To think we should ban private renting?

Personally I think a lot is the fault of developers building housing that people don't want or can't afford.

There's a large new build development in my city which is mainly empty and unsold because nobody wants to pay half a million for a house in the most notorious crime-riddled area of the city (this is an area of the country where that type of money usually buys you a lot of house). They then make special discounts, but only for certain groups, so first time buyers can get discounts, "key workers" can get discounts etc. Why not just make them more affordable for everyone?

Oh boo hoo.

The asset is the profit, the property that a tenant pays off for you.

You effectively pay 60k for an entire house, and wanting a monthly profit on top is just insanely greedy.

That’s also true even if ‘publically’ owned. Where do you think the money would come from?

What?

Which bit of BTL mortgages are usually interest only do you not understand? The tenant is not paying off the mortgage at all.

In the end BTL mortgages will usually be paid off from the sale of the house.

It would not be profitable in most cases for BTL mortgages to be repayment based.

Then don't privately rent. You can put your name down for social housing and wait.

The fly in the ointment with that is that the homeless will need to hop ahead if their private rental is sold up. Or financial circumstances mean that they lose their home through divorce, job loss.they are of course priority.

My post related to profit earned from money borrowed. How do you think developments happen? Taylor Wimpey save up before starting a development?
Just what your reply is meant to mean, I just don’t know. But if everyone stopped renting privately, how long would the wait for social housing be? Are empty owned properties going to miraculously morph into housing association owned overnight? Not likely, they’d be on the housing market instead.
(Shakes head).

The equity skyrockets over the life of a mortgage and you know it, or you wouldn't do it.

I wish landlords would stop moaning about how little they make from their predatory habits.

Well stick to living in social housing and benefit your community.

I don't understand what you mean

@justasking111 seems to be existing in an unreal world where living in social housing should be a preferred choice .
Many of us wouldn’t have that choice extended to us as for one reason or other we’d fault to gain enough points or whatever to bid for a home, as we work/have savings/whatever arcane reasons might be applied.

Outside of London the equity doesn't really "skyrocket", but yes it does increase. However, I could easily take that same equity and put it in a stocks and shares ISA (obviously up to the limit over 3 years) and could get a similar return tax free, or I could take the same equity and throw it at my private pension to be invested again for a similar if not better return. Many LLs are now selling up and doing that for precisely this reason.

The equity also only holds if the tenants haven't destroyed the property in the meantime. Have a look on Landlords UK Facebook group to see how some properties are left.

You seem determined to be very judgemental over other people's decisions. We don't all go into these things for the same reasons. The reasons I got into this is due to very personal circumstances which I can't go into on a public forum, but I do get fed up of these accusations made with little to no real understanding of what you are talking about.