Oh Dear: What happens when you borrow against the house for a get rich scheme

[Joeman]

It is right. All were DSS homes. About £60 per week each is right.

Shame the costs involved are very high. I bought a couple of houses in Burnley in late nineties. Sold them a few years later. I ended up with building society returns. A few tenants were bad - some were just incompetent. As soon as they go empty thieves will strip the copper pipes out.

yes that is right - bit early for my maths brain to be working

its always an eye opener to see how other people live, and what they consider to be "clean".. being a landlord would be great if the tanants would pay the rent, but just live somewhere else!!

[doodab]

Comments are worth a read

looks like they've overdone the whole Horse & Hound thing.

I like Iona's scarf does anyone know where it is from

Ha

[ChimpMaster]

I wonder what his outlay was to generate £250,000 income?

I would have thought ~£2m (i.e. average deposit of £25,000 per property), because houses are cheap up there and can't be renting out for loads if he's making £250/house/month (assuming interest only mortgage).

[SimonMac]

I stopped reading (and caring after this)

I believed it when I was told there was no risk. In fact, the only risk I thought I faced was not making as much money as I’d hoped

[SimonMac]

L > R
Deffo
3 pints
5 pints
8 pints

You do realise the "middle" daughter is only 15, now where's that Wilmslow/Peado smily?

[rhubarb]

At no point does it say

'So we pulled our children out of private school'

If you cannot afford £100k a year fees then don't send your brood to private school FFS.

Apart from where it says

But even so, that doesn’t diminish the difficulty for any father of having to sit down and tell his children they have to leave their beloved schools because he can no longer afford the fees, as Charles had to last year

[MarillionFan]

Apart from where it says

But even so, that doesn’t diminish the difficulty for any father of having to sit down and tell his children they have to leave their beloved schools because he can no longer afford the fees, as Charles had to last year

Well. They had stupid names. Who calls their kids Charity and Hedley? Asking for trouble that.

[SimonMac]

Well. They had stupid names. Who calls their kids Charity and Hedley? Asking for trouble that.

MF how's your BTL plans coming along from the pension's thread, you manged to trick the banks to give you more mortgages than you can handle

[DimPrawn]

Well. They had stupid names. Who calls their kids Charity and Hedley? Asking for trouble that.

Indeed, I'd never put my little ones Persephone, Theodore and Clarence through this nightmare.

[Notascooby]

WTF is it with middle-upper class and coloured cords?

Mustard, Green and Red are the usual offending colours.

anyway....