Is It Still Safe

[sohail]

HI:

just read on msn news that there is no profit in buy to let properties in the uk. i was decideing in buying to let but after reading this is there still profit in there. and how much, if there is any one out there who can advice me.


thanks.

[HAPPY]

I personally think that the buy to let has had its day. Now that this new policy of the housing benefits being paid directly to the tenants is coming more widely used, I think most people, like my friends, are going to stop renting to DHSS. The Housing Benefit Office say that they will only pay direct to the landlord if the tenant is more than 2 months in arrears, well with my friends that was 7 months ago. Even though the tenants have pocketed all the money and trashed the place as landlords they will still have to take them to court to evict them.

I think this new policy will lead to a lot of landlords selling up as they will have a lot of competition all trying to get good working tenants.

[awahee123]

There certainly isn't much to write about the buy to let market in the uk at this moment in time, you would be lucky to cover your mortgage payments unless you had a large sum to invest initially.
Then you also have the trouble of maintenance,insurance and troublesome tenants.
A lot of new rules and regulations for Landlords covering mostly safety aspects.
For now it's certainly best left alone.