Good time to buy

[jon9000]

Keeping it short, thinking about buying a buy to let property, waiting to see what's in the budget but the 5% deposit mortgage and government backed thats rumoured seems good, I will be classed as a first time buyer as have never bought a house before, as my house belongs to the business. So does the tff collective think it's a good time to buy ? Money's cheap to borrow and not really wanting to put stuff in a pension that could be worthless by the time I retire !

I'd wait unless your buying in a city centre where flats are cheap, the minute interest rates go up and everyone has forgotten covid prices will come down

 

[Highland Mule]

No, and that's the whole false emergency fund nonsense. You are leaving money to rot. Better have a credit line should an emergency happen. I have a credit card I never use and its really just for when my debit card fails for some random reason and I need to fill up the truck to get home etc. Costs me nothing and the cash is better invested elsewhere.

Agreed, although I like to keep a few £k on ready availability for unforeseen issues.

So what do I do with my company’s money if it’s not going into my pension?

 

[Tarw Coch]

I'd wait unless your buying in a city centre where flats are cheap, the minute interest rates go up and everyone has forgotten covid prices will come down

Interest rates have been around about bugger all for several years now, what makes you think they’ll rise any time soon

 

[jon9000]

Inflation

 

[Rowland]

Keeping it short, thinking about buying a buy to let property, waiting to see what's in the budget but the 5% deposit mortgage and government backed thats rumoured seems good, I will be classed as a first time buyer as have never bought a house before, as my house belongs to the business. So does the tff collective think it's a good time to buy ? Money's cheap to borrow and not really wanting to put stuff in a pension that could be worthless by the time I retire !

Not a bad idea on the whole. As for being a 1st time buyer you probably are but if you are going to rent it out you will possibly need permission to let from your mortgage company or a buy to let mortgage . There’s some good deals on buy to let’s at the moment.
Don’t go for the bottom end of the market houses the tenants that will get will be ok on the whole but a few will walk away owing 3 months rent and there’s little point in pursuing them as they have nowt to start with.
Bit more work do room share depending on your area you can get £400-500 a month per room larger houses need HMO license same as with students (no council tax for students)
You can turn dining/sitting rooms in to bedrooms as long as you have a decent communal area and bathrooms
Recently I looked a decent houses to rent around me and 3/4 bedroom houses go for 700-1000 per month.

 

[Rowland]

Interest rates have been around about bugger all for several years now, what makes you think they’ll rise any time soon

Can’t see them going up in the next few years personally. There’s some good fixed rates for 5-10 years at the moment

 

[Highland Mule]

Keeping it short, thinking about buying a buy to let property, waiting to see what's in the budget but the 5% deposit mortgage and government backed thats rumoured seems good, I will be classed as a first time buyer as have never bought a house before, as my house belongs to the business. So does the tff collective think it's a good time to buy ? Money's cheap to borrow and not really wanting to put stuff in a pension that could be worthless by the time I retire !

Best way to deal with a non paying tenant in rented farmhouse

Anyone have any solutions or had the experience of a non paying tenant in a rented out farm house? Circa £5k owed now. Still in house

thefarmingforum.co.uk

 

[Pasty]

Agreed, although I like to keep a few £k on ready availability for unforeseen issues.

So what do I do with my company’s money if it’s not going into my pension?

Bitcoin?

 

[will l]

Interest rates have been around about bugger all for several years now, what makes you think they’ll rise any time soon

likely start printing money

 

[Pasty]

likely start printing money

They won't keep up with it.

 

[Highland Mule]

Bitcoin?

That’s just a choice of investment, not the route it’s done. I can do that either through a pension (with no tax now and likely none ever) or direct (but with 30-40% tax up front). Which would you do? I can see no need for the money this side of my retirement age.

That’s why I’m investing in my pension.

 

[Pasty]

That’s just a choice of investment, not the route it’s done. I can do that either through a pension (with no tax now and likely none ever) or direct (but with 30-40% tax up front). Which would you do? I can see no need for the money this side of my retirement age.

That’s why I’m investing in my pension.

Rishi can't see it so he can't get it.

 

[Highland Mule]

Rishi can't see it so he can't get it.

He’d have 30-40% of it before I had any !