Contractor Among Contractors
Paralytic is NOT a disguised employee
I live on CUK
scooterscot is a fount of knowledge
The data is available on government website, such as ONS. Here is another source:
Buy-to-let statistics - Finder UK
From the website:
Quick overview
- In the last 12 months, 234,000 buy-to-let mortgage loans were taken out (June 2019)
- Of these loans, 169,000 were remortgages and 65,000 were used for house purchases
- Over £36 billion was borrowed on buy-to-let mortgages in the last 12 months
- Of this £36 billion, £8.7 billion was used for house purchases and £27.3 billion for remortgages
- Up to 4.5 million Brits could be living in buy-to-let properties in the UK
In England BTL stock is around 4.85 million. Therefore from above, about 5% of stock in the last 12 months was remortgaged.
So the other 95% is bought on cash? Nope. In fact the above are the well off landlords (older folks usually retired) with equity to remortgage with. A significant number of private landlords are on their old SVR home loan, the moved and rented out!! I think around 35-45%.
Have a scan of this government report - some highlights from below:
https://assets.publishing.service.go...ain_report.pdf
"Landlords who had been letting for longer were more likely to have used amortgage to fund their first rental property and more likely to currently use aBuy to Let mortgage compared to more recent landlords
Almost two thirds (63%) of those who had been a landlord for three years or lesshad used a mortgage to fund their first rental property compared to three quartersof those who had been a landlord for longer (73% of those who had been alandlord for between four and 10 years, and 75% of those a landlord for 11 ormore years).
About half (49%) of those who had been a landlord for three years or less had aBuy to Let mortgage to fund their current property/ies. This increased to 58% ofthose who had been letting for between four and 10 years, and 54% for thoseletting for 11 or more years."
In summary BTL is not what most think it is, i.e. a pension with huge expenses. Really if you follow the money, it is a credit vehicle for banks allowing them to increase their balance sheets without any real money entering the economy and the landlord taking all the risk.
"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain
My post count is Majestic
northernladuk has reached the peak. Play again?
Yawn......
'CUK forum personality of 2011 - Winner - Yes really!!!!
My post count is Majestic
vetran has reached the peak. Play again?
"If you didn't do anything that wasn't good for you it would be a very dull life. What are you gonna do? Everything that is pleasant in life is dangerous."
I want to see the hand of history on his collar.
I live on CUK
scooterscot is a fount of knowledge
But I'm not touching the market with a 2000' barge pole. There are too many people harping for a return to the way things were last year at times of plenty whilst ignoring the reality of tomorrow. Once there's soup kitchens lining Whitehall and the chaos of Brexit is understood, I may dip my toes. But not before then. You'd make the mad hatter look sensible otherwise.
"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain
Contractor Among Contractors
Paralytic is NOT a disguised employee
I live on CUK
scooterscot is a fount of knowledge
I said that about stocks 2 years ago, and aced it. Now there's blood on the streets, I'm shopping - but only technical opportunities.
"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain