Radio 4 You and Yours BTL Landlords selling up

[BorrowToLeech]

1 hour ago, spyguy said:

Theyll love it more if the slumlord is over 50, works i n the public sector or BBC, and feels he's been missold by the banks...

'Now Mr SLumlord. I beleive you were tricked into buying 100 house by the bank'

'Yes, I said to my wife that  was just nipping out for some sugar . When I returned, 4 hours later, I owned 100 flats, all crammed with Polish workers.'

 

It should be renamed 'me and mine, ****** you'.

Radio 4 consumer finance is dreadful, but is it the worst thing on radio 4?  Hard to say.

'In the Archers, Jilly confronts Fig over top field, while an anti poll-tax protest marches through the village for some reason.

Then, as part of our 'Men are shit' series, Indian author Bavinderjit Das reads from her book 'Tears of the Mango tree', a semi-autobiographical account of depressing middle-class nonsense set against the turbulent backdrop of 1970s Delhi.  

At 9, Giles Tory, Cecily Ponce, and the ghost of a cricket person from the 60s will be guests on 'Puzzle me up', where verbing nouns and nouning adjectives, is all part of the fun.

Then comedian Jos Bench opens another page of 'Jos Bench's Novelty Book'. This weeks novelties include Snapchat, selfies and sexism. 

Finally, before the close, a book at bed time-features Indian author Davinderjit Bas reading from his book 'A pomegranate for your tears', a semi-autobiographical account of depressing middle-class nonsense set against the backdrop of 1960s Calcutta'. 

What the ****** kind of a radio station makes me actually think 'oh Gyles Brandreth, this might be bareable then'. 

Edited November 18, 2017 by DrBuyToLeech

[Ah-so]

5 minutes ago, spyguy said:

I see you're new to You +Yours and Moneybox ...

 

I have a job so miss the delights of You and Yours. I occasionally listen to Moneybox but find it painful whenever BTL is discussed. The phrase "little Billy bonus" still haunts me. 

 

 

[Bland Unsight]

1 hour ago, Ah-so said:

Sounds like an unbalanced piece. Grounds for a complaint perhaps. 

I took a complaint to Ofcom on an earlier much more unbalanced piece (3 March)

Quote

Description:

The programme describes itself as “News and discussion of consumer affairs”. A report on the impact of the tax change failed to achieve due accuracy. It was wrong about who was likely to be impacted (with regard to both tenants and landlords) and wrong about the ability of landlords to mitigate the impact of the tax. 
The opinions of an active lobbyist were set forth by a vulnerable individual that the lobbyist is in a position to mislead and coerce. Listeners were not made aware of possibility that the contributor may have been manipulated even though programme makes were aware of all the facts that rendered coercion a possibility. 
The only guest that listeners might have taken as an expert capable of providing news was later characterised by the programme makers as inherently lacking impartiality, stating that his opposition to Section 24 was “very clear and no listener would have regarded him as a neutral expert”. 
There are a great many other factual inaccuracies in the programme. 
Approximately one home in ten is financed by a buy-to-let mortgage and the stock of buy-to-let mortgages is about 20% of the entire mortgage stock, amounting to loans from UK mortgage lenders of about £225bn. Consequently, taxation of buy-to-let investments is a significant public policy matter and the bar for due accuracy and impartiality in a flagship consumer affairs news programme is correspondingly high.

Reason for dissatisfaction with the outcome of the BBC's final response:

David Whittaker is introduced on the programme as being “from Mortgages for Business” and is described by the BBC in their Stage 1b response as “an expert in mortgages”. None of his views are challenged by the presenter (Peter White) and no other guest is present to offer an alternative (and factually correct) view to offset Mr Whittaker’s looser relationship with due accuracy. The BBC Executive Complaints Unit state that it was “clear” that Mr Whittaker “opposed the Section 24 changes” and thus it was “reasonable to assume listeners would judge his comments in that context, rather than assuming he was stating incontrovertible facts”. The idea one tunes in to You and Yours to hear falsehoods strikes me as an extremely dubious claim.
 

Getting to Ofcom for a complaint like this requires going through the entire BBC complaints process. I took the option of getting the complaint mapped out in detail at the start and sticking it on a google drive so I could include it at all stages of the complaint without being troubled by their word limits; here's the complaint itself.

This was Ofcom's decision (it's just an excerpt a longer letter explaining why they did not feel the complaint merited an investigation).

Quote

In the context of this item, we did not consider that the due impartiality rules in Section Five were engaged in this case because the programme was not dealing with a matter of political controversy or a matter relating to current public policy. Therefore, we did not consider it was necessary for contrary views to those expressed in the item to have been included. Nor did we consider that it was necessary for Mr Whitaker’s views to have been challenged, as you appear to suggest.

