Flinnyman vs the skimming machine

flynnyman said:
You getting payed for it? I am also winding down these days rather than up ;) gonna concentrate a bit more on my magnetic wall art :)
Click to expand...
Am half way through doing up a 2 bed apartment so spending time working on various jobs and at least half days on that project to sell on in autumn.
I enjoy doing various things to a good level that clients are happy to pay me for . Presently few Venetian jobs lined up , 3 bathrooms and terrace retile.
 
Ive been saving up as want to buy another house but George Osbourne has got me thinking now with bringing this 3% stamp duty in the bell end..its a scandal
 
I've been putting thought into getting another property for a pension (or something for the Mrs if I peg it beforehand) Problem is buy to let mortgage deposits are ridiculous these days and property developers work hand in glove with the estate agents round here. Doeruppers are snapped up before they're even on the market.
 
Pug said:
I've been putting thought into getting another property for a pension (or something for the Mrs if I peg it beforehand) Problem is buy to let mortgage deposits are ridiculous these days and property developers work hand in glove with the estate agents round here. Doeruppers are snapped up before they're even on the market.
Click to expand...
That's my intention ive got a buy to let at min but want a few more so there are there for retirement as got fck all pension and dnt want to be spreading at 60 cudnt think of owt worse
 
I know sumbody of 5 years ago there had 2 houses 2day there have 20..missed the fcking boat I did I think..was easy as owt to get buy to lets 5 years ago that's y George made it tougher as people were getting them for the sake of it but then realised there cudnt afford them if owt went wrong
 
  • Like
Reactions: Pug
Kitchy said:
That's my intention ive got a buy to let at min but want a few more so there are there for retirement as got fck all pension and dnt want to be spreading at 60 cudnt think of owt worse
Click to expand...
I'm the same, I've got one and trying to get a few more, but every time I start to get around enough for a deposit something comes up. Last year I did something stupid and got married, this year kids will be on the way. so could be a good 16 years till I get them on the trowel paying them 1.50 a sqm until I get that deposit!
 
PlasterCraftDundee said:
I'm the same, I've got one and trying to get a few more, but every time I start to get around enough for a deposit something comes up. Last year I did something stupid and got married, this year kids will be on the way. so could be a good 16 years till I get them on the trowel paying them 1.50 a sqm until I get that deposit!
Click to expand...
£20 a day Il pay my lad hes 11 in janauary so only a few more years then I get a nice cheap labourer making me loads of dosh lol..told him to use me as a motivation to do well at school or hes spreading s**t on walls for rest of his life
 
Pug said:
I've been putting thought into getting another property for a pension (or something for the Mrs if I peg it beforehand) Problem is buy to let mortgage deposits are ridiculous these days and property developers work hand in glove with the estate agents round here. Doeruppers are snapped up before they're even on the market.
Click to expand...
Go to "the motgage works" the will pre approve an 80% mortgage then you can buy at auction....you will have to go threw a broker though as they only deal with intemedieries.
 
Lodan said:
Go to "the motgage works" the will pre approve an 80% mortgage then you can buy at auction....you will have to go threw a broker though as they only deal with intemedieries.
Click to expand...
Mortgage works are also tightening there belts now lodan I get emails from them all the time telling me
 
When I say tightening there belts ye u will get a mortgage with 20% deposit but you will get vetted more than wat u would of a year ago..
 
Kitchy said:
When I say tightening there belts ye u will get a mortgage with 20% deposit but you will get vetted more than wat u would of a year ago..
Click to expand...
In my opinion we should be checked and vetted, will help avoid the disaster we got in last time...there used to be people getting loans to pay deposits and stuff like that and its a recipe for disaster....if a new house is within someones budget should be fine
 
Rossi46 said:
Meaning checking where the deposit came from? Earnings etc?
Click to expand...
Yeah and I think they require figures of rental potential versus mortgage amount, rent needs to be atleast 25% higher than mortgage....but if you buy well that should be pretty easy...if someones not getting 25% higher than the mortgage payment they're buying the wrong house
 
