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LondonToManchester

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Posts posted by LondonToManchester

  1. http://news.bbc.co.uk/1/hi/business/8037347.stm

    Mortgage lenders have started to relax slightly the requirements they need for granting a home loan, figures indicate.

    Two-thirds of mortgage deals still require borrowers to put down a deposit of at least 25%.

    But figures from the financial information service Moneyfacts show a recent rise in the number of deals demanding smaller down-payments.

    The total number of mortgage deals has risen by 7% in the past month, with more needing only a 15% or 20% deposit.

    More signs we are close to the bottom!

  2. Hey i'm a landlord i wish i could get rid of the agents the only reason i use them for is to find tenents and do all the checkin stuff i.e AST, Checks and invantry for which they charge me £500 :(

    In all honesty places that are advertised through agents do rent out quicker thats why we use them.

    I once tried advertising on right move biggest waste of time ever!!

  3. Moving is free whenever I've moved house. I do it myself.

    Anyway, move somewhere cheaper thats bigger! :)

    So you've never had to pay agency fees / credit checks / check in fee and all that other stuff?

    You are in a minority if thats true!

  4. absolute rubbish, i have rented for 12 years and absolutely do not expect my rent to increase every year! In fact if my landlord tried to put my rent up at the moment I would be off like a shot and not because I am anywhere near the edge.

    Dude remember to do the maths £20 more a month = £240 a year

    Cost of moving when you factor in fees and excluding hassle is probabaly somewhere around £500-1000.

    Is it worth it? Especially if your well settled where you are?

  5. Whats wrong with that is, there may be areas someone wants to live where every landlord in there decides 6 months is adequate. Would you like to live under a cloud whereby you might have to move your family every 6 months and you don't have a choice? The reality of security of tenure these days is one year, most people don't want the threat of moving on every 12 months.

    You're on drugs if you think someone will let to a tenant for 10 years, but regardless, who knows how long someone wants to stay anywhere? why do plans have to be made that far in advance?

    The trouble is, every landlord starts their argument at year zero for them, which is when BTL started.

    You can see form your responses, you are incredulous that there was a world before BTL. What was wrong with secure tenancies where people could live for as long as they wanted in rental accomodation and have the security that goes with it, but the flexibility to move on if required, and customize how and when they saw fit?

    You are from a generation of landlords that believe it is ok to dictate to someone else whether they can keep pets or have children, and that it is your right to enter someone elses home every 3 months to inspect it like some ******ing control freak.

    It's pointless discussing with you because you see everything as being based around BTL, an environment of speculation for the few and the misery of being priced out and bullied by landlords who can decide to kick them out for another 50 quid a month.

    As a BTL land lord i would love for someone to agree to a 10 year AST. No agency fees for me for 10 years that would be great! Add yearly rent reviews linked to inflation i.e inflation + 3%. I would snap at such an offer!!

  6. This regulation is not actually going to tackle the main issue - security of tenure. All the rest of it is just more red tape which will do very little good. The boom in BTL has raised the standards of rented accomodation, because there is so much choice about. The market has done more to improve the standards of accomodation than regulation ever would. Rents would not be as low now if BTL had never come into existence.

    Thank you someone who is talking sense and can see the benifits of BTL

  7. If rental rates are currently falling - and I think even the most bearish would accept that - there's no reason for a tenant to accept a rent increase, unless they really want to avoid the hassle of moving.

    However, if my landlord tried to push for an extra £5 a week in the current economic climate, I would be off like a shot regardless of the short-term inconvenience. I'd be suspicious that he was having problems servicing the mortgage by chasing a tiny annual gain at the risk of at best hassle and at worst a void. If the LL were a small BTL amateur, I'd be even more concerned given media reports about how such people are getting into trouble.

    LTM, this scenario probably doesn't apply to you, but can you see why your plan would be likely to give your tenants the heebeegeebees?

    TBH never had any problems most people expect there rent to increase every year. There just greatful it's so small this year

  8. I don't think you're irrationally angry under the circumstances but do agree with the others on here that it might be best for you (and meant to be?) to rent somewhere cheaper. The agent must be really confident to say that, because once it is remarketed they are still likely to get 'offers' and one month's void on that is a lot of money. Even if they get someone straight away it could take a couple of weeks to go through at a cost of £700 in rent (or the new tenant might have to give a months notice) and then there's the agents fees etc..........

    Most tenants want 6 months at first to see if they like the house and so personally I think it is really mean not to allow a break clause for an existing tenant in this situation.

    Where do you get most tenents want 6 months first?

    Every single person I knows wants a year minimum!! Do you know how much it will cost to move (refrencing and all the other charges)

  9. Ask 10 different chartists and they will give you 10 different answers.

    However it's generally accepted that the market has stop falling to new lows, and then start to put in a series of higher highs. At the moment we have a low, and this rally is still below January's, so it looks like we could be putting in a lower high... still firmly in bear market territory.

    I see the last major high as ~4630 in early Jan 09, so this current rally will need to break that to confirm the bear market is over.

    Thanks

  10. More importantly, what does it matter?

    All this bull/bear rally, psychological support barrier seems to be a load of horse poo to me, just people trying to justify why prices will/are/have moved in/against the direction they wanted.

    I agree with alot of that but if people think there is nolonger a bear market they will come back and start investing again.

  11. Sorry let me explain a bit better what you want is a tenent that will stay for a long time but accepts regular increases in rent (Thats what I was refering to when i mentioned the cycle).

    If you get tenents that kick up a fuss over £20 more a month it's better to have them leave as it's usually an indication that there on the edge.

    If you get tenents that want to nogotiate downwards and you know they are already paying below market value get rid of them quick.

    Hope that makes sense.

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