Wednesday, Apr 18, 2007
Follow the money?
Firstrung: Buy to let landlords encouraged to think 'outside the box'
Now we want all first time buyers to pay close attention to the comments of Lee Grandin at Landlord Mortgages. Here Lee is (quite rightly) advising his clients to not ignore the opportunities and benefits of buying older property which could require some TLC, as opposed to buying property that can be occupied immediately with the minimum of effort...we call it building in some 'sweat equity'.
This could be a vital part of any first time buyers' 'buying strategy' if they want to build in some equitable value into their purchase...
Posted by converted lurker @ 12:20 PM (157 views) Add Comment
7 Comments
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1. Wemb said...
That's wonderful! Get all the BTL gits to bugger up the market in the US instead of the UK. They can have their fill of the trough over there, and still leave houses for people who just want to own a home here. Why didn't we think of that sooner?
2. Sam said...
but then that requires some thinking, strategy and budgeting.
isnt' there another way for me to make money without really working or doing anything?
3. dugmug said...
"but if we should experience any sort of slowdown or stagnation, landlords who decide to sell will be left with very little profit from their investment. Indeed, if the market should fall, they may even find themselves owing their lender money."
A MORTGAGE COMPANY actually talking about a slowdown, stagnation, or even a fall! Brilliant! This week is getting better and better. They must all really be scared now to be willing to admit such words even exist, and desparate to cover their own ars*s!
4. converted lurker said...
Thought you'd like that one Dug =;¬)
5. denzil said...
>>BTL landlords encouraged to think out of the box.
They've been out of their boxes for years.
6. confused76 said...
Thats great news! Mortgage lenders are crooks but they are not stupid. It is clear that lenders do not want to risk their money and want the BTL-imbecil-landlord to "sweat" in order to create an "equity cushion" to guarantee the debt principal when the market goes sour. So what Lee Grandin (MD of Landlord Mortgages) says serves the lender's interests, more than the landlord's.
Another good news is that if the market for new builds becomes cold, the price of new builds will slow down and erode market sentiment
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