That’s my point. Go ahead and get a mortgage from the bank. You’ll need a deposit of course and a decent credit rating and income or they reasonably won’t trust you with their money. If you don’t have those things, well, that’s why we need landlords - someone to put money up and take the risk on your behalf.
Lnadlords increase competition for the property making it more expensive.
Someone putting an offer on a property might be just fine getting a mortgage for that amount, but not for the amount needed if 5 different landlords are trying to outbid them so they can rent the property to them.
That’s a very marginal effect - and really only in a sellers market. Right now in most places, there are many properties sitting on the market that anyone could put in a reasonable offer and get.
That’s my point. Go ahead and get a mortgage from the bank. You’ll need a deposit of course and a decent credit rating and income or they reasonably won’t trust you with their money. If you don’t have those things, well, that’s why we need landlords - someone to put money up and take the risk on your behalf.
Lnadlords increase competition for the property making it more expensive.
Someone putting an offer on a property might be just fine getting a mortgage for that amount, but not for the amount needed if 5 different landlords are trying to outbid them so they can rent the property to them.
That’s a very marginal effect - and really only in a sellers market. Right now in most places, there are many properties sitting on the market that anyone could put in a reasonable offer and get.
The fewer people making those offers the more those prices will come down.
Increase taxes on secondary properties and people will be more motivated to lower the price in order to sell.