2buyornot2buy

Maybe it's an NI thing but I've yet to meet a single "small" landlord who completes a tax return. I've talked to many and I can tell from the answers from some basic probing, the majority don't have a clue about the "new" tax arrangements for BTL. The majority don't even know you can't offset capital payments.

Hello... HELLO... Its 2008 Northern Ireland calling... we want out property gains back...

Why the %!%# would you tell me that 😆. Holidays, I never thought it would be so hard to press the pay button on flights when you see the 2 year old costing full price.

We're the same. I assumed they all are. I remember visiting a creche and asking about holidays. The manager said "oh we rarely close. Just for Easter, st Partick's, bank Holidays, the 12th and 2 weeks at Christmas." I said so for like 4 weeks... effectively its 10% more expensive than they tell you. Add in the child sick days and it's closer to 15%.

Just for the summer. Before that it was 2 x 9-5 and 1 x 1-5. The difference between full and half days is about 300 I think.

Yep, full-time is about £1080 each. Half days aren't even that much cheaper. Add in the summer stuff, swimming, sports, music etc etc etc. It's probably close to 4k. Don't get child benefit. Don't get tax-free childcare. They are very very expensive. That's 70k gross.

My childcare is over 3k. It's serious money. I agree, it's how long they (government) can avoid it.

The three D's. Death, Divorce and Debt. You'll have all three in an recession with spiraling energy costs.

450k is massive amount of money in the sticks. In Belfast you're competing against multiple others, who at the moment are willing to borrow big.

I think we're talking about Co.Derry here, I'm not sure much of tech jobs (relatively few of them really) are making it to Magherafelt. Interest rates will sort the older people. Remember as prices rise, rental yield falls. They can get 3.5% absolutely risk free in the bank, why would they go BTL for 4.5% net. There's lots of factors at play here. Some having more of an impact than others but supply seems to be the biggest factor.

Back to <10k transactions a year?

It's all relative. The debt is relative. Inflation will be affecting those on smaller salaries much more but interest rate rises and reducing valuations will eventually affect those with large mortgages looking to remortgage. They're all going to feel the pain I think.

This is outside the city Joe. I was originally in BT9 on one of the streets off the Malone road but sold up a while ago. The house was POA but the asking price was 900k. The offer on it is 650k. I'll not be too specific, one thing I've learned is Belfast and NI are very small places.

I've heard Magherafelt is crazy.

A few weeks ago I went to view a house the OH wanted to have a nosey at. We're in the middle of a big renovation and have no intention of moving but they wanted a look about. An impressive house, lots of money spent on it. 6 months ago I'd have expected it to go for asking or over very quickly. 3 nearly 4 weeks later, the only offer on the place is 25% under asking and it's still sitting. It's a strange market here in NI.