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AIBU?

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

683 replies

madhurjazz · 03/09/2016 07:13

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.

OP posts:
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HateSummer · 03/09/2016 07:14

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

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Donatellalymanmoss · 03/09/2016 07:18

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?

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eyebrowsonfleek · 03/09/2016 07:18

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.

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Ameliablue · 03/09/2016 07:21

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

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Buttfucknowhere · 03/09/2016 07:21

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.

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CalmYaTits · 03/09/2016 07:21

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

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manyathingyouknow · 03/09/2016 07:22

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.

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Ginmakesitallok · 03/09/2016 07:23

Well of course people make investments to make money??

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FathomsDeep · 03/09/2016 07:23

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

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QuiteLikely5 · 03/09/2016 07:24

Why the resentment?

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EarthboundMisfit · 03/09/2016 07:24

Well, yes.

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welshweasel · 03/09/2016 07:24

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?

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ImYourMama · 03/09/2016 07:25

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

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MissMargie · 03/09/2016 07:25

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

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whatyouseeiswhatyouget · 03/09/2016 07:26

This reply has been deleted

Message withdrawn at poster's request.

whatyouseeiswhatyouget · 03/09/2016 07:26

This reply has been deleted

Message withdrawn at poster's request.

Sittingintheshade · 03/09/2016 07:27

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

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MothershipG · 03/09/2016 07:28

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?

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DorotheaHomeAlone · 03/09/2016 07:28

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.

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ilovesooty · 03/09/2016 07:29

Is this meant to be controversial?

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pauldacreshairlessnutsack · 03/09/2016 07:30

This reply has been deleted

Message withdrawn at poster's request.

Onemorewonthurt · 03/09/2016 07:31

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.

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carabos · 03/09/2016 07:32

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.

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cosmicglittergirl · 03/09/2016 07:32

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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CedricSydneySneer · 03/09/2016 07:33

Hmm, some people become accidental landlords. Dh and I both had our property before we married and it made sense to rent one out. We weren't rubbing our hands together.

However the road I grew up on was a council road, now literally all the houses are privately owned through right to buy. They're nearly all rented out privately for more than council rent.

We do need private rentals but there's is a problem with housing affordability and security.

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