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oatbake

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Everything posted by oatbake

  1. The downside being that you can't realise any of the gains* and the house you want to buy has often gone up by more... (* Unless you downsize or sell up completely...)
  2. Stamp duty holiday doesn't end completely until the end of this month I don't think. Things still crazy in the area I am looking in though but supply does seem to be increasing slowly (Yorkshire).
  3. Furlough end at the end of this month apparently. I do think that things will cool going into the autumn with NI increase and increasing energy costs playing on people's minds. Essentially it achieves the same as an interest rate rise in that it eats into budgets. I don't like the idea of families struggling financially but this will definitely "improve" things on the supply side I feel (debt/distressed sales), and help to suppress the demand side also (wariness to spend too much).
  4. There has actually been a noticeable uptick in supply over the last few days (looking at a Rightmove). Will continue to report back on this thread if anybody is interested. I'm guessing not many people on here are actively looking to buy at what is increasingly looking like the top of the market! Our strategy has been to, before putting in an offer, agree a hard limit. If we reach it we're not being drawn into bidding wars etc. We just walk away. If it's not meant to be, etc
  5. Sold up earlier this week in preparation... We'll see...
  6. Agreed. They're was no distinction. We just wanted to leave the EU. With a deal would have been nice but I don't know anybody for whom leaving was conditional on getting a deal.
  7. I'm in IT and it feels as though I'm the odd one out at work in that I am not thinking about buying or already have a buy to let. It's totally nuts.
  8. Totally. He will *need* to price very aggressively to shift them all quickly or cash flow will be their undoing. Paying the mortgage on 900 homes (or whatever they are claiming to have) is not at all cheap! Given that they're all in the same geographical area, this sounds like it could be especially tricky... And that assumes all tenants obligingly leave after two months *and* continue to pay rent until then. Ouch.
  9. This is going to be a firesale. If they want to escape voids (extremely painful if you have so many) they're going to have to price very competitively indeed. I have a feeling they're going to have severe cashflow problems in the near future...
  10. Interesting. I reported one of these raffles a while back. It too had a similarly easy question but they replied telling me that there was no problem, due to the presence of the question. I wonder if they've been given some "clarification" of the rules to enforce.
  11. Sorry, Axe The Tenant Tax (ostensibly fighting for tenants' interests; actually a group of landlords trying to save their own sorry, overleveraged asses). Many of the landlords from Parasite118 frequently comment on the ATTT posts.
  12. It's at times like this I'm really glad I don't have a portfolio of crappy BTLs to worry about (not to mention a large amount of mortgage debt). I think this is the year that S24 is really going to bite hard! And on the ATTT facebook page, the penny seems to be finally starting to drop that landlords selling up in large numbers is exactly what the government were trying to achieve all along... Wait till they also realise that tenants can indeed afford to buy, but only if the price comes down a lot first... In fact their selling up *depends* on tenants being able to afford to buy. Merry Christmas ?
  13. Won't S24 cripple him? I actually think they must now be sailing pretty close to the wind. And S24 ramps up again in April. I think this is why they're being so irrational. It is last chance salloon stuff.
  14. As I recall the judge said that the fine would be designed to have an impact / to hurt.
  15. Personally, I think he would end up bailing out homeowners who have borrowed recklessly; at the expense of everybody else. I just don't feel that he had the stomach to see people losing their homes, no matter how stupid and irresponsibible they have been. Privatise the gains and nationalise the losses. However, I think it may not come to that as I feel the Tories will ditch Theresa May if her universally hated deal does not go through parliament next week. If she remains in charge of the Tories I don't care who gets in as long as it's not her. She has been thoroughly incompetent right from the start (calling the election, refusing to take part in the TV debates, Brexit negotiations etc). Most of all I feel thoroughly depressed at the choices on offer. Both Labour and the Tories are totally awful. Either one would clean up at an election if they had half-decent leaders. Other parties are an irrelevance, as usual. I do wonder whether we'll see a new party emerge from the ashes of all of this.
  16. Personally I'm not convinced that it will be that easy for the government, now the cat is out of the bag. From what I've read it sounded like it had transformed into a wider protest about the cost of living.
  17. The timing of the yellow vest thing is interesting... rioting is normally a summer activity. I can't imagine it's much fun coming up against water cannons in December... I was watching a guy going around interviewing the demonstrators and the whole thing sounds like it's escalated from fuel tax protests to a wider protest against the "cost of living". I wonder how long it will l be until the idea catches on over here...
  18. Good find. I'll look forward to that being posted on the ATTT page... Sounds like further confirmation that S24 is, as suspected, a landlord tax rather than a tenant tax.
  19. What are the GDPR implications? Can tenants request a copy (for free) of any footage? How long does it need to be kept for? Sounds like an admin nightmare if tenants were to submit requests en masse....
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