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About Me

  1. Here's what I think - A goodbye to all that buy-to-let And good riddance too. Sell now, sell everything.
  2. There's a new post on Property118 that once again points to Ireland as a possible case study for the potential impacts of Clause 24 (h/t Bland Unsight for flagging on the BTL Regrouping thread) which I'm quite pleased about because it gives me a good excuse to highlight an interesting paper from the Central Bank of Ireland that was recently referenced in both HM Treasury's December 2015 Open Consultation: Financial Policy Committee powers of direction in the buy-to-let market and The Financial Policy Committee's tools over the buy-to-let mortgage market - Impact Assessment, produced jointly wi
  3. Lots of "the alternative is a socialist hell" and "it's simple economics" arguments. They have a Facebook page. It would be a shame if anyone challenged them in the comments. https://helmores.com/are-buy-to-let-landlords-to-blame-for-mid-devons-housing-crisis/?fbclid=IwAR19rM3LSuZQ09p5kRPunfz_8pHS-Hm0KRFTSgRvPRUnCnsgCqoXw-MeOUw
  4. Very speculative thread. Not so much counting chickens before they've hatched as speculating on the mechanics of their demise whilst it conjectured, but before it arrives. Some thoughts from a conversation. We assume the following: At some point between 2016 and 2020 BCBS risk-weights start to widen the difference between mortgage interest rates on interest-only buy-to-let mortgages and rates on repayment mortgages offered to owner-occupiers, i.e. BTL mortgage rates go up Over the same time scale, Clause 24 of the Finance Act 2015 is applied in its current form turning cash flows on leverage
  5. From a few days ago, apologies if mentioned HMRC's targeting of accidental landlords falls short https://www.ftadviser.com/mortgages/2019/03/14/hmrc-s-targeting-of-accidental-landlords-falls-short/
  6. I saw an advert for this earlier in the gym. There was no sound in there, so I couldn't quite believe what I was seeing. www.buytoletcars.com That's right, for a minimum investment of £7k you can invest in a lease car, and then get your money repaid to you in 36 monthly payments, followed by a lump sum. Or not. I can't imagine what sort of person would be motivated to invest in this. Cheers, SC.
  7. https://www.theguardian.com/money/2018/oct/16/taxes-buy-to-let-landlords-rents-generation-rent-buyers Warnings by landlords that taxes on buy-to-letwould cripple the property market, driving down supply and pushing up rents, have turned out to be entirely hollow, according to research by campaign group Generation Rent. It found that since the “bombshell” introduction of taