to think all buy to let people are just in it to get someone else to work to pay off their mortgage?

(684 Posts)
madhurjazz Sat 03-Sep-16 07:13:14

I wish people would say it as it is. Buy to let in my mind is just about getting someone else that can't afford a deposit / without a stable job to do all the hard work to pay off the mortgage of someone else. It does feel like a massive step backwards in equality.

Very few actually want to rent, the vast majority are stuck doing so as speculation keeps pushing ownership out of reach.

HateSummer Sat 03-Sep-16 07:14:25

I've never thought of it that way. I guess you're right. Shit isn't it?

Donatellalymanmoss Sat 03-Sep-16 07:18:20

I'm really not sure what your point is.

Buy to let is about investing money in property as a way of making more money. It's popular because interest rates are low.

What did you think people did it?

eyebrowsonfleek Sat 03-Sep-16 07:18:39

I think that there's more than one reason for buy to let and while I ne'er stand your thinking, there are groups like people who become landlords because they inherit property or negative equity who shouldn't be judged badly.

Ameliablue Sat 03-Sep-16 07:21:24

Not all renters do so because they can't get a mortgage.

Buttfucknowhere Sat 03-Sep-16 07:21:26

I agree that is an unfortunate side effect of the buy to let market, but I don't agree that's people's motivation.
Property is still one of the best places to put your money, I don't think most landlords are in it to deliberately screw over the average renter.

CalmYaTits Sat 03-Sep-16 07:21:43

Do you think they should let someone live in their property for free?hmm

manyathingyouknow Sat 03-Sep-16 07:22:55

And your point is?

It's an investment. No one opens their mouth about, say, equity ISAs or unit trusts or single stocks but someone is wise enough to invest in property and folk come out the wood work to castigate them. It smacks of jealousy.

I don't own any BTL properties but I wish I did.

Ginmakesitallok Sat 03-Sep-16 07:23:30

Well of course people make investments to make money??

FathomsDeep Sat 03-Sep-16 07:23:53

Well yes. Fairly obviously BTL landlords are in it to make money. Why would anyone think otherwise?

QuiteLikely5 Sat 03-Sep-16 07:24:04

Why the resentment?

EarthboundMisfit Sat 03-Sep-16 07:24:11

Well, yes.

welshweasel Sat 03-Sep-16 07:24:21

I have a buy to let mortgage on a flat, which I couldn't sell when I bought a larger property with my husband. It's actually an interest only mortgage.

I'm not really sure what your point is?

ImYourMama Sat 03-Sep-16 07:25:03

And why is 'equality' coming into play? If you can't get a deposit together, why should you know the benefit of home ownership? If you don't own a home you have to rent. You really have no valid point- I intend to be a landlord by the age of 28 and already have a large chunk of money saved to invest in such a property. That's because I plan and look at how to make my money grow, and not expect others to make the world be nice to me. Equality is irrelevant in this context

MissMargie Sat 03-Sep-16 07:25:49

Buy to let is a good place to put your savings when there is no bank interest rates that keep up with inflation

whatyouseeiswhatyouget Sat 03-Sep-16 07:26:04

Ex and I did it for a while because it made financial sense for us at the time to keep his flat on when we bought a house together. At no point did I think 'hurrah we can screw people less rich than us'.. we were good landlords and charged fair market rent which yes, covered the mortgage. Not sure what the alternative is realistically? You can ban people from owning more than one property in a free society. Provided all taxes due are paid, that's it

whatyouseeiswhatyouget Sat 03-Sep-16 07:26:49

CAN'T ban obviously!

Sittingintheshade Sat 03-Sep-16 07:27:11

I happen to own a property, a flat I lived in before I moved in with my partner. We got married and sold his house to buy a bigger one, but my flat would likely be in negative equity and difficult to sell. Now I'm stuck being a landlord, I have to pay tax of course and an agent to run it, an accountant to do the books. Definitely would rather we didn't have all the hassle tbh

MothershipG Sat 03-Sep-16 07:28:04

With interest rates at a record low investing in property is one of the few ways to make savings keep pace with costs and not depreciate.

But because this increases demand it pushes up house prices making it even harder for first time buyers.

So although I agree with you if I was in a position to invest in property I'm not sure I would sacrifice my own financial security to principle.

Would you?

DorotheaHomeAlone Sat 03-Sep-16 07:28:53

What a strange, naïve way of looking at the world. They own property because they have capital and want a good return on it as they would with any other investment. The renters pay for use of that capital and don't own because they either have no capital or have it invested elsewhere. People aren't entitled to own houses. Capital ownership is not intrinsically 'fair'. That's the capitalist system.

ilovesooty Sat 03-Sep-16 07:29:24

Is this meant to be controversial?

pauldacreshairlessnutsack Sat 03-Sep-16 07:30:01

I hate the "it is an investment" rubbish.

If you are a buy to letter, you are running a business. You provide a service in exchange for money. You are doing no one but yourselves a favour.

In addition, it fascinates me the opprobrium benefits claimants get for daring to seek the help they are entitled to. Surely, we should start questioning how taxpayer's money is being use to subsidise buy to letters etc. No other business gets that kind of government assistance no?

I suppose that unlike Amazon etc., we should be grateful they pay some tax.

Onemorewonthurt Sat 03-Sep-16 07:31:55

A lot of people can't get a mortgage for various other reasons, without private sector landlords who's going to house them?
Your theory can also apply to many scenarios.

carabos Sat 03-Sep-16 07:32:55

We have been renting for 12 years. Before that we owned our house and in a couple of weeks we are moving to a new house that we are buying. We stayed in rented for so long because it was the right property in the right place at the right time. It isn't now. Not everyone rents because they can't afford to buy hmm.

cosmicglittergirl Sat 03-Sep-16 07:32:55

Hardly. People need somewhere to rent. I had no interest in buying a property until I was 35, before that I was happy to rent and mostly had very good landlords. What's the alternative if young people want to move out from their parents and don't have a deposit? I chose to rent in areas of London I would never be able to buy in. Is the answer to have a law stating only one property PE person and state controlled renting?

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