New Home Owners And Snagging Forum

Home Owners => Buy To Let => Topic started by: chemistdude on February 19, 2018, 10:23:25 pm

Title: Is buy to let dead?
Post by: chemistdude on February 19, 2018, 10:23:25 pm
This board is a bit quiet. Who else here is a landlord? Is buy to let dead?
Title: Re: Is buy to let dead?
Post by: New Home Expert on February 21, 2018, 11:28:53 am
I think the tax changes have all but killed it off.
Stamp Duty 3% more, and reduced tax allowances.
That said a 2 bed semi in West Sussex is advertised at £1,000 a month!
£12,000 a year on a low interest rate mortgage say 3% with prices going up 5% is still a decent yield if you can be bothered dealing with tenants and repairing the damage they leave.
Title: Re: Is buy to let dead?
Post by: chemistdude on February 23, 2018, 08:48:54 pm
I have one with Mrs in joint name and have bought another off plan within a Limited company that we'll complete on in the summer. Mitigates the Section/Clause 24 tax but stamp duty surcharge still remains.
Title: Re: Is buy to let dead?
Post by: New Home Expert on February 24, 2018, 06:18:32 am
I wouldn't touch buy to let. It is called buy to regret for a reason!
One nightmare tenant that doesn't pay the rent and wrecks the place and you will be stuffed!
The housing market is also over due a price correction too.