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Dyson Fury

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  1. That's the bit I can't understand. Doesn't she know what a bath is for? Or maybe there isn't a plug, and she's on a waiting list for someone from the Council to come round and fit one?
  2. Indeed. https://www.property118.com/theres-nothing-that-will-stop-landlord-sales-agency-from-getting-your-property-portfolios-sold-in-just-19-days/ Part of what "Landlord Sales Agency" offer is the ability for a landlord to sell a tenanted property to another landlord, at a mutually agreed price. Now this is interesting, because a few years ago in 2015, Mark Alexander set up "Property118 Portal" to do exactly that. He raised £150,000 through Seedrs, which gave punters only 10% of the equity: https://www.seedrs.com/property118-portal-ltd But quickly there was a "change in market conditions" and the Portal closed down. Some of the investors were not happy: https://www.housepricecrash.co.uk/forum/index.php?/topic/205642-btl-scum-regrouping-and-on-the-offensive-merged/&do=findComment&comment=1102928936 The company went into voluntary liquidation in 2018.
  3. I was quoting figures from https://www.telegraph.co.uk/property/buy-to-let/landlords-face-battle-banks-get-mortgages/ (8 May 2022)
  4. You are completely correct in your arguments here. However, the outcome is that, as I stated, BTL landlords are able to outbid owner-occupiers for properties. So, many prospective owner-occupiers are unable to buy, and forced to pay rents which are substantially higher than the mortgage interest payments that they have been told they cannot afford. Most people on this website (and in general) agree that this outcome is undesirable. PS the original Telegraph article was moaning that the maximum landlord borrowing for £12,000 pa rental income was being cut to £188,000 from £209,000 !
  5. 'I don't know how I'll support my family': landlords' retirement dreams in tatters. Ben Cameron*, 60, has now decided to sell his 30 buy-to-lets, a portfolio he had built to fund retirement. “It is the final nail in the coffin. The Government is derailing my pension plan. I have no idea what I will do to look after my family or where I will go for security now,” he said. https://www.telegraph.co.uk/property/buy-to-let/dont-know-how-support-family-landlords-retirement-dreams-tatters/ Some of the commenters have a clear understanding of how MEWing works....
  6. This is worth thinking about in detail, although HPC regulars will already be fully familiar with the conclusion. The amount buy-to-let landlords can borrow as a mortgage is based on future rental income from the newly purchased property. The maximum mortgage available to an owner-occupier is based on a multiple of their existing income. A recent Telegraph article stated that a landlord who expects monthly rental income of £1,000 will have a maximum loan size of £188,000. That mortgage of £188,000 is 15.6 (over FIFTEEN) times the annual rental income of £12,000. A prospective owner-occupier wanting a mortgage for the same amount would, even at a generous 5-times multiple, need an existing income of £37,600 to be accepted. This is one of the reasons why BTL landlords are able to borrow much more than prospective owner-occupiers, and can outbid them for properties. The outcome is that many prospective owner-occupiers, are completely frozen out of the housing market, and forced to pay rents which are substantially higher than the mortgage interest payments that they have been told they cannot afford.
  7. ‘My buy-to-let profits are disappearing before my eyes’ Cameron O’Dell*, 29, is seeing his buy-to-let margins get hammered because he is on SVR. “My mortgage lender has increased my mortgage rate five times since Christmas. Some of the letters telling me the rates are going up again have been less than two weeks apart,” he said. “From an investment point of view, my profitability is becoming close to zero and my outgoings on the property could quickly exceed the income. I am close to the tipping point,” Mr O’Dell said. He is unable to raise the rent to offset his increased costs. “I just tried to raise the rent for the first time in five years. I was only hoping to increase it by £40 per month, but I was hit by a bit of a barrage from my tenant and the answer was no. With the rising cost of living, it is very difficult to increase the rent without losing a tenant.” 😂 https://www.telegraph.co.uk/property/buy-to-let/buy-to-let-profits-disappearing-eyes/ He is getting a real kicking in the comments!
  8. Much enjoyment to be had in the BTLegraph at present. A Battle Royal going on in the Comments sections (unfortunately, you have to be a subscriber to be able to post there). https://www.telegraph.co.uk/property/buy-to-let/landlords-will-lose-money-next-year-buy-to-let-britain-falls/ https://www.telegraph.co.uk/property/buy-to-let/have-sell-25-student-government-has-killed-sector/ https://www.telegraph.co.uk/property/buy-to-let/wont-small-landlords-left-next-year/ https://www.telegraph.co.uk/property/buy-to-let/landlords-not-social-workers-used-fix-tory-failures/ https://www.telegraph.co.uk/property/property-doctors/selling-buy-to-let-much-capital-gains-tax-do-have-pay/
  9. What if all owners of poor-quality rental homes are selling, and there are no buyers? "Who will buy"?
  10. https://www.telegraph.co.uk/property/buy-to-let/landlords-hit-15000-bills-levelling-plans/ "Hundreds of thousands of landlords face bills of £15,000 as housing secretary Michael Gove cracks down on poor-quality rental homes. The Government will introduce a new minimum standard that will push landlords to upgrade an estimated 800,000 rental properties. Max Armstrong, of North East Property Investment, a buy-to-let specialist, said the cost of bringing a three-bedroom house up to scratch would be £12,000 to £15,000." ..... "Ros Beck, 56, a landlord with multiple properties in Wales, said: "This is bound to make many want to sell, but will anybody buy? It’s a nightmare for those affected, stuck between a rock and a hard place." " Ros Beck!! But why is she concerned? None of her houses are "poor-quality" or need to be brought "up to scratch", surely? They are all top-quality homes, which would have disappeared if she had not bought them, and her tenants are so grateful to her for the opportunity to live in them?
  11. Kent Gazette coverage of the story: https://www.kentonline.co.uk/ashford/news/fergus-wilson-slapped-with-injunction-after-high-court-battl-254433/ And he's still active in the market, attempting to sell 4 blocks of flats and 150 houses (presumably without existing tenants?) to the Home Office to house Afghan asylum seekers: https://www.kentonline.co.uk/kent/news/fergus-wilson-in-asylum-seeker-flat-offer-252127/ https://www.kentonline.co.uk/kent/news/ill-sell-government-150-homes-to-house-afghan-interpreters-252372/
  12. That's interesting. I seem to remember, about 5 years ago, there was a chap who had a business plan, that he was raising money from investors for, for a website to link buyers and sellers of tenanted properties, which could be sold at a mutually agreed price, with the tenants in situ. It was called "portal 118", or something. What was his name?... Something like Alexander? I thought it sounded a reasonable idea, but it was suspended within a few months, because of changed market conditions, and the investors lost a packet.
  13. Not this one though: https://www.property118.com/member/?id=362 If he's banned, does that mean he can't log in and delete it? https://www.property118.com/ipprs-report-borrowed-time-pure-fantasy-cynical-publicity-stunt/comment-page-2/#comments
  14. No that's not him. Moodie, not Moody. His landlordtoday profile has been deleted this morning!
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