@Kitchy just re read my post and it sounded like a a bit of a dig, wasnt meant that way im just s**t at writing stuff down(y)
 
Lodan said:
Yeah and I think they require figures of rental potential versus mortgage amount, rent needs to be atleast 25% higher than mortgage....but if you buy well that should be pretty easy...if someones not getting 25% higher than the mortgage payment they're buying the wrong house
Click to expand...
Its 45% now pal
 
Lodan said:
Still easy enough, my last at auction mortgage is £287 rent is £550, although is pretty easy to get 10%yield where I am so maybe a bit spoilt
Click to expand...
Its easy where I am propertys I'm looking at rent wil be double wat the mortgage wud be
 
Kitchy said:
Its easy where I am propertys I'm looking at rent wil be double wat the mortgage wud be
Click to expand...
Yeah your leeds I think which is just a few junctions up the m1 from me....prperty is an easier game up our way than it is down south....20% deposit round here is only 10k on an auction semi
 
3% isn't gonna stop the guys with 20 or 30 properties on their portfolio. It's gonna stop the likes of us trying to sort ourselves out so we don't need to work till about 84 to get the state pension. Sums up those Tory cnuts, look after the rich and f**k over everyone else
 
Kitchy said:
Dont forget the new 3% stamp duty
Click to expand...
Yeah that was a bit mean of them....i bet the mortgage companies will find away you can add it to your mortgage...will mean a house is 61800 instead of 60000...dont know if theyre allowed to do that but wouldnt surprise me
 
PlasterCraftDundee said:
3% isn't gonna stop the guys with 20 or 30 properties on their portfolio. It's gonna stop the likes of us trying to sort ourselves out so we don't need to work till about 84 to get the state pension. Sums up those Tory cnuts, look after the rich and f**k over everyone else
Click to expand...
buy to let mortgages is a lot of what contibuted to the crisis in 2007, looking at the bigger picture and adding additional charges and restrictions to stop another bubble is a good long term plan....when times are good silly people over extend themselves with no thought of the consequences
 
Lodan said:
buy to let mortgages is a lot of what contibuted to the crisis in 2007, looking at the bigger picture and adding additional charges and restrictions to stop another bubble is a good long term plan....when times are good silly people over extend themselves with no thought of the consequences
Click to expand...
The banks were giving it to anyone with no thought, it's just made it more easier for the man with a lot of money.
 
Lodan said:
buy to let mortgages is a lot of what contibuted to the crisis in 2007, looking at the bigger picture and adding additional charges and restrictions to stop another bubble is a good long term plan....when times are good silly people over extend themselves with no thought of the consequences
Click to expand...
I also agree everyone jumped on it who couldn't possibly afford it and never thought it would fail, I suppose if you can afford to sit on it your always laughing.
 
Lodan said:
Yeah your leeds I think which is just a few junctions up the m1 from me....prperty is an easier game up our way than it is down south....20% deposit round here is only 10k on an auction semi
Click to expand...
20% in Wigan and St. Helens can be as low as £6k!
 
Lodan said:
Yeah that was a bit mean of them....i bet the mortgage companies will find away you can add it to your mortgage...will mean a house is 61800 instead of 60000...dont know if theyre allowed to do that but wouldnt surprise me
Click to expand...
Can't get a shed around my way for 60k let alone a whole house. Mad, barking mad

Sent from my Nexus 6P using Tapatalk
 
It's madness really. Two houses the same size and the same size plot north and south can be tens if not hundreds of thousands different! WTF!
 
Rossi46 said:
It's madness really. Two houses the same size and the same size plot north and south can be tens if not hundreds of thousands different! WTF!
Click to expand...
Yeah the variation in house prices is bonkers when you think about it.
 
Rossi46 said:
It's madness really. Two houses the same size and the same size plot north and south can be tens if not hundreds of thousands different! WTF!
Click to expand...
I will never understand why people want to move to London and pay 300k+ for a one bedroom flat. you could get a great 5 bed 3 bathroom house here for that
 
You must log in or register to reply here.

Share this page

Back
Top