Wednesday, Jun 18, 2008
BTL is the UK subprime
FT: BTL landlords are touching the 'void'
"More than 50 per cent of landlords admitted having experienced a "void" time when their property did not generate rent. As a result of these voids, 17 per cent of landlords missed a mortgage payment in the past 12 months – up from 9 per cent in quarter four 2007 and the highest level since the research began. still significant demand for the rental sector with people coming off fixed-rate mortgage deals and others selling their property portfolios amid credit uncertainty" Run for cover... Loads of contraddictions!
Posted by confused76 @ 08:52 AM (741 views) Add Comment
8 Comments
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1. Ah-so said...
"Six per cent of landlords said they had already bought a repossessed property and a further 65 per cent said they were interested in buying one."
BTL is a debt-based business - purchases must be financed through borrowing. So how are BTL landlords proposing to borow to fund further purchases without enormous deposits?
2. inbreda said...
"BTL landlords are touching the 'void'"
touching cloth more like.
3. Davros said...
The Bradford and Bingley share price reflects the future of buy to let.
4. sold out said...
Inbreda@2
You beat me to it "touching Cloth".Classic LOL
5. This comment has been removed as it was found to be in breach of our Blog Policies.
6. str 2007 said...
The sentence 17% of landlords missed a payment because of a void.
If they're running that close to the edge then there will be serious trouble ahead.
As the business is based on managing debt, a bad credit rating marks the beginning of the end.
7. debtfree said...
Yep, beat a few of us to it.
So to add on..... I bet landlords are finding it hard to keep the turtles head under reigns.
:o)
8. Still-waiting said...
inbreda - look up 'touching the void' in the viz online profanisaurus.Seems someone at the FT has a sense of humour!