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Everything posted by hi5lo5

  1. https://houseprices.io/?q=Rg6 In the last 6 months, the RG6 postcode (wider than your search area) there were less than 200 properties exchanged with just only under 10 paid over 600+. Reading is good place live but the local pay didn't match the hype of M4 corridor. A large proportion of Reading population tends to work in London as IT contractors. The new IR35 changes for private sector coming in April 2020 will have serious effect on those living in Reading and working in London. Those who will be found inside IR35 will no longer be able to claim travel expenses pre tax. The real
  2. You are right, There is a significant risk to the BTL lenders supplemented by the end of 4 years interest free money tap from the TFS. If all BTL loans are forced into SVR, 75% of LLs will be bankrupt and banks will end the teaser rates for the debt junkies.
  3. Absolutely a great news for renters. Abolishing S21 will affect more EAs than LLs. S21 was a backdoor for the EAs to pass the tenant fee ban in the form of rent increases when an AST comes to an end. It would be very interesting to see how the lenders price In this risk on the BTL lending.
  4. The details are still unknown the guardian claiming that govt is planning for a consultation. I rather hope the govt goes to proceed with a bill.
  5. Some cryptic messages on the rla news Twitter feed? Are we expecting the end of section 21 tomorrow? https://twitter.com/RLA_News/status/1117481548297777152?s=19
  6. @GettingBored @TheCountOfNowhere. I own the homebuyer extension. It's high time we merge our databases, I am not after making money. Have about 200 active installs with some area data dating back to Aug 2017.
  7. Glad to hear from horse's mouth. PRA underwriting for the LLs will put the BTL mugs on a level playing field with OO's . Most marginal buyers in the south who could afford would definitely swayed by the help to buy over the magnolia painted substandard BTL homes.
  8. Monday is the debate. Please write to your MPs to turn up for the debate. http://act.generationrent.org/lobby/feesloophole
  9. +1. To start with PRA ICR test needs to be done for all the BTL remortgages even if it is taken with the existing lender.
  10. Also worth adding the point of mortgage releif is not available for the people who borrow money to invest in other asset classes thus the basic rate tax relief gives unfair advantage to the property investors. This petition is going to make Toby Llyod's job to convince May to remove the relief easier.
  11. A half baked piece, I love the way the higher rate is articulated to the anticipated rate increase. Of course it's nothing to do with stopping the free money tap(TFS)
  12. Nope.. those Muppets will see thier income going up and eventually lose any handouts from the state.
  13. It is worth getting in touch with your MP, if my memory serves right all MPs from Wandsworth area are women and one of them is Justine Greening once served as a Women and equalities minister.
  14. It is quite possible. Mad gains MEW on the main residence went on as deposit for a second home just before mad rush.
  15. BTL remortgage is in line with the Mar 2016 rush. Most lenders will allow to secure a remortgage 90 days before the end of current fixed term.
  16. http://www.propertyindustryeye.com/new-monthly-report-on-transactions-and-prices-claims-to-address-conspicuous-issues-with-industry-data/ Heaton said that foreign investors who have bought new build property in London, Manchester and Birmingham were in many cases struggling to let them out for the rental yields they needed to achieve, and laid part of the blame on agents. She said: “I am staggered by the fibs that are told to these foreign investors.” Citing the example of a recent development in London, she said that the reputable firm of agents selling the units were qu
  17. https://www.property118.com/nottingham-council-follow-letter-making-350-homeless/ Our own Mick Roberts going at it again. Dear Rav & John, Regarding your letter dated 2 March 2018. You say you are not sure if I’m aware, but the Council undertook an extensive consultation. No I was not aware of the consultation nor were my many tenants and many landlord colleagues. I’m one of the biggest Housing Benefits landlords in the Nottingham and despite my many weekly conversations with your team, Selective Licensing was never mentioned. Why did you not contact HB tenants, probabl
  18. Io btl were idiots buying premium retail rather than wholesale
  19. https://www.property118.com/make-350-people-homeless-year/ I think he means Sajid Javid. Good luck Sajid Khan wants more houses building, but his other policies are forcing thousands to be homeless with Nottingham City Council’s Selective Licensing. My Letter to Sajid Khan, Dear Sajid I am having to make 350 people homeless this year because of your decision to allow this Selective Licensing.
  20. Very close -0.3% https://www.nationwide.co.uk/-/media/MainSite/documents/about/house-price-index/2018/Feb_2018.pdf
  21. For few lenders such as Aldermore, Metro bank it will be as early as next month. Some lenders drawn down TFS to pay back FLS. It's one of the complex schemes to determine the true cost of unwinding. Some economists predict the borrowing cost would increase by 0.60%. But it could raise as high as 1.5%.
  22. Nope.. the availability of draw down is determined by the lending performance supported by the submission of corresponding collateral to the BoE. So the banks has to find new capital to meet the PRA requirement.
  23. It's a great day to remember. TFS is the fulcrum of cheap lending. Most challenger banks are functional just because of this free money tap. The next step in the unwinding of QE is systematic pay back of drawn down capital. There will be increased cost to raise capital from a securitized product. Lenders will be forced to pass this cost to the borrowers and lots of debt junkies will be moaning about their mortgage brokers inability to find a below 3% fixed rate.
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