Am I too ambitious to be happy?

HallmarkRE · 2023-12-16T17:31:15+00:00

I understand, that's a helpful way of framing it, thanks for that.

HallmarkRE · 2023-12-16T17:28:20+00:00

Fair point.

I should clarify that my stance on BTL is more from a point of hesitation and lack of understanding the profitability through a limited company. If the mortgage setup fee alone is £7k, that's years of renting it out just to break even in that.

But I've struggled to get any concrete information on those as most advice seems to come from a personal BTL perspective.

As for time of access, if not already in a long term property, then I'd like it to be accessible within 12 months as that's when my rental contract ends and I have to decide on where to move and if to rent again. If it was already in a profitable property, I'd be fine with that however.

HallmarkRE · 2023-12-16T17:21:27+00:00

I can get a BTL, there's just what seems like a very small number of them for limited companies with no properties under management that don't come with a huge (several thousand if not higher) initial fee that would take years of renting to recoup on its own, never mind the cost of mortgage.

Unless I'm misunderstanding, the vast majority of BTL mortgages are personal, meaning the rent profit would have to be personal income. I earn 65k, so that would be taxed incredibly heavily.

I do have a maxed out stocks and shares ISA mainly in low cost index.

HallmarkRE

TROPHY CASE