Is BTL still possible?
Discussion
jmn said:
The EPC issue is one potential problem but there is also the forthcoming Decent Homes Standard which will impose certain requirements on the accommodation before it can be lawfully let. For example the Kitchen must not be more than 20 years old.
The new Landlord Portal which has been proposed would enable Landlords to self certify that their property meets all legal requirements but apparently false or negligent statements would be a criminal offence.
Yet another reason for landlords to invest elsewhere. How on earth can you prove a kitchen is only 19?The new Landlord Portal which has been proposed would enable Landlords to self certify that their property meets all legal requirements but apparently false or negligent statements would be a criminal offence.
Guaranteed 8% https://www.rightmove.co.uk/properties/87041608
Probably impossible to mortgage and resell but you can certainly still get 8% and over up north.
Probably impossible to mortgage and resell but you can certainly still get 8% and over up north.
BoRED S2upid said:
Guaranteed 8% https://www.rightmove.co.uk/properties/87041608
Probably impossible to mortgage and resell but you can certainly still get 8% and over up north.
Hmm…Probably impossible to mortgage and resell but you can certainly still get 8% and over up north.
That’s your market, and there are an awful, awful lot of student properties there. Studio, so limited resale market, limited rental market, lower capital growth, limited lending options. Guaranteed rent - what’s it worth without the guarantee bung, how long is the guarantee for, is the developer/solicitor going to leg it with your cash/go bust/just stop paying etc.
NomduJour said:
That’s your market, and there are an awful, awful lot of student properties there. Studio, so limited resale market, limited rental market, lower capital growth, limited lending options. Guaranteed rent - what’s it worth without the guarantee bung, how long is the guarantee for, is the developer/solicitor going to leg it with your cash/go bust/just stop paying etc.
Ok poor example. Try this https://www.rightmove.co.uk/properties/130795022
Tenant already in place.
BoRED S2upid said:
"Ground rent is £500 per annum, with a 10 yrly inflationary reviewService Charge is £1685.05 per annum, with an additional £425 a year for insurance contributions. "
BoRED S2upid said:
Guaranteed 8% https://www.rightmove.co.uk/properties/87041608
Probably impossible to mortgage and resell but you can certainly still get 8% and over up north.
The North is a lot bigger than Liverpool. Also, I own a decent sized portfolio in the NW and would be ecstatic at the idea of an 8% yield on any of them when compared to what it would cost to buy those properties today. I’m earning around 8% net based on purchase prices from over a decade ago. Probably impossible to mortgage and resell but you can certainly still get 8% and over up north.
This whole concept of “The North” being one simple market is ridiculous. I could pick a house in a crappy town like Hastings and pretend that it reflects Central London if I wanted to define The South.
LF5335 said:
BoRED S2upid said:
Guaranteed 8% https://www.rightmove.co.uk/properties/87041608
Probably impossible to mortgage and resell but you can certainly still get 8% and over up north.
The North is a lot bigger than Liverpool. Also, I own a decent sized portfolio in the NW and would be ecstatic at the idea of an 8% yield on any of them when compared to what it would cost to buy those properties today. I’m earning around 8% net based on purchase prices from over a decade ago. Probably impossible to mortgage and resell but you can certainly still get 8% and over up north.
This whole concept of “The North” being one simple market is ridiculous. I could pick a house in a crappy town like Hastings and pretend that it reflects Central London if I wanted to define The South.
Not for me I’m happy with probably 4% with some capital appreciation. Something you probably won’t be getting from these s
t holes I posted earlier. 
BoRED S2upid said:
Buying for cash you’re getting about £4.5k p.a. back, after the charges - minus management, repairs, maintenance, voids, other insurances etc. Putting down £30k at ~5% interest-only over 25 years, that’s your gross income all gone.Quite a handsome building though.
Bubbles close to bursting for me .
Both mortgages significantly increase circa £100 pcm up to £260 pcm.
For context this goes from £1000 pcm rent less mortgage £800 .
£1000pcm rent less mortgage to £500
Time for the long game to come into play, here’s hoping there are no more significant issues once the boiler has been replaced.
Both mortgages significantly increase circa £100 pcm up to £260 pcm.
For context this goes from £1000 pcm rent less mortgage £800 .
