Buy-to-let DOOM: investors 'to sell 500,000 properties' as confidence plummets
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  1. #21
    AtW
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    Quote Originally Posted by tomtomagain View Post
    If anything else goes up in price it's called "inflation".
    No no no !

    Inflation is a very bad, terrible thing, only deflation is worse than it.

    On the other hand house price growth is wonderful never ending supply of tax-free money.

    Get it right next time!

    HTH

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    Quote Originally Posted by Danglekt View Post
    Oh it gets worse, we bought in a rough area about 6 weeks before the bubble popped in 2008, then couldn't sell it, left it empty while renting so we could get the kids in a good school, killed ourselves on a mortgage plus rent, then finally sold the house, massive lump of negative equity, worked for years to clear it, then more years to get deposit.

    We have genuinely caught the dirty end of the dirtiest of sticks.
    First rule of buying property = only buy in areas which are near good schools, leave the dodgy areas to Russian émigrés

    HTH
    How fortunate for governments that the people they administer don't think

  3. #23

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    Quote Originally Posted by Danglekt View Post
    Oh it gets worse, we bought in a rough area about 6 weeks before the bubble popped in 2008, then couldn't sell it, left it empty
    Not too dissimilar, we let ours out (still have it). It might bite me in the backside next time we move, and fail the "owning more than one house" test.

    Or put one house in my name and the other in the wife's?
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  4. #24

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    Quote Originally Posted by d000hg View Post
    Or put one house in my name and the other in the wife's?
    Nope, that won't work, in the same way that PPR relief for CGT applies per married couple. You can read the consultation though, as the full proposal is there...

  5. #25

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    Quote Originally Posted by d000hg View Post
    Not too dissimilar, we let ours out (still have it). It might bite me in the backside next time we move, and fail the "owning more than one house" test.

    Or put one house in my name and the other in the wife's?
    No can do. Married couples are counted as one unit. I suppose you could get divorced and then buy a 2nd house and then perhaps get married again in the future....

  6. #26

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    Quote Originally Posted by d000hg View Post
    Not too dissimilar, we let ours out (still have it). It might bite me in the backside next time we move, and fail the "owning more than one house" test.

    Or put one house in my name and the other in the wife's?
    Children over 18?

    I am not UK resident & transferring houses to 2 kids there was a doddle with the help of HSBC Expat. I believe it is no different if you are UK resident and avoid dying within 7 years.

  7. #27

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    Quote Originally Posted by AtW View Post
    No no no !

    Inflation is a very bad, terrible thing, only deflation is worse than it.

    On the other hand house price growth is wonderful never ending supply of tax-free money.

    Get it right next time!

    HTH
    Thank you for clearing that up.

  8. #28

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    Quote Originally Posted by jamesbrown View Post
    Nope, that won't work, in the same way that PPR relief for CGT applies per married couple. You can read the consultation though, as the full proposal is there...
    Quote Originally Posted by ChimpMaster View Post
    No can do. Married couples are counted as one unit. I suppose you could get divorced and then buy a 2nd house and then perhaps get married again in the future....
    Interesting, thanks guys.


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    Child over 18?
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  9. #29

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    Blimey

    First viewings of the maisonette held today - 2 x eastern european couples put an offer in which was rejected by the missus as she doesn't want 2 x couples (in a 2 bed flat) but intends to hold out for a single couple (who will sublet the second room themselves if they have any sense) or a family

    I'd take the money regardless
    How fortunate for governments that the people they administer don't think

  10. #30

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    Quote Originally Posted by Troll View Post
    Blimey

    First viewings of the maisonette held today - 2 x eastern european couples put an offer in which was rejected by the missus as she doesn't want 2 x couples (in a 2 bed flat) but intends to hold out for a single couple (who will sublet the second room themselves if they have any sense) or a family

    I'd take the money regardless
    Show me the money.

    Wife was similar I just said their money paid for this house.
    "If you didn't do anything that wasn't good for you it would be a very dull life. What are you gonna do? Everything that is pleasant in life is dangerous."

    I want to see the hand of history on his collar.

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