If anybody is counting that means that we've had PovertyLater's posters represented on  You and Yours three times this year: 21 November 2016 (James Fraser), 3 March 2017 (James Fraser's tenant as good as reading James Fraser's submission to the Finance (No.2) Act 2015 bill committee), and the piece discussed here. On only one occasion was the relationship between the lobby group and the guest - which must be known to the editorial team - disclosed to listeners hence the later representation has been somewhat clandestine.

On only one of those occasions was there an opposing voice (21 November 2016, Henry Pryor).

I don't think that the Ofcom position that we are "not dealing with a matter of political controversy or a matter relating to current public policy" will really hold up and the accumulation of editorial choices by You and Yours strengthens a fresh complaint on grounds of due impartiality.

Edited November 18, 2017 by Beary McBearface

[Ah-so]

54 minutes ago, DrBuyToLeech said:

Well it isn't.

Not anymore anyway, the landlords have seen to that.  

Thanks to them, the typical first time buyer property will soon be a grave. 

That gives me a business idea - the BTL grave - those who can't afford their own hole in the ground can rent one from a grave owner while they save up for a hole of their own. 

From what I hear, the newly dead these days all want the best holes as soon as they are dead and are not prepared to save up, and waste their money on nice coffins and gravestones. 

Edited November 18, 2017 by Ah-so

[Ash4781]

1 hour ago, hp72 said:

New mortgage lender wants me to sell my BTL

http://forums.moneysavingexpert.com/showthread.php?t=5745187

Was this the financing model of choice ?  Still wants to stick it out though. The madness of BTL. 

[BorrowToLeech]

9 minutes ago, Ah-so said:

That gives me a business idea - the BTL grave - those who can't afford their own hole in the ground can rent one from a grave owner while they save up for a hole of their own. 

From what I hear, the newly dead these days all want the best holes as soon as they are dead and are not prepared to save up, and waste their money on nice coffins and gravestones. 

Next up on moneybox, we look at the tax implications of graverobbing.

Edited November 18, 2017 by DrBuyToLeech

[guest_northshore]

9 minutes ago, Ah-so said:

That gives me a business idea - the BTL grave - those who can't afford their own hole in the ground can rent one from a grave owner while they save up for a hole of their own. 

From what I hear, the newly dead these days all want the best holes as soon as they are dead and are not prepared to save up, and waste their money on nice coffins and gravestones. 

http://www.dailymail.co.uk/news/article-2058671/Thousands-corpses-face-eviction-Spanish-cemetery-relatives-fail-pay-rent-plots.html

Mostly leases here too.

[disenfranchised]

25 minutes ago, DrBuyToLeech said:

Then, as part of our 'Men are shit' series, Indian author Bavinderjit Das reads from her book 'Tears of the Mango tree', a semi-autobiographical account of depressing middle-class nonsense set against the turbulent backdrop of 1970s Delhi.  

At 9, Giles Tory, Cecily Ponce, and the ghost of a cricket person from the 60s will be guests on 'Puzzle me up', where verbing nouns and nouning adjectives, is all part of the fun.

Savage, but on point!

[Ah-so]

13 minutes ago, Beary McBearface said:

I took a complaint to Ofcom on an earlier much more unbalanced piece (3 March)

Getting to Ofcom for a complaint like this requires going through the entire BBC complaints process. I took the option of getting the complaint mapped out in detail at the start and sticking it on a google drive so I could include it at all stages of the complaint without being troubled by their word limits; here's the complaint itself.

This was Ofcom's decision (it's just an excerpt a longer letter explaining why they did not feel the complaint merited an investigation).

If anybody is counting that means that we've had PovertyLater's posters represented on  You and Yours three times this year: 21 November 2016 (James Fraser), 3 March 2017 (James Fraser's tenant as good as reading James Fraser's submission to the Finance (No.2) Act 2015 bill committee), and the piece discussed here. On only one occasion was the relationship between the lobby group and the guest - which must be known to the editorial team - disclosed to listeners hence the later representation has been somewhat clandestine.

On only one of those occasions was there an opposing voice (21 November 2016, Henry Pryor).

I don't think that the Ofcom position that we are "not dealing with a matter of political controversy or a matter relating to current public policy" will really hold up and the accumulation of editorial choices by You and Yours strengthens a fresh complaint on grounds of due impartiality.

The BBC clearly need the occasional reminder of their need to be impartial on BTL. Radio 4 is a very influential station, or rather, influential people listen to it, so it is important not to be unbalanced. 

