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About TopBanana101

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  1. I believe that selling in the future and downsizing is a valid repayment mechanism. I have a few family members that are convinced this is a brilliant strategy. All they have is a lot of debt and the only way to pay it off is to unwind the leverage and pay CGT with money they've already spent!
  2. I followed the story. It must have been draining for you, but take a bow Sir.
  3. I think the same. But I think that the fair value would already have been found by then. It's MMR earnings rates, so compensation will take you to 4 times earnings of the tenant. I think the bailout v2 will be the compensation of the difference between mortgage value and sale price but after the repossession of the PPR which leveraged the whole portfolio. A landlord in social housing (can be their old PPR under new ownership) would kill the rentier class stone-dead for a generation.
  4. https://propertyindustryeye.com/rise-in-mortgage-possession-actions-driven-by-one-mystery-lender/ Does anybody want to guess which lender is driving this?
  5. What happens when they do go pop and they are sitting on £600m of QE inflated funny-money?
  6. I've heard things along these lines. A home is a right, fear of losing it must be removed from the equation. Home owners have been offered this level of security from Bank repossession since the last crash. If the PRS is to become a permanent fixture rather than a monetary blip, then the end-game is tenants credit checking landlords. To my mind this explains the reluctance to close the door on landlords moving to Ltd. Everything is much more visible now.
  7. Interestingly it seems as if Halifax aren't behind it? https://ihsmarkit.com/products/halifax-house-price-index.html Maybe they just supply raw data?
  8. I'd really like to see the algorithm. But a wise man told me as an apprentice to never put down anything maliciousness which can equally be explained by incompetence. It's quite dangerous comparing averages when you don't know what they are averages of!
  9. Does anyone know exactly what metrics this index is based on? Aware it is mortgages, but does it include remortgages or just new purchases? I'm struggling to find their actual lending ratios, i.e. I'd like to see a breakdown of BTL purchases/BTL remortgages/Owner Occupier Purchase/remortgage.
  10. To keep the context: So they'll want tenants? Why would they kick the tenants out in a falling market and extend the void period? LTV falling across their portfolio will only add to refinancing problems meaning cash-flow is critical to keep LTV in a preferable zone. Joint-Venture capital is actually going into the BTR sector. Lower maintenance costs (all in the same area/building), more attractive facilities for tenants that BTL properties cannot offer. Residential BTL is now stone-dead and the great-fools have been chosen.
  11. That's not how markets work; the letting agents will be squeezed. 50% of landlords don't use letting agents, I suspect that number will increase. Asking price for rents may rise in the short-term, but in the long-term, there is less cost for the tenant to shop around. Affordability sets rents, not landlords costs & there is now nothing stopping tenants playing one landlord off another. This is not the time in the economic cycle to be leveraged with debt.
  12. For too many years I paid agents thousands to treat me like sh*t. When I'd ever dare to complain, they reply they were employed by the landlord therefore worked in his interest not mine. But here's me, the ultimate customer paying the bill! I'm going to enjoy watching them burn is the harsh truth.
  13. My assessment: intelligent chap, knows the 'magic formula' of wealth from the last 10 years. In 10 years we've pretty much trained the next level of middle management with YouTube and social media. This guy is selling a dream though the best channels.
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