why not?
Lol, ignore me, didn't pay attention to "Room for rent"
why not?
What schemes. You don't mean part ownership, where a buyer purchases say a quarter of the property. These properties cannot be let without full ownership.
Because it upsets the socialists to profit from one's labours.
Not really. I'm just ranting on how I think it should be better.
£1,000 a month to RENT
hahahahahahaha
Thanks OP, I honestly needed cheering up today
I'm not saying there are definitely some. I was just arguing that if someone can afford to buy a 2nd home and rent it out then why shouldn't they?
They're generally not buying it themselves though are they?. Someone else is through paying rent and they won't get to own it.
They're generally not buying it themselves though are they?. Someone else is through paying rent and they won't get to own it.
Well, before Gordon Brown gave landlords all these tax breaks and BTL really took off, funnily enough it was a heck of a lot easier to save a 10% deposit, and most people probably managed it. Graduate, work for a few years, buy first home. BTL completely sweeps away the bottom rung of the ladder, because the best BTL investments are 1-2bed flats. These are exactly the type of places that FTBs want. But they can't afford them anymore. You can even see it in prices. Where I used to live 2bed flats have now hit 500k but you can get 3-4bed houses for 600k.No you're right. But they saved up the ~10% deposit which sometimes isn't an easy feat (otherwise everyone would be a homeowner) and provided someone else who can't afford to save up a deposit with a roof over their head.
I take it you don't rent? I'd be impressed if you can find a single person out there that wants to rent. It's forced upon people due to house prices being so high. I don't want to pay off some other ****s mortgage for him. I don't want to pay 50% of my income towards paying off his debt. Why would I? Do I really want to live in every home with the threat of 2 months notice hanging over me? No of course not. I actually just got kicked out of my flat after 5 years of living there. We got on really well with our landlords, then bam they want to refurbish so off we go. That place was my home. We had friends there, we had a local, restaurants where the staff knew us. But because rents keep going up we can't afford it anymore. So we're now on the other side of London feeling completely lost. We're not poor, we're not in danger of being homeless but this sort of thing is happening every day to normal working people. It's no way to live.There's a market for it and people go for it. Everyone involved in that immediate transaction wins. Owner of the house has an investment and the people renting have a roof over their head.
For some reason I get hardly any loan because my Mum met some guy I don't know and so I can't afford to live in London unless I live with my girlfriend in a tiny box room.
Haha full crazy has happened. The immigration post is like OcUK's very own Godwin's Law.
Ok so what he's saying is that demand generated through increased migration should be reduced and that other countries, such as India, require you to be a resident before being able to purchase a property. Rather than allowing investors from Hong Kong buying up blocks of empty flats in central London.
How is that crazy?
Foreign buyers are 3% of all London transactions. I'm really not sure any restrictions on them would have any effect. Any kind of restriction on investment from national or international people is only going to result in less properties being built. The market basically loses supply.
How is that crazy?