Sunday, Apr 20, 2008
You're saved BMV is here
guardian.co.uk: It's always sunshine and profits at the property show
House prices are falling at their fastest rate for years, chartered surveyors are downbeat about the future, and overseas, property values are tumbling in one-time investment hot spots such as Spain and Florida.
But buy-to-let landlords and holiday home purchasers had a chance to forget the gloom last weekend at the Property Investor Show. In the permanent artificial lighting of Birmingham's NEC, the few visitors who turned up were told it was perpetual property sunlight - in Liverpool, Derby, Barnsley and Scunthorpe, as well as more exotic locations such as Malaysia, Mongolia and Peru.
The secret of no-money-down loans lies in three little letters: BMV.
Could be a BTL Revival. Is it about to happen all over again?
Posted by plato @ 07:55 PM (749 views) Add Comment
9 Comments
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1. mark wadsworth said...
The Property Investor Show? Now they really are taking the PIS!
2. quiet guy said...
Thanks for the laugh plato.
'A £300,000 flat in Nottingham recently went under the hammer for under £100,000.'
OMG!!!
but later on the in article:
'But optimism reigns eternal. Isle of Man-based developer Dandara says: "Property investment has become one of the fastest growing sectors in the UK. With average annual returns of 40% per annum [sic] it's easy to see why so many people choose UK property as a secure way to diversify their investment portfolio."'
3. plato said...
quiet guy @2
Didn't know whether to laugh or be sick and just about managed to force myself to read this garbage. The devious ingenuity of falling prices giving birth the concept of this BMV strategy is unbelievable pure criminal bahaviour.
4. crash bandicoot said...
How many times do you have to say that you are comitting fraud before the police show any interest?
5. malct said...
funny? I don't think so
fraud, police, banks, I don't think so
should be but . . .
6. malct said...
4. crash bandicoot said...
How many times do you have to say that you are comitting fraud before the police show any interest?
Sunday, April 20, 2008 09:09PM
Once if you are a real person
trillions if you are a w@nk - oops b@nk
7. last_days_of_disco said...
Only idiots will catch this falling knife and its desperate, no one pitched at the show anyway.
8. it_is_going_with_a_bang said...
BMV = Mortgage Fraud
Pure and simple. The technical aspects of how they try to get around it are surely meaningless.
Giving someone's solicitor a % of the purchase price and then taking it back - probably the same day - is just fraud.
And ...
Lose £8,600 a year on a good year?????!!!!!
OMG. Thats all I can say. If anyone is Stupid enough to buy that they deserve what's coming to them.
Thinning of the herd.
9. Flash said...
When reading this article, I had to keep reminding myself it was serious and not a joke. Still, it's one to print off and keep, to remind us of the utter madness (and fraud) that prevailed at the top of the market.
And fraud it is too. Most of us (through our pension funds) are bank shareholders. This fraud is being perpetrated on all of us.