Home Owners > Buy To Let

Is buy to let dead?

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chemistdude:
This board is a bit quiet. Who else here is a landlord? Is buy to let dead?

New Home Expert:
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.

chemistdude:
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.

New Home Expert:
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.

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