Saturday, Dec 29, 2007
Advise for property owners in 2008
Telegraph: Property market: What's in store for 2008?
I'm Glad I'm not the Birmingham BTL Investor!
Posted by wdbeast @ 08:35 AM (820 views) Add Comment
11 Comments
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1. little professor said...
2. uncle tom said...
Pretty sane piece, but consider what would happen to the market if everyone followed his advice - the couple wanting to downsize would find no buyers, while the FTB would be watching - but not buying - while the BTLer desperately tried to offload..
Interesting to note that Paragon has pulled its entire product range pending the launch of new products in January. The City believes Paragon is in trouble, and it may be that they simply can't find anyone willing to loan them the cash to lend now - it would not greatly surprise me if the promised new products never materialise...
3. renting2 said...
Paragon has to find new funds (huge millions) to service the old short term borrowing that ends v shortly. And at a seviceable rate! Without it ........ .
4. jack c said...
If Paragon can’t raise the money on the wholesale markets as they normally do they stated they would go for a £280M rights issue – it will be interesting to see if (A) they need to go this route (B) They can successfully get it through.
Perhaps the Bank of Bail outs could help and set itself up with a nice residential portfolio via Northern Rock and a complimentary BTL portfolio via Paragon?
5. Cstanhope707 said...
Should read it was "Mrs Thatcher that gave me my council house for next to nothing as a gift from the Taxpayer...." But a good article in general
6. doomwatch said...
BTL investor with 10 flats in a boring home counties commuter town; you're f00ked
7. inbreda said...
If the glubberment prop up para-gone, then it is a clear case of tax payers funding speculative risk takers. I don't like my tax money being handed out with spotty teenage estate agents with tie knots the size of footballs, and BMW 4x4 driving morons who think that they are pioneers and actually deserve their wealth.
It's just plain wrong
8. dohousescrashinthewoods said...
Interesting that the Bank of Bail outs is investing our money in the worst possible assets. I'm not exactly happy about it! I'd much rather they were investing in something likely to see returns rather than stunning losses.
9. it_is_going_with_a_bang said...
LOL - What a load of ****
"Opportunity knocks... repossessions are expected to double - drawing first-time buyers to the
auction room"
How many FTB's buy property in an Auction Room??
Errr .... almost none!
The methods of payment and terms are not suitable for FTB and never have been.
It's not a car auction!!!!!
Honestly.
10. Stillrenting said...
Hi this is my first comment on thi site, i'm now addicted! None of you guys ever mention 2nd home owners, how do you think they will be affected?
11. Moonlighter said...
Birmingham isn't in the home counties, unless the home counties has undergone a
profound geographical redefinition of late (probably spawned by BTLs wanting to make
their defunkt properties more attractive sales propositions).
Neither is it a commuter town.
The BTL market here in Brum is utterly oversaturated however...