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About TopBanana101

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  1. https://www.google.com/amp/s/www.bbc.co.uk/news/amp/uk-wales-politics-54166672 Requirement for 6 months notice now extended until March in Wales. England next.
  2. Sorry I've only scan-read the thread. But I read, no deposit protection, no section 21 nor section 8, no account of legislation changes regarding CV19. A lot depends on how big your balls are, and if you're disgruntled. This guy isn't fit for purpose, he's either incompetent or a rogue. Personally I'd wait as long as you can and ask as late as possible if he is actually going to send a notice to repossess.
  3. Imagine the stress if you took a BBL and a payment holiday at the same time....
  4. Cash-flow is their only friend. High LTV IO brigade will be hit first probably in this order: HMO (lower income - higher mortgage costs) Holiday lets (lower income, fraudulent Bounce-Back Loan applications, future lock-downs) BTL sold to Ltd companies in unapproved structures to avoid CGT. Portfolio residential BTL (Increase in LTV value caused by reduced capital values because of the above). They simply can't afford to pay the tax bill on disposal as they've already spent the money! This will explain better than I can: https://www.taxinsider.co.uk/propert
  5. This is where the portfolio landlord gets thrown under the bus .... the MEW that funded their expansion has trapped them in this market.
  6. You may be suprised, but as landlords aren't the sharpest tool in the box, most downloaded tenancy agreements are very vague on this point. AST are consumer contracts, the BTL debtors are commercial contracts. I've been chased as a guarantor twice and never paid a penny because of unenforceable contract conditions. If anything changes within the contract or after the fixed term it's unenforceable in consumer agreements.
  7. We had to let a few contractors go 2 weeks ago on a project while the client shut their site. Never easy but, it happens and normally temporary. Today I got a call from his landlord wanting to know the detail on how much I've paid him over what period. When I refused he explained that it was a legal requirement so he could apply for a government payment holiday to help him out. Never liked landlords much, a little bit less today, can't imagine they could get any lower.
  8. HPI stays at 0% until problems in the mortgage market are 'resolved' banks are blaming being unable to value properties in removing LTV products over 60%. Specialist BTL lenders can't access the funds supplied to high-street banks.
  9. Which is what is happening. Disagree under Force Majeure
  10. Force Majeure has been in full-swing since for a few weeks in CAPEX projects. Everyone is banging invoices in like there is no tomorrow. Cash is king and everyone is trying to sit on the largest pile on the other side of armageddon. We're doing what we can and have a preference of payments during lockdown: One-man-bands who are most as risk get paid first. Larger company payments are on hold until they can prove they are at risk of going under. PLC invoices are not paid, their shareholders are expected to smooth cash-flow. Investment companies and lease holders c
  11. This. It's about imports into the country to restock. I've got millions of pounds of automation waiting to cross the channel causing huge economic loss, but obviously we need to restock essential day-to-day stock which should be pushed to the front of the queue, and it is. Your sh*tty tat from china can wait. No conspiracy here, move along!
  12. Cash-flow. Holiday lets will feel the pinch first if this escalates. https://www.property118.com/budget-implications-on-holiday-lets/
  13. I'm with you ... What's the bigger picture here as it doesn't make sense? Most of my friends back home live in their overdraft to pay off credit cards! I'd guess to get out of that cycle will take at least a year! It's clearly targeting something, but I can't work it out. If it kills the OPM (other peoples money) mantra then great, but the collateral damage is too high imho. Maybe forcing people stuck in this cycle with no assets to speak of to go the IVA route and wipe everything clean? I can't work it out.
  14. Agreed, Challenger Banks are screwed but the industrial giants will be fine imho.
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