

[unemployed]

What's the avg age of the folks posting in here?

Everybody seems to own at least 2 properties: 1 to live in and a btl....

I must be doing something totally wrong

Save your money, property is only going one way

Down

And 450k for flats in disrepair is laughable

[silverlight1]

I'm selling my BTL portfolio - one each year to max the Cap Gains - last one going shortly once i have negotiated a lease extension with the rip-off freeholder.

I've done well out of BTL but I made a decision to cash in the chips (and I've still got 20 years before usual retirement age)

My reasons:

- Tory government (if you can call it that) sees BTL as an area rich for HMRC to plunder
- Cant be ar**d managing tenants any more
- Can never call the top of the market but in Watford where I had most of my flats the markets gone bananas with crappy one bedrooms selling for £275-300k

[b0redom]

What's the avg age of the folks posting in here?

Everybody seems to own at least 2 properties: 1 to live in and a btl....

I must be doing something totally wrong

40, but I have had the B2L in Isleworth since I bought it as a residential place in 2001. Used equity released from that to buy a new place to live in 2006.

As a follow up to my 'what am I missing' post. It turns out that lenders are now looking at rental multipliers to see if they think you can afford a mortgage. Even though the local estate agent reckon my place is worth ~ 600k, I can only borrow £250k against it, so I won't be expanding my B2L empire any time soon......

[unemployed]

40, but I have had the B2L in Isleworth since I bought it as a residential place in 2001. Used equity released from that to buy a new place to live in 2006.

As a follow up to my 'what am I missing' post. It turns out that lenders are now looking at rental multipliers to see if they think you can afford a mortgage. Even though the local estate agent reckon my place is worth ~ 600k, I can only borrow £250k against it, so I won't be expanding my B2L empire any time soon......

600k for Isleworth???

The place stinks. Mogden sewage works can be smelled over the whole place.

Shows what cheap money has done to the world.

200k houses with 600k asking prices

[SueEllen]

600k for Isleworth???

The place stinks. Mogden sewage works can be smelled over the whole place.

Shows what cheap money has done to the world.

200k houses with 600k asking prices

Depends where it is in Isleworth. Lots of people say "Isleworth" when it's Brentford.

[stek]

Park Royal, four houses and hotel. Mayfair, the same, plus all the utilities and three of the four railway stations on the board. Bankrupted my daughter when she landed on Park Royal, we don't talk about it despite her being 8 at the time....

Do not pass go, do not collect £200...

I'm always the iron BTW....

[unemployed]

Depends where it is in Isleworth. Lots of people say "Isleworth" when it's Brentford.

That's worse

St Margarets is better

[Dactylion]

Park Royal, four houses and hotel. Mayfair, the same, plus all the utilities and three of the four railway stations on the board. Bankrupted my daughter when she landed on Park Royal, we don't talk about it despite her being 8 at the time....

Do not pass go, do not collect £200...

I'm always the iron BTW....

In a cock-er-knee rhyming way?