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BTL_and_milking_it

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About BTL_and_milking_it

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    Bahamas with the Bankers!
  1. The facts in this situation are house prices were rising when he wrote the article and have continued to rise since 'BTL mortgages are practically non existent' - what planet is he on? This guy really is a complete tit. House prices have risen to a higher level than he sold out at and he's pissed about that. Both himself & the discredited Merryn need to realise if they keep trying to de-ramp the housing market, they'll just make it more obvious they really don't have a clue what they are talking about.
  2. ....I'll make an assumption too mate.. You're sat there pulling your boyfriends curlies out of your teeth with a sore throat in your rented pad with and a mimimum wage job. I'm going to take your comments as a compliment, and if you have an IQ of more than 10 you can probably work out why. Oh, and you can keep the £5
  3. Hey thanks for the compliments TDIR There's no lies, im happy to come on here when ive got the time and give you the heads up from our situation. We look at the full picture & decide when the time is right. In earlier posts ive stated we bought a batch of nine properties in 2000/1 and started hedging by selling in 2006/7 at 3 time the initial purchase price, having let them more or less without any substantial void or expense during that time. So yes, im putting my money where my mouth is and have been actively buying property since late last year when the prices had dropped to a level which supported an acceptable yield. I did say at that time that property prices will always be underpinned at a certain level, and yes QE and low interest rates have helped too. IR are not going up any time soon, and when they do the economy will be back on track anyway. You've also got to remenber, that if you buy a property at auction from a bank on a 2 week completion it is NOT going to achieve a value like it would sat in the estate agents window, with a 8 week completion. For that reason we buy properties for substantially less than their true market value. To quote an example of this, one we purchased last November in the pit of the market for £73500 has just been valued for remortgage purposes by a RICS bank panel appointed surveyor at £140k, hence if we chose to, we could have drawn funding down on this property exceeding the purchase price. Its also worth noting that this property was let at £595 from 3 weeks after completion and still is. So gutsy or crazy you decide, or maybe just savvy and market aware. It would take a market crash of 50% for us to lose money on the above example. BTL investors are in a tiny minority maybe, but then nobody ever got rich following the crowd!
  4. Given the tough criteria i would say that half the level of 2 years ago (and accelerating MOM) is pretty good going. Lets not forget that 2007 was a bubble year. How about comparing to 2005/6? Tougher lending criteria now will draw a thick line between home ownership & rentboys. Subprime 'off the map' is a good thing, lending money to people who don't pay was what started the crunch in the first place.
  5. We got a bit busy buying. Can't resist popping back here now & then though to throw in the 'told you so' bit Recent postings about a zero yield are pretty silly.
  6. Ok i'll jump in here - i'll admit i was wrong. I was wrong about saying there were intelligent people here with a good understanding of economics. Most of you bears are just poor sad deluded idiots. Last year and early this year i said several times on this forum that property prices would be supported by rental yield at a certain level. which we were very close to at the time. All's this site has done has discouraged FTB members from buying when presented with a glaring buying opportunity, before the current lift in prices. Not all bad news though, 'cos we added another 8 to our portfolio in the last 9 months. Im loving this. I think maybe its time you all packed up and went home, this site has just turned into a support centre for the priced out and have-nots. Still i suppose you don't have a mortgage to pay.... wait a minute you do.. your landlords and mine - of course, your STR funds now generating a punitive amount of interest is subsidising all those buy-to-let mortgages, and therefore paying down our capital - i knew those BR+.99% lifetime trackers would come into their own 1 day. So live in our assets & pay the running costs, pay our mortgage, pay down our capital, and at the end of it all we'll bank the capital gain, now aint that a bitch! Hey thanks guys. You can slaughter the NW/Hali/RM/LR figures as much as you like. House prices are rising, the recession is ending, and the economy is recovering - deal with it
  7. Sybil Sybil Sybil. You're gonna have to up your game (or change your user name) if you want to attract attention to all this re-post drivel. Accelerating monthly mortgage approvals say to me that affordability and deposit arn't really an issue to these 1000's of employed buyers now are they?
  8. ...and well, you're just a complete knob. but then you've been told that before
  9. i did say 'usually' Ronnie, i was generalising about bullish posts on this forum. Im sure you don't need me to link for you?
  10. I think 11% off peak is fortunate for the buyer not you. In fact it's quite a bullish post. If you put your flat up for sale 6 weeks ago and had 20 viewings before it went to contract with other offers 17% off peak, then id say thats shows a very active market. I think you are looking for reassurance that you did the right thing, unfortunately your not going to get it from this bunch of rent boys on here. You only need to mention BTL (lived in it or not) Flats, green shoots (20 viewings) and property 'profit' and you'll effectively be thrown into the troll camp, usually accompanied by mouth frothing abuse! Given what you paid and it's likely rental value, why not let if for another few years and get £350k+ back?
  11. To anyone who has not voted yet..... http://www.youtube.com/watch?v=ttz8-ucWhYc :angry: :angry: :angry: :angry: :angry: Dont waste it B N P [x]
  12. You I assume are not British - you could always go home
  13. You took those words right out of my mouth Very very well put. Totally spot on.
  14. This is exactly the type of idiotic comment that the OP is talking about Take you're blinkers off Bruce and get real House prices rose last month - LUMP IT
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