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Property Investment! :D watch

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    I haven't seen a property investment discussion here so I decided to create one!
    So please feel free to share any ideas or strategies that may help others! Or ask any questions as I am sure someone will be able to answer them!
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    Probably bad time to get into BTL... Mortgage interest relief being abolished, stamp duty increases on 2nd homes, increased rental coverage requirement from 125% to 135%, stress test applications increased to 5.5%+, rising interest rates, extortionate remortgage fees. IMO not worth bothering with unless you can get LTV down to 60%. The Govnt and Banks are out for a large portion of your profit pie.

    Personally I have no interest in the north nor wales, as I do not have the time nor commitment to buy/view/maintain/manage anything up there, neither is there much capital gain to be made. However, here in London, stamp duty alone will cost you £20k+ for a small flat. That's before you've even made a penny. That and a myriad of other costs makes the whole thing these days more trouble than its worth. I've already started selling my properties and reinvesting it somewhere else. Will reconsider going back in when government stops using landlords as scapegoats for their own lack of housebuilding and calms down on stamp duty/2nd home taxation.
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    (Original post by NX172)
    Probably bad time to get into BTL... Mortgage interest relief being abolished, stamp duty increases on 2nd homes, increased rental coverage requirement from 125% to 135%, stress test applications increased to 5.5%+, rising interest rates, extortionate remortgage fees. IMO not worth bothering with unless you can get LTV down to 60%. The Govnt and Banks are out for a large portion of your profit pie.

    Personally I have no interest in the north nor wales, as I do not have the time nor commitment to buy/view/maintain/manage anything up there, neither is there much capital gain to be made. However, here in London, stamp duty alone will cost you £20k+ for a small flat. That's before you've even made a penny. That and a myriad of other costs makes the whole thing these days more trouble than its worth. I've already started selling my properties and reinvesting it somewhere else. Will reconsider going back in when government stops using landlords as scapegoats for their own lack of housebuilding and calms down on stamp duty/2nd home taxation.
    Excellent analysis.
 
 
 
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