It's like how a renter can't use the proof that they can afford , and do pay £x amount on rent each month to get their own mortgage but their rent can pay their landlord's mortgage.One of the most stupid things about the housing market is that buy-to-let landlords can rely on tenants income for getting a mortgage on multiple second properties, but first time buyers can't rely on an income of a lodger. One rule for some, another for others.
Exactly. My relatives are in their 60s, have both ran their own businesses and bought rental properties when the prices were a lot lower. I can't afford certain things but I'm bitter than others can, they've earned their money, they can spend it.I know a lot of good landlords in my job, many rent lower thank market rate for good properties. Some are scum but I’d say most are not.
My parents have just taken on new tenants, theirs is well below market rate. They do no exploit their tenants and they have it as an investment/inheritance for me.
Some landlords are money grabby wannabe entrepreneurs, some are people who have invested in property with little expertise and no clue what they are doing despite their best intentions.It's not like many other businesses. It relys on pricing people out of something essential and is exploitative by nature.
Very parasitic and provides next to no value to society. It's causing untold havoc for the whole of society with people feeling unable to put down roots and being seen as a failure for renting.
It's mainly people that were born at the right time to buy when house prices were affordable and they've now remortgaged to speculate on. They slap themselves on the back at what a great business person they are because they've benefited from the loose lending and printing that keeps causing asset bubbles.
"Most landlords are fantastic" evidence please? Your posts on this thread are interesting. Most landlords are like most businesses and want to make the most money.
You don’t need to be bitter to comment on someone else’s relative privileges. We all have *some* privilege that others don’t benefit from, it’s not a hateful exercise to point out your own or others’.I can't afford certain things but I'm bitter than others can, they've earned their money, they can spend it.
Oops, that was a typo on my post. Should have said not bitter. I'm not it going to apologise for owning my home, I've gone without a lot and continue to do so. I feel bad for anybody that is stuck in renting.You don’t need to be bitter to comment on someone else’s relative privileges. We all have *some* privilege that others don’t benefit from, it’s not a hateful exercise to point out your own or others’.
I don’t think anyone has asked you to apologise for owning a home. I own a home and yet I’m still very much in disagreement with most of what you say.Oops, that was a typo on my post. Should have said not bitter. I'm not it going to apologise for owning my home, I've gone without a lot and continue to do so. I feel bad for anybody that is stuck in renting.
Thats not what I said.This is a sombre but excellent read for anyone who fails to understand the relationship between property prices, rental property costs and poverty rates:
The current poverty rate is at its highest ever in the UK.
I don’t know how anyone can look at these figures and justify continuing the system as it currently stands.
I don’t think anyone has asked you to apologise for owning a home. I own a home and yet I’m still very much in disagreement with most of what you say.
Despite the typo, your post implies that people who can’t afford to be landlords might be bitter about it, which is rather ignorant of the actual issues being discussed here. Hope you read the article I’ve linked above.
I can’t fully understand what you write, sorry, but I think your argument depends on the idea that everyone who could afford to become a landlord, would? It’s an awful asset class tbh even ignoring the human exploitation & suffering, I wouldn’t touch it with a barge pole even though we could.I
Thats not what I said.
Nope, somebody mentioned about pensions and I said that my relatives that do own properties that rent out, will use that as their pension. I can just about afford my own house, I wouldn't be able to buy another just to rent out. My sisters landlord was brilliant, used to do all the DIY so that they wouldn't risk losing their deposit.I can’t fully understand what you write, sorry, but I think your argument depends on the idea that everyone who could afford to become a landlord, would? It’s an awful asset class tbh even ignoring the human exploitation & suffering, I wouldn’t touch it with a barge pole even though we could.
I thought about buying a holiday home in Ireland (we’re both second gen) that would never be rented but even that didn’t sit right due to the conditions of their housing market. Some people are capable of thinking of others.
Yep I had the same conversation with my banker who said that my current rent (which is 795€) can not be used as a proof that I could spend the same amount for a mortgage. So because I earn 30k I can only get a 105.000€ mortgage which won't even buy me a house in the countryside.Did some rough maths and worked out we’ve spent over £50k on rent the last 10 years. 50 grand spent on someone else’s mortgage, always on time, zero payments missed, with the knowledge that we can be given 2 months notice to leave at any time. And it counts for nothing when it comes to eventually getting a mortgage. It’s galling.
Fwiw my current landlord is ok, he was an accidental landlord so there have been some minor issues and our kitchen is dated and starting to get a bit thread bear, but on the whole can’t complain. I’m sure there are other decent landlords out there, but the system sucks. People are trapped renting and are exploited by those with wealth.
Shared ownership needs to be abolished. What a shit show that is.
Oh my love no no no, ex council stock is SO MUCH better made as building standards for council were so much higher back then! You’re in a brilliant solid house!I have always always always wanted to live in a new build!
Oh my god, thats exactly what my partner says about council houses! I just thought he was trying to put me off newbuilds!Oh my love no no no, ex council stock is SO MUCH better made as building standards for council were so much higher back then! You’re in a brilliant solid house!
New builds are awful, I know they look crisp and fresh but a few months in they’re grubby af, all the fittings are cheap and nasty, you pay a premium to buy them but everything needs ripping out and replacing in 2-3 years. I lived in a new build flat and the kitchen was literally disintegrating before us, despite the fact we barely cooked in it - probably 3 dinners a week?And then there’s the issue of re selling them, I’ve heard a lot of people have ended up making a loss, and then you’ve got the cladding scandal, sorry writing this out frantically like a mad woman but you couldn’t give me a new build for free tbh. I know it’s shit to live in the chaos but take the time to ~renovate~ your house and it’ll be a lot higher spec than a new build and worth a lot more too x
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