Friday, Sep 19, 2008
More grit for the pan
City News: Lehman's collapse hits buy-to-let landlords
Letting agent Cluttons reports that a number of its tenants based in Belgravia and Wapping have immediately given notice on their rental properties, following redundancies resulting from the collapse of Lehman Bros. One tenant, an ex-Lehman employee, requested that his deposit should be used for his final month’s rent, as he wasn’t sure if he would be paid his salary at the end of September
Posted by paranoia blue @ 11:36 AM (964 views) Add Comment
13 Comments
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1. paul said...
Perhaps the government should organize a bailout of buy-to-let landlords - after all many of the landlords will be MPs anyway.
2. alan said...
Asking for the deposit to be used as the final month's rent is a well used method to stop greedy BtL landlords hanging on to the tennant's deposit, or making the poor tennant chase them for it.
3. mark said...
the last part of article makes no sense... why would demand still be high?
4. mark wadsworth said...
What Paul says.
5. timmy t said...
Demand is high because the volume of people no longer willing to buy is increasing (but they still need somewhere to live). No doubt we will see falling house prices outlawed to prevent this spiralling out of control...
6. harold said...
Actually, I need to nip down to the shops buy a pint of milk but have no money - perhaps the government will bail me out.
7. paul said...
Let me see your banking license, and name your figure, Harold.
8. Dr Ray said...
A lot of these BTL owners will be City types. A lot of City bonuses went on property.
Double Whammey. Nice!
9. Delboypass said...
But surely Timmy, they are already living somewhere...so hence the question...where is the demand coming form...
10. beartil2010 said...
I took a risk on some milk too - now it's gone bad
har har har
11. Chilli said...
Perhaps we should short sell milk?
12. This comment has been removed as it was found to be in breach of our Blog Policies.
13. paranoia blue said...
Should we "milk the sell" ??