Merryn Somerset Webb

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7,282 appearances 48 recordings 1 series first heard Apr 2026 last heard yesterday

Merryn Somerset Webb’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 48 in all, peaking in Jun 2026 with 13.

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Merryn Talks Money · Is Buy-to-Let Still a Good Investment? · 23 Sep 2026 podcast

suppose my my question was that the this assumes that the byte let investor has a mortgage.

Yes.

So it's a it's a difficult comparison because you're not allowed to borrow two hundred and fifty thousand pounds to invest in well you you could if you but you can't actually borrow against uh investing in the same way.

You can't borrow to invest in the FTSE one hundred or the two fifty, etc.

So it it's very different.

I get the comparison and it's very useful, but it's it's a bit apples and oranges.

Mm.

Yeah, if you'd been able to have eighty percent leverage in the um in the S P five hundred, that would be quite something on the chart.

Yeah.

Right.

Let's look then at what changed.

So there was a lengthy period, post nineteen ninety six, when you were really, really, really accruing capital gains and you weren't that fussed about your cash flow.

Wasn't really a big deal as long as you weren't having to pay into the thing.

Nothing really mattered because you were making tens of thousands of pounds every month, uh every year in capital gains.

But then there came a point, didn't there, where things began to change when house prices stopped going up.

up so fast and the tax regime changed and suddenly cash flow began to matter.

Mm.

And how does that work?

So previously you could offset your mortgage costs against your income regardless of what your marginal income tax rate was, but the change meant that it was only a twenty percent tax credit.

So you could only do it at the lower rate.

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