Reply With QuoteIt is a ridiculous situation in a lot of places where it is cheaper to get a mortgage than it is to rent an equivalent property - why should the cheaper option only be available to those with capital.
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It is a ridiculous situation in a lot of places where it is cheaper to get a mortgage than it is to rent an equivalent property - why should the cheaper option only be available to those with capital.
I had a 100% mortgage in 1994. I had to pay an extra £1000 on the mortgage as an indemnity, to protect the lender. I paid it off on time with no missed payments.
If I did not get a 100% mortgage I would not have been able to get a mortgage and I would be now paying massive rents for the ret of my life.
Do the words Northern Rock not mean anything to the Skipton board?
because landlords don't have the same mortgage options as those buying to live in. as a buyer, you might be able to secure a mortgage for 90-95% LTV, whereas as a buy to let landlord, you may have a loan to value of 60%. As a landlord, you also have costs not associated with mortgage, such as repairs, maintenance, agency fees, and so on.Originally Posted by Rjk
you are not comapring like for like
Bold of you to assume landlords bother with any of that
..and Gas, Electricity compliance/checks, fire risk assessments, fees to Welsh Govt., upgrading energy ratings, etc, etc,. Then up to 40% tax if you happen to make a profit. My surveyor friend reckons within 2 years places like Cardiff will have 50% fewer properties in the PRS. No wonder Lloyds Bank are getting in on the act - rents will be 40 -50% higher
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