O/T. Green energy

[millersrus]

Is that as a repayment Or is it interest only tracker. What's the product fee. If it's interest only what insurance/pension are they asking for. What income to loan are they asking. Cheapest fixed is 5.39%. Nobody with any sense would get a tracker ATM due to the forcast of 6% which makes a mortgage 7.3% min

It’s a 2 year discounted repayment 25 year. 2.99%, nil set up fees, based on £85k property, £5k deposit.

[wendun]

wendun, mi owd cheese how's it going? Now I want you to tell me the truth to this question.

You own six properties, and all are are buy-to-let rentals. Now with the interest rates having shot up, suddenly you're going to be out of pocket, several hundreds if not a few thousand pounds of rent per month because of this so:

1. Do you inform your tenants their rent is increasing to cover the cost of the rate increase?
2. Do nothing and let them keep on the same rate and YOU take the hit?
3. Work something out of a modest increase where you HOPE, they pay you back the missing rent money?
4. Put all properties on the market, informing your tenants within the correct timescales that they will have to leave?

I await your answer both as a humanitarian and a businessman.

Let me say first Brin that Cayton is completely wrong as I did not post to wind him up. Secondly your proposition is wrong on several counts. I have money. Not so much as some on here but enough. "You own six properties" is a non sequitur. I have refused several times to involve myself in buy to let. It is immoral.
But I accept that I have lost the argument. As someone said "We are all Thatcherites now," and we are. The rich, the Tories love it. How can we stop these lot taking our wealth? they asked. Simple, said Maggie. Give the plebs a little of what we have and watch them become just like mini (though irrelevant) versions of us. And you lads have bought into it and it's absolutely pathetic. My father's generation in Rotherham would not have drunk in a pub with a renter. I feel the same. You fought in the miners strike but now wave the enemy's flag. It makes me sad. But you lads seem to like talking about your rents and your pathetic investment strategies not seeming to realise you've been shafted.

[caytonmiller]

It’s a 2 year discounted repayment 25 year. 2.99%, nil set up fees, based on £85k property, £5k deposit.

You do realise how discounter mortgage work? So basically it's 0.75 % above base rate. what if the forcast of 6% comes into effect by spring.
How much would the 85k mortgage be? Not long before they are above the rent charge then worrying about repo. Plus they need 5k deposit and some form of insurance to cover the repayment at term end or death... Btw they are advertised but these mortgages are not available unless your income is huge compared to the amount you can borrow. And if you have a good wage your not buying 85k house

[caytonmiller]

Let me say first Brin that Cayton is completely wrong as I did not post to wind him up. Secondly your proposition is wrong on several counts. I have money. Not so much as some on here but enough. "You own six properties" is a non sequitur. I have refused several times to involve myself in buy to let. It is immoral.
But I accept that I have lost the argument. As someone said "We are all Thatcherites now," and we are. The rich, the Tories love it. How can we stop these lot taking our wealth? they asked. Simple, said Maggie. Give the plebs a little of what we have and watch them become just like mini (though irrelevant) versions of us. And you lads have bought into it and it's absolutely pathetic. My father's generation in Rotherham would not have drunk in a pub with a renter. I feel the same. You fought in the miners strike but now wave the enemy's flag. It makes me sad. But you lads seem to like talking about your rents and your pathetic investment strategies not seeming to realise you've been shafted.

Haha. Your such a funny man.

[Brin]

Let me say first Brin that Cayton is completely wrong as I did not post to wind him up. Secondly your proposition is wrong on several counts. I have money. Not so much as some on here but enough. "You own six properties" is a non sequitur. I have refused several times to involve myself in buy to let. It is immoral.
But I accept that I have lost the argument. As someone said "We are all Thatcherites now," and we are. The rich, the Tories love it. How can we stop these lot taking our wealth? they asked. Simple, said Maggie. Give the plebs a little of what we have and watch them become just like mini (though irrelevant) versions of us. And you lads have bought into it and it's absolutely pathetic. My father's generation in Rotherham would not have drunk in a pub with a renter. I feel the same. You fought in the miners strike but now wave the enemy's flag. It makes me sad. But you lads seem to like talking about your rents and your pathetic investment strategies not seeming to realise you've been shafted.

wendun, I think you've got the wrong impression of me, I do not own any other properties. I use to own one, bought it, tidied it up but never rented it out to anyone. I merely sold it privately on the market to make a profit.

[Grist_To_The_Mill]

wendun, I think you've got the wrong impression of me, I do not own any other properties. I use to own one, bought it, tidied it up but never rented it out to anyone. I merely sold it privately on the market.

Yep, a small cottage in Cardigan Bay

[Brin]

Yep, a small cottage in Cardigan Bay

Made many a potential buyer 'pullover' to look at it though.

[caytonmiller]

Who did you hoodie wink to buying it?.

[Brin]

Who did you hoodie wink to buying it?.

On the market and it was all zipped up in double quick time. Actually an old miner mate of mine bought it through the estate agents.

[caytonmiller]

Feked a bit more by the government today. Dropping capital gains tax from £12300 down to 6k in April. Then 3k in 2024 Marvelous. If I got a job I could earn £12500 before I paid tax.

On a positive note. Wendun social housing are getting a 7% rent increase. Fortunately only 30% of them pay full rent and the rest are made up from benefits. At least my extra 4k I have to pay per property is going to the needy