Lloyds Banking Share Discussion Threads

[pierre oreilly] 12/4/2020 21:47

The last thing I would want is a, or several, btl. If you have a mortgage on it, then it's an incredibly highly geared investment, making megabucks when properties rise if you actually sell, and losing megabucks if they dip and you're forced to sell. I doubt these days there's a great profit in the monthly rent. I was forced into renting out my first flat when it couldn't be sold - what a pain in the neck. Get managers and they take 20% plus order lots of other costs for you. DIY and you turn up to show someone the flat, and lots of times people don't turn up. What a weight off my shoulders when I finally managed to sell - no more renting for me, and I never had any nightmare tenants, but several who simply didn't have the cash frequently to pay the rent. I never felt comfrtable taking a big slug of their wages off people much less well off than myself.

But that wasn't my point. The distasteful aspect imv of btl is the increasing in prices he btl demand causes, making youngsters rent for many extra years that the previous generation. To say btl landlords are the solution for youngsters wanting to buy is simply absurd. I hope the gov keep changing the balance making btl less attractive to landlords (as they have recently been doing) to get many btl to sell up and give the youngsters a chance of buying.

And buying is a real advantage over renting - for a start you have somewhere permanent for as long as you want (if you keep paying the bills that is).

[jl5006] 12/4/2020 20:26

Q is want to be a day trader or an investor.??
u cant have it the way u want.
Go to IG and bet ur fancy - 70% lose yet complaints about HL Funn charges - which are not for changes - b/s but for holding.
Bit like banking withdrawals have to be free - no they dont - and things will change.

[cheshire pete] 12/4/2020 19:29

Gordon Brown raiding pension funds in 1997 was a game changer. Property became more attractive until Osbourne withdrew tax relief on finance. Good times in between.

[amaretto1] 12/4/2020 19:24

Unless you can buy property 2 beds at 50-60 k U can in the north still !

[ignoble] 12/4/2020 19:20

If the Supermarkets can remain open, even Halfords... A couple of blokes working outside following the regulations could surely do no more harm

Common sense must prevail...

[poikka] 12/4/2020 19:04

French metal companies urging their government to restart parts of their economy asap under strict controls.

And:

"The Spanish government plans on Monday to revert to the less strict curbs in force up to March 27, allowing some businesses that cannot work remotely, including construction and manufacturing, to reopen, and triggering concerns of a resurgence.

Catalan leader Quim Torra described the decision to restart these sectors as irresponsible and reckless.

“The risk of a new outbreak and a second lockdown is enormous,” he said at a news conference.

Sanchez told reporters the decision to restart some sectors of the economy was taken after consulting a committee of scientific experts and any further winding down would depend on gains made against the virus."

We should be doing likewise, but under strict controls, and little by little. We can't just hang around twiddling our thumbs while the economy gets trashed - and for no good reason; it's illogical, ffs!

[ignoble] 12/4/2020 17:43

The Banksdo all they can to keep Property Purchase attractive.
Gawd help them if values fall and the old Negative Equity rears its head...

[diku] 12/4/2020 17:41

Those who started buy to let say 10 or 15 years will have done ok...anybody buying now or bought in the last 3 - 5years the figures just doesn't stack up...

[jl5006] 12/4/2020 17:34

IGN 295
Does it matter who the LL is?
If the expression LL is outdated - what is the word?

[jl5006] 12/4/2020 17:32

IGN
So right
Property maintenance is a huge cost if you buy a flat - leasehold of course - you pay what contractors charge.
Property maintenance is a huge cost if you buy a freehold property and are not able to manage basic painting /decorating etc
Dont forget the mad greeners - and the commitment to stop gas heating in new homes - new eco boilers will cost £10k.
LLs will have to manage these and other problems. A Ist time buyer who cant change a light bulb- and the new fittings are more difficult - will be penniless in no time.
Let the landlord take the risk

[ignoble] 12/4/2020 17:22

Could be wrong but think a lot of private housing in Europe is owned by Pension Funds
They are the Landlord...

Could be wrong...

Landlord is such an outdated expression Land LORD... Really, lol

[utrickytrees] 12/4/2020 17:19

Bungalows are the way to go get them spec'd up with low tech gadgets like electric can openers, inflatable bath lifts & nose hair trimmers & Robert's ya dads brother, they absolutely love it.

[jl5006] 12/4/2020 17:18

The majority of people in France rent their properties - as they do in Switzerland and other EU countries.
What is this mad idea that buying a house with a mortgage is such a great idea?
Any graduate will be stuffed full of Uni fee loans that they have little chance of a mortgage. Those that have rich parent/s may get one with a big deposit.
The risks are huge - try selling your 250k bought property of 2 yrs ago - £125 k - best offers if ur buyer can get a mortgage.
Game has changed -

[bbalanjones] 12/4/2020 17:18

Amen, Amen . . . . . and it came to pass that when the esteemed Leader had confessed his "Road to Damascus" conversion to our NHS . . . . . that on his release from near death across the river, he was shipped off to his Country Seat that he may be successfully re-infected with the Party Line.

[ignoble] 12/4/2020 16:57

Greedy Landlords?
There is very little profit in letting
It is along term investment and the return comes after many years, if, as and when the property is sold.
The sale is subject to Capital Gains Tax
The property cannot be gifted to a child as again it creates tax liability.
The costs of letting are many
Rental Income is taxable.
Insurance, gas certification and other costs dig into the monthly income.
Maintenance issues are ongoing as are replacement or repair costs.Decoration needs to be maintained.
It is not a licence to print money.


Owning a home is not, as such, an investment as it is sold to us all.
It is a liability and the cost of maintenance is an ongoing money pit.
Monthly outgoings are a small fortune.

It is not worth a penny to you until you die and it is sold for the benefit of your children.
It does keep a roof over your head and is relatively secure once the mortgage is paid off.
Pray you don't need to go into a Nursing Home and it has to be sold..
25 years of paying a mortgage to see it all gone...
Not sure that if I had my life again that I would buy.
Instead, put monthly savings into accounts over 30 years or so and let someone else have the risk of the property
World has changed so much over the last 40 years... The game has changed
Imho...

[maxk] 12/4/2020 16:07

And the tories have had long enough to overturn the pensions tax grab.



Where is it?

[mr.elbee] 12/4/2020 16:00

none of this disgraceful buy to let lark happened before Brown took away Pension tax relief.

[diku] 12/4/2020 15:47

Not everybody are able to go to university and later be able to buy their own property...there are many who prefer to rent than buy so landlords do fill the gap...





Landlords do take risks - that isn't the point. The point is they help to remove opportunity from others and they generally remove that opportunity by using other people's money and not their own.