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Author Topic: No more mortgage payments on this property.  (Read 17593 times)

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TheBoy

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Re: No more mortgage payments on this property.
« Reply #60 on: 18 January 2021, 19:41:48 »
Quote from: Migv6 le Frog Fan on 18 January 2021, 19:36:12
Yep, there has been a perfect storm with house price rises. A large growth in population in a short space of time - thanks to B. Liar.
Developers and Supermarket chains buying up land and just sitting on it.
Chinese, Russian and Arab buyers buying up lots of property in London, and often not even bothering to rent it out. Just sitting back and watching prices rise.
The biggest factor has to be population growth though I would imagine.
Politicians created the crisis, so they should take responsibility for it and do something to solve it.
They are doing the opposite at the moment though, with stamp duty holidays and the like to try and keep the market bouyant.
This is from people who claim to believe in market economics.
If the economy is in deep trouble, house prices should drop. Let it happen, and some good can come out of the economic chaos of the current crisis.
I hate bloody wishy washy liberals like you.  Just cull people ;D
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Doctor Gollum

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Re: No more mortgage payments on this property.
« Reply #61 on: 18 January 2021, 19:47:06 »
They're trying to, but new people are popping out faster than the Chinese virus* can get rid of them...  ::)

*it's called the Chinese virus because it comes from China :D
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TheBoy

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Re: No more mortgage payments on this property.
« Reply #62 on: 18 January 2021, 19:51:45 »
Quote from: Doctor Gollum on 18 January 2021, 19:47:06
They're trying to, but new people are popping out faster than the Chinese virus* can get rid of them...  ::)

*it's called the Chinese virus because it comes from China :D
No, that sniffle thing was never going to be fast enough.  And besides, the cull needs to be more targeted to improve the gene pool ;D
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Doctor Gollum

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Re: No more mortgage payments on this property.
« Reply #63 on: 18 January 2021, 19:58:31 »
It might be a bit late for that...  :D
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Sir Tigger KC

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Re: No more mortgage payments on this property.
« Reply #64 on: 18 January 2021, 19:59:13 »
We could always reverse the 'one way system' across the English Channel and only allow the rubber dinghies to go south.  Inbound rubber dinghies would only be allowed to land at Thurso.

We could then reduce the population by 16 million or so.  ;)
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Re: No more mortgage payments on this property.
« Reply #65 on: 18 January 2021, 23:00:44 »
Quote from: Field Marshal Dr. Opti on 14 January 2021, 21:08:23
A number of people got into 'buy to rent' back in the day. Not so lucrative now.

It's not real wealth when a property has a mortgage on it. It looks good on paper but .........

Pretty sure that Tigger fella owns houses in darkest 'Darzett' :)

For me it's all about return on investment. 5 years in. 
We invested 42k and pay tax on £6k profit
Which appears to be 14%.  However, the value has risen so if we were to get out now, after fees and tax etc would end up with an extra 25k which I think we can call £5k a year
So over 5 years 26% return on that 42k per year.

Mortgage is reduced by the profit every year so in reality the return on equity is decreasing as our equity increases and the profit is fairly straight. 

But yes BTL not as lucrative as you think.
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Migv6 le Frog Fan

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Re: No more mortgage payments on this property.
« Reply #66 on: 18 January 2021, 23:24:56 »
Well, I call it the unacceptable face of Capitalism.  :P ;D
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Doctor Gollum

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Re: No more mortgage payments on this property.
« Reply #67 on: 19 January 2021, 01:49:59 »
Quote from: Migv6 le Frog Fan on 18 January 2021, 23:24:56
Well, I call it the unacceptable face of Capitalism.  :P ;D
The irony is utterly wasted ::)
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Re: No more mortgage payments on this property.
« Reply #68 on: 19 January 2021, 12:15:01 »
Quote from: Doctor Gollum on 19 January 2021, 01:49:59
Quote from: Migv6 le Frog Fan on 18 January 2021, 23:24:56
Well, I call it the unacceptable face of Capitalism.  :P ;D
The irony is utterly wasted ::)

I feel like getting wasted.
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Rangie

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Re: No more mortgage payments on this property.
« Reply #69 on: 19 January 2021, 15:08:13 »
Got rid of our BTL just over 3 years ago , what a bit of luck..😄
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