Monday, Sep 29, 2008
Buy To Losers dealt another blow....but what about the future of their sitting tenants?
Citywire: The death blow for buy-to-let?
......One thing is clear though. Even if the taxpayer is protected under the plan, the buy-to-let market is not. Bradford & Bingley was the industry's largest buy to let and self cert lender. With its collapse it is hard to imagine any other lenders wanting to get into this market.
Posted by whostolemyendowment @ 11:01 AM (245 views) Add Comment
3 Comments
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1. hash browne said...
Looks likes the first big batch of forced sales is on its way! Unfortunately, they're probably all poxy city-centre flats.
In my area, I'm seeing quite decent price drops drops at the bottom end of the market probably due to the over-supply of these poxy flats, but the guys in the middle, in the 'average' houses, are being extremely stubborn and won't seem to budge on price.
I can't help wondering if they ever will, or whether they'll just "sight tight".
2. Panda said...
This may or may not be relevant.
I know four recruitment agents who work in the high to upper end of electronic engineering, and they told me last week the following; engineers and professionals who can are moving out of the UK. The preferred destiination is Europe, though many are moving to the Middle East. The place is being cleared out and they are very worried about being able to fill positions in the UK. It is getting really bad for them from the point of view of being seen to be able to offer reasonable portfolios of candidates and they are now getting frantic.
This broke down palace is emptying out.
3. hash browne said...
@1 - oops.... should be "SIT tight".