Housing probabilities

[Sload]

Currently, in the market for buying, cash sum available and will require a mortgage but it seems the market has had another shot of Helium . Anyone else making predictions?

Also for the BTL landlords, I'm reading stirrings that might indicate a glut of properties being dumped onto the market, what's your take?

And as an anecdotal check this one out:

2.1 miliion purchase
Rent PA at 55.4k

https://www.rightmove.co.uk/property-for-sale/property-47068038.html?utm_medium=shorturl&utm_campaign=smspropertydetails&utm_source=url
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Honda Varadero >> Triumph Speed Four >> Honda CBR1100xx

[M.C]

Stop it you're making me depressed

[Sload]

[Copycat73]

[andyscooter]

mate of mines just bought a couple of two bedroom flats for not a lot of money to rent out

he also has just bought an apartment in spain to use for holidays and the extra rent on the flats will pay for it

he can pay if flats are empty anyway as well as the two mortgages for the flats but the flats have never been empty for more then a month so far
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gilera runner vxr200 (chavped)
if its spelt wrong its my fat fingers and daft auto correct on my tablet

[M.C]

[angryjonny]

That's not one house, it's a portfolio of 6, unless I've misunderstood.

[Ste]

Offers in excess of £2,100,000 and yeah, it's for six properties so that's £350k each. Look at similar properties that have recently sold and they sell for about £450k.

[Sload]

Correct, I worked out the yield at 2.64%. All things equal that's £769 rental per month per property. I'm not a landlord but the deal looks crazy to me

It's premised on hpi gains I guess.

I'm also reading Carney has managed to pry open the credit taps a bit more again.
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Honda Varadero >> Triumph Speed Four >> Honda CBR1100xx

[Tracey Suntan-King]

[Itchy]

[Derivative]

Locally prices seem to be dipping at the moment, or at least standing relatively still.

Stamp duty on primary residence is a bit of a pain though.

Speaking personally, I'd prefer CGT on principal residence because I doubt I'd want to live in a starter home for more than a couple of years.

I think stamp duty is another instance where UK-wide rules just don't really work. Anywhere in London hits the 125K threshold, virtually anywhere hits the 5% band (250K) and most are well into that so you're looking at 2-3% stamp duty regardless of how long you stay there.

As an aside, how does 'principal residence' work if you buy a home with a few months left to go on a tenancy? Presumably that's quite a common thing, do you just claim the new place is principal even if you're doing it up first?

[Ste]

[Itchy]

[Sload]

[DrDonnyBrago]

[M.C]

I don't understand why you would bother. You could dip into that taking £42,000 a year and it would last you 50 years, or generate 55k minus all your costs. Is it just me?

It's like on property programs such as escape to the country, the obscene sums of money that I could quite happily retire on. I realise people are not (generally) buying houses with cash, but when it's 700k for a cottage in some dead village, you wonder what people are smoking.

[Itchy]

[Itchy]

[M.C]

[Sload]

Getting a mixed bag of feedback from the agents but the consensus is we will continue to rise as opposed to stagnate.

I know from looking and tracking it's regional but this could also be from the currency devaluation and they are stagnant and are not shifting in real terms.
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Honda Varadero >> Triumph Speed Four >> Honda CBR1100xx

[Itchy]

[iooi]

[Itchy]

[Sload]

Blinkin eck! https://www.bbc.co.uk/programmes/b08g2tvy
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Honda Varadero >> Triumph Speed Four >> Honda CBR1100xx