£1000pcm rent less mortgage to £500
Time for the long game to come into play, here’s hoping there are no more significant issues once the boiler has been replaced.
xeny said:
andy43 said:
Yet another reason for landlords to invest elsewhere. How on earth can you prove a kitchen is only 19?
Receipts for the work?98elise said:
xeny said:
andy43 said:
Yet another reason for landlords to invest elsewhere. How on earth can you prove a kitchen is only 19?
Receipts for the work?LF5335 said:
Condi said:
goldar said:
A return of 10% pa would be ideal.
Wouldn't we all
Shop premises £50k. FRI lease at £500pcm. October '22. Friend's landlord sold due to her terminal cancer and desire to return to China to die.
Shop premises £60k sold with FRI at £625pcm. Jan '23. Dog groomer. Off market sale from professional property trader.
Shop premises £40k. Feb '23. FRI lease at £400 rising to 425 in 2024 and 450 in 2025. Beautician. Auction purchase
Next (April hopefully) is shop premises £50k sold with FRI lease £450pcm. Ice creams/desserts. Referred by people who're buying the business. Landlord retiring.
Both the 2nd and 3rd premises had been bought for £20k less than I paid only weeks prior to my purchase.
goldar said:
Armitage.Shanks said:
Register1 said:
In which price bracket up north is the sweet spot to buy a property?
What type of property for the first time landlord?
Depends if you're looking for just income or capital gain as well. Properties can be had for £80k but in areas where they see little capital rise.What type of property for the first time landlord?
Others will give you a better idea as I've no interest in BTL at all, despite having one (rented) and another with a relative in (made a decent wedge on capital gains). The rented one I view as a millstone but I've nothing else to do with the money it owes me
If I needed the income then naturally I'd have a different view.Not really looking for a property that is going to double in value, more so just more of a monthly return.
If my monthly mortgage is say £500 a month, then I would hope to get back say £650 every month.
If it goes up in value, then thats a bonus.
I am leaning to two types of properties.
1. 1 bedroom bungalows, for the older person or persons. Cost about £130,000
2. 3 bedroom detached for a small family. Cost about £160,000
Register1 said:
This is my quest.
Not really looking for a property that is going to double in value, more so just more of a monthly return.
If my monthly mortgage is say £500 a month, then I would hope to get back say £650 every month.
If it goes up in value, then thats a bonus.
I am leaning to two types of properties.
1. 1 bedroom bungalows, for the older person or persons. Cost about £130,000
2. 3 bedroom detached for a small family. Cost about £160,000
Sounds sensible and are the types of property that will attract decent tenants Not really looking for a property that is going to double in value, more so just more of a monthly return.
If my monthly mortgage is say £500 a month, then I would hope to get back say £650 every month.
If it goes up in value, then thats a bonus.
I am leaning to two types of properties.
1. 1 bedroom bungalows, for the older person or persons. Cost about £130,000
2. 3 bedroom detached for a small family. Cost about £160,000
https://www.rightmove.co.uk/properties/131568542
Will get you £600 - £650 pcm. PM if you want I know the area very well.
Edited by BoRED S2upid on Friday 31st March 19:11
BoRED S2upid said:
Register1 said:
This is my quest.
Not really looking for a property that is going to double in value, more so just more of a monthly return.
If my monthly mortgage is say £500 a month, then I would hope to get back say £650 every month.
If it goes up in value, then thats a bonus.
I am leaning to two types of properties.
1. 1 bedroom bungalows, for the older person or persons. Cost about £130,000
2. 3 bedroom detached for a small family. Cost about £160,000
Sounds sensible and are the types of property that will attract decent tenants Not really looking for a property that is going to double in value, more so just more of a monthly return.
If my monthly mortgage is say £500 a month, then I would hope to get back say £650 every month.
If it goes up in value, then thats a bonus.
I am leaning to two types of properties.
1. 1 bedroom bungalows, for the older person or persons. Cost about £130,000
2. 3 bedroom detached for a small family. Cost about £160,000
https://www.rightmove.co.uk/properties/131568542
Will get you £600 - £650 pcm. PM if you want I know the area very well.
Edited by BoRED S2upid on Friday 31st March 19:11
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