Will try to keep this as brief as possible ... the situation is that my DS lives in supported accommodation with carers going in - he rents his current flat with housing benefit but the area's becoming dangerous and I'd prefer him to move
A recent inheritance means I could buy a mortgage-free flat for him in a better area - I'd be stung for the new BTL stamp duty from April, but apart from this, the usual legal costs for purchase and tax on the rental income, it seems workable so far
The crucial thing is DS's future happiness and security, but I also have to consider that, unlike with a "normal" BTL, I couldn't easily sell the flat for any reason as he struggles with change - and anyway the place I've seen is gorgeous and he wouldn't want to lose it!!
I guess what's worrying me is the publicity about the government gunning for BTL landlords, general "landlords are all bastards who've got it coming to them" feeling and so on; I'm concerned that, in genuinely trying to help my son, I could get caught up in legislation really meant to penalize big investors. Obviously I don't expect anyone to make my decision for me, but does anyone else feel this is a sensible step to take in my situation?
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Does buy to let make sense in under these circumstances, please?
14 replies
Puzzledandpissedoff · 30/03/2016 13:40
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