A thing that does annoy me is how things are determined to be controversial or not. A complaint, however valid, can be dismissed if a reviewer arbitrarily deems it not to be a controversial topic. 

[Fence]

30 minutes ago, DrBuyToLeech said:

It should be renamed 'me and mine, ****** you'.

Radio 4 ....... 

Nice work thanks.☺️

Should call it radio India.  Been like that for a while.

Been BBC free for two months now.  Feels like when I gave up smoking - fresh air, tasty food, etc.

Watched a bit of live TV this morning at someone's house.  Painfull.  Wondered where you had to put the coal!

BBC news on the car radio now.  Sounds like the ministry of information and reminds me of "Good Morning Vietnam"!

Edited November 18, 2017 by Fence

[mrtickle]

2 hours ago, hp72 said:

New mortgage lender wants me to sell my BTL

http://forums.moneysavingexpert.com/showthread.php?t=5745187

Excellent, and yes it's the PRA rules.

So this brilliant idea from G_M might not work: 

Quote

• 16th Nov 17, 8:31 PM
•  

I'm going to assume you don't want to sell the BTL - otherwise why the query?

“

I am looking to purchase a new property to live in, and the lender that I have gone with (BOS) has approved my mortgage on the condition that I sell the BTL that I have with them.

Originally posted by rentmekid”

Why would you go with a lender who imposes a condition you are not happy with? Go with a different lender!

•  

 

[Ah-so]

7 minutes ago, mrtickle said:

Excellent, and yes it's the PRA rules.

So this brilliant idea from G_M might not work: 

 

The collective BTL geniuses on MSE don't even have a basic understanding of why he was rejected. 

[Bland Unsight]

2 hours ago, hp72 said:

New mortgage lender wants me to sell my BTL

http://forums.moneysavingexpert.com/showthread.php?t=5745187

A really interesting spot. Probably deserved its own thread. Nice work.

[mrtickle]

2 minutes ago, Ah-so said:

The collective BTL geniuses on MSE don't even have a basic understanding of why he was rejected. 

Indeed. Anyway as he says, he doesn't have enough equity to re-mortgage - so sadly that thread can't be the one to educate the geniuses that all lenders now have the same stricter rules, and have had for a few months while they've all been asleep.

But, he's still screwed so I'll assume (and hoping) there will be most posts on that thread giving updates to come...

 

[Bland Unsight]

3 minutes ago, Ah-so said:

The collective BTL geniuses on MSE don't even have a basic understanding of why he was rejected. 

They "understand property", not lending. 

[stormymonday_2011]

48 minutes ago, DrBuyToLeech said:

It should be renamed 'me and mine, ****** you'.

Radio 4 consumer finance is dreadful, but is it the worst thing on radio 4?  Hard to say.

'In the Archers, Jilly confront's Fig over top field, while an anti poll-tax protest marches through the village for some reason.

Then, as part of our 'Men are shit' series, Indian author Bavinderjit Das reads from her book 'Tears of the Mango tree', a semi-autobiographical account of depressing middle-class nonsense set against the turbulent backdrop of 1970s Delhi.  

At 9, Giles Tory, Cecily Ponce, and the ghost of a cricket person from the 60s will be guests on 'Puzzle me up', where verbing nouns and nouning adjectives, is all part of the fun.

Then comedian Jos Bench opens another page of 'Jos Bench's Novelty Book'. This weeks novelties include Snapchat, selfies and sexism. 

Finally, before the close, a book at bed time-features Indian author Davinderjit Bas reading from his book 'A pomegranate for your tears', a semi-autobiographical account of depressing middle-class nonsense set against the backdrop of 1960s Calcutta'. 

What the ****** kind of a radio station makes me actually think 'oh Gyles Brandreth, this might be bareable then'. 

Not a fan then?

[BorrowToLeech]

2 minutes ago, stormymonday_2011 said:

Not a fan then?

Not a fan

[mrtickle]

2 minutes ago, stormymonday_2011 said:

Not a fan then?

I want to hear an episode of "Puzzle Me Up". Sounds fun, but it's been done before on TV (yes, this is true: Never Mind The Full Stops did exist!)

 

 

[Trump Invective]

1 hour ago, DrBuyToLeech said:

It should be renamed 'me and mine, ****** you'.

Radio 4 consumer finance is dreadful, but is it the worst thing on radio 4?  Hard to say.

'In the Archers, Jilly confronts Fig over top field, while an anti poll-tax protest marches through the village for some reason.

Then, as part of our 'Men are shit' series, Indian author Bavinderjit Das reads from her book 'Tears of the Mango tree', a semi-autobiographical account of depressing middle-class nonsense set against the turbulent backdrop of 1970s Delhi.  

