Reply to: BTL timebomb

[AtW]

the same as it is now, I fixed it for 5 years.

You dirty spekulant, repent!!!

[vetran]

What would your mortgage be at normal 6-7% interest?

the same as it is now, I fixed it for 5 years.

[AtW]

If the UK was that unattractive, people wouldn't come.

I reckon English language is the main reason.

[ShandyDrinker]

It's not immigration you numpy, it's same as people moving from somewhere in UK to London.

Almost all of those 500 mln of people in EU got enough brains to know that going to UK is pretty stupid - very high cost of living, high taxes, low earnings for most, no point really.

Aha... the resulting to name calling ploy.

Ok, whether immigration or migration from within one part of the EU to another it is still uncontrolled and yes, the same goes for all countries in the EU with freedom of movement of people etc etc.

If the UK was that unattractive, people wouldn't come. I've worked with plenty of well educated people from other EU countries who come to the UK for the opportunities it affords them.

Anyway... this is off topic for BTL so I'm done.

[d000hg]

FTFY



Thought you were in the game now, d000hg

I expect to sell my inherited properties but regardless, what I think is best is not based purely on what is best for my bottom line. That said I don't think the current changes make a lot of sense, though I do feel the idea everyone and their dog 'should' own a BTL is silly.

[PurpleGorilla]

You're joking, right?
Probably the worst idea, in the world, ever.

Feel free to add any of your own ideas.

[RetSet]

First-time buyers need £90,000 salary to pay off Help to Buy loan in five years

While buyers can get the loan the same way they can get any mortgage, with a loan-to-income test, the huge size of the loan means even those on high salaries will struggle to pay it off during the interest-free period, which lasts for five years after the loan is taken out.

And once the interest-free period is up, the charges amount to thousands every year - and if the property increases in value, so does the government's share.

---------------

So in 2018, the government is going to become a homeowner on an increasing scale? Personal debt will soar?

The government will then have a vested interest in maintaining high house prices? And there will be a lot more wage slaves?

Hopefully AtW will be along shortly to point out the solution to this.....

That's Help to Buy, NOT Buy to Let. FFS, read it before you post it!

[AtW]

Agreed, but that doesn't mean it is controlled. In theory there is currently nothing to stop all 500+ million people within the EU upping sticks and moving to the UK hence the UK has no control over if/when/how that could happen.

It's not immigration you numpy, it's same as people moving from somewhere in UK to London.

Almost all of those 500 mln of people in EU got enough brains to know that going to UK is pretty stupid - very high cost of living, high taxes, low earnings for most, no point really.

[ShandyDrinker]

It's their legal right to come to UK, freedom of movement in EU.

Agreed, but that doesn't mean it is controlled. In theory there is currently nothing to stop all 500+ million people within the EU upping sticks and moving to the UK hence the UK has no control over if/when/how that could happen.

[AtW]

While immigration may be happening according to the laws, rules and so on, it is still uncontrolled in the sense that anyone from the EU can come into the UK and there's no way of knowing how many people can come in... hence uncontrolled.

It's their legal right to come to UK, freedom of movement in EU.

[AtW]

Most gilts are bought by the UK government via QE.

Got proof?

[ShandyDrinker]

Stop uncontrolled immigration

It is controlled.

With the best will in the world I think that's stretching it...

While immigration may be happening according to the laws, rules and so on, it is still uncontrolled in the sense that anyone from the EU can come into the UK and there's no way of knowing how many people can come in... hence uncontrolled.

[BrilloPad]

You mean stop foreigners buying UK gilts?

Most gilts are bought by the UK government via QE.

[AtW]

Its fairer just to deflate the balloon.

You can deflate balloon, but demand will only increase, it will get re inflated very quickly.

High interest rates necessary to deal with it, and building of at least 1 mln new houses every year.

[fool]

<Diety> know why the help to buy goes above £200k.


They should help those in social housing to buy not youngsters living with 1% ers.

What if those 1%ers arent giving those young folks any money? Dont get me wrong, they usually do, but you're screwing over those who don't.

Also most of these tests are based on income. You can easily earn 1% and be nowhere near 1% of wealth. Its fairer just to deflate the balloon.