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eek

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Everything posted by eek

  1. Remember that Limited Liability partnership sc(am)heme Busta was selling last year well it appears that he's finally found out that it doesn't work https://www.property118.com/beware-tax-planning-models-using-llps/
  2. Agreed it doesnt make sense unless and until lenders discover they have money that they cannot lend to anyone so cut rates to attract the few borrowers they can lend money to. Meanwhile all banks are going to ramp up their btl standard variable rates to profit from those unable to find anyone willing or able to issue a new loan
  3. Letting fees won't be banned on 1st April. They will be banned but a consultation has to be done first and that can't do that to meet a April 1st deadline. I expect the ban to take effect 1/4/2018...
  4. Yep recessions need to be frequent - as frequent recessions are short and swift. This one definitely won't be but as 80% of my business is now offshore it won't really impact me...
  5. A final visit before I finish for Christmas brings up the following masterpiece https://www.property118.com/impossible-get-remortgage/93434/ Income £650 a week wanting a mortgage of £417,000 and the most he can get is £405,000..... So things are beginning to tighten up a bit and the remortgaging is going to become far harder next year.... Next year Rodders - they'll all be bankrupt....
  6. Given that the market is definitely going to get worse for crap btl properties should we suggest that she stops buying the mortgages now to ensure the properties are auctioned before everyone else's.
  7. Up north we are already at 2004 levels and have never really moved much above or below them - and still people aren't buying much. I think prices will have to be a lot lower than that...
  8. When did the tone of MSE forums change? That isn't the reactions you would have got a couple of years back.... And they are utterly screwed. No work should have been done on the property and losses swallowed as early as possible....
  9. Oh until the public sector IR35 changes come in from April 1st....
  10. Thinking about it the mini boom from the stamp duty changes finished in April so that is probably the last bull trap. Only 1 direction to go from here on in....
  11. Yes it would which is why you end up the Busta selling that dodgy (to most people) deed of trust scheme. You actually don't want them doing that. Purchasing houses the way they have means that they need to extract themselves from their portfolio by selling the houses in the correct order as the earlier houses with all the equity withdrawn for deposits elsewhere won't generate enough profit to cover the capital gains tax due.
  12. Spareroom.co.uk and mondaytofriday.com are what I use. Just search for ones where you live with owner....
  13. If you change bomb to gas leak you can see why the BoE want to fix it now rather than later. The Robles is only going to get worse if you leave it and doing nothing isn't an option as it will explode by itself anyway at some point. best to get the nose peg and dive in
  14. Wait to you see up north. The best figures are 20% a lot have a 12-16% sold ratio. That means either properties are actually selling or more likely things are just sat there for months....
  15. That option has also been attacked in the autumn statement. It's no longer so tax efficient to shift your loans to a limited company....
  16. If you want a laugh - this is one of the better value properties I've see recently http://www.rightmove.co.uk/property-for-sale/property-40535724.html and from houseprices.io 02 Jul 2004 £287,000 I think Council Band F rather destroys most peoples desire to buy it. If its there in April I may make an offer at 2/3 of asking.
  17. In the north of England prices are rapidly approaching 2004 prices. I'm expecting them to fall to 2002 prices sometime in 2018. for reference the boom in prices around our next of the woods was in 2003.
  18. You know when you read something and wish that both / neither sides could win... Well I give you https://www.property118.com/litigation-looms-for-greedy-letting-agents/92764/ landlords looking to claim unfair tenant fees from Foxtons and others because heck they deserve the money more than the the slimy haired mini drivers and the actual tenants who paid the money they were unfairly charged
  19. Or in Ashford, Kent 10% of all properties in one swoop.....
  20. I think the amount paid will depend very much on how much capital Basel 3 requires the buyer of those loans to hold. My inkling is that the capital required may be enough to make those loans very unattractive to possibly buyers even at an additional 20-30% discount off book value.
  21. Given that the sensible time to sell was when the market signal was given (in July 2015) you can safely say that anyone still holding BTL property is holding on rather than thinking things through. But as I've commented elsewhere recently its remarkable how many people don't read the papers or listen to what is actually happening and then are taken by surprise when things announced 18 months earlier kick in.
  22. Foreign "Investors" don't buy to let property out. They buy in the UK to have an escape route when things catch up with them. BTLer's can buy a £300,000 house assuming they have £75,000 deposit +£15,000 stamp duty + other sundry costs and the house can be let for at least £1500 a month. So I can't imagine either of the above actually exist....
  23. Paying your leccy bill is the least of your worries.(and it won't be like that as you will be transferred to someone asap). What you will find (as I did when the same happened to me 10 years ago) is that your meter readings will be lost. As a minimum get your meter readings into any system you can access asap so that when the company is taken over you are only paying for electricity you've used rather than being double charged for x months of electric due to the last reading being incorrect. Likewise as soon as you have an account with the new supplier supply them with an up to date reading...
  24. Capital gain only works if you buy a house that's costing 2 or 3 times average earnings and banks are about to increase the amount you can borrow to 3 or 4 times average earnings. Sadly they've done the exact opposite and bought at 5-6 times average earnings while banks are being told to reduce borrowing amounts to max 3 times average earnings (and believe me I'm being generous there considering the affordability rules)..
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