At 9, Giles Tory, Cecily Ponce, and the ghost of a cricket person from the 60s will be guests on 'Puzzle me up', where verbing nouns and nouning adjectives, is all part of the fun.

Then comedian Jos Bench opens another page of 'Jos Bench's Novelty Book'. This weeks novelties include Snapchat, selfies and sexism. 

Finally, before the close, a book at bed time-features Indian author Davinderjit Bas reading from his book 'A pomegranate for your tears', a semi-autobiographical account of depressing middle-class nonsense set against the backdrop of 1960s Calcutta'. 

What the ****** kind of a radio station makes me actually think 'oh Gyles Brandreth, this might be bareable then'. 

Love it. I still listen occasionally though what's wrong with me!? Though I have to switch off for gardeners Qt or farming today

[TheCountOfNowhere]

On 16/11/2017 at 12:32 PM, juvenal said:

EDIT: Topic came on at 12.37.  A landlord on there thinking of selling a large portfolio. Not enough profit left in it. Seems many BTL landlords are now selling up. Well worth a listen. 

Selling up...to whom?

 

Trying to sell more like

[MonkeyPuzzle]

Greedy BTL LL with a glorious Croydon kingdom of IO mortgaged tower block flats filled with benefit claimants — a friend-of-friend — has been in the cold sweats for ten months now. This week he attended a local ‘networking presentation’ for beginners and wanna-be entrants to the wonderful world of BTL and liars loans. Why? When he’s been in the biz 20 years? So that he can try to offload his rubbish portfolio on someone stupid enough to attend such a presentation. He just can’t get shod of them otherwise.

[hp72]

Poor landlord looking for exemption for stamp duty

Stamp duty dispensation

http://forums.moneysavingexpert.com/showthread.php?t=5745404

Myself and my wife are looking to buy a home together for about 220000. My wife had a terraced house she sold earlier this year, I have a flat I bought 9 years ago which is rented out. We currently live in rented accommodation.

My flat was a studio one bed flat for one person, a Redrow debut one, whereby I had a mortgage for 90% and Redrow gave an interest free loan for the rest due to be paid after 10 years. The ten years is up next June. The flat isn't big enough for me, my wife and baby to live in. 

We're trying to sell the flat but have had no interest thus far. Our financial advisor has said if we can't sell then we will have to pay stamp duty on the home we intend to buy. We know we'll get that back if we sell the flat not long after but is there any other way around this as we can't find the funds to pay both Redrow back the loan and the stamp duty. 

 

 oh and it seems that there's no way he would be able to reclaim the 3% extra stamp duty

Edited November 18, 2017 by hp72
Add my synopsis

[hp72]

2 minutes ago, hp72 said:

Duplicate posting error

[spyguy]

2 hours ago, MonkeyPuzzle said:

Greedy BTL LL with a glorious Croydon kingdom of IO mortgaged tower block flats filled with benefit claimants — a friend-of-friend — has been in the cold sweats for ten months now. This week he attended a local ‘networking presentation’ for beginners and wanna-be entrants to the wonderful world of BTL and liars loans. Why? When he’s been in the biz 20 years? So that he can try to offload his rubbish portfolio on someone stupid enough to attend such a presentation. He just can’t get shod of them otherwise.

Ah property networking....

Ive managed to get on the email list of an agressive, expanding one man driven law company. He calls himself a legal entrepeneur. My secratries hubby sells stationary, he tells me that when they bid for his paper contract, bloke was after  a kick back - a penny grasping idiot.

Now, im very suspicious of law companys - i know of a couple of people caught up in the demise of hellawells. Then theres quindell/sandg. 

Anyhow, back to chain email. He was pitch a property networking event. Pitch started, Like me, many of you are property investors.....

Now its easy for a person to be a share investors - most shares sell for a few pounds. To be a property investor you need a lot of cash. Or to be leveraged.

A solicitor cannot practise if they are bankrupt.

No way would i do any business with this fcktard. Lawyers should stick yo law ffs.

[eric pebble]

2 hours ago, MonkeyPuzzle said:

Greedy BTL LL with a glorious Croydon kingdom of IO mortgaged tower block flats filled with benefit claimants — a friend-of-friend — has been in the cold sweats for ten months now. This week he attended a local ‘networking presentation’ for beginners and wanna-be entrants to the wonderful world of BTL and liars loans. Why? When he’s been in the biz 20 years? So that he can try to offload his rubbish portfolio on someone stupid enough to attend such a presentation. He just can’t get shod of them otherwise.

"...wanna-be entrants to the wonderful world of BTL and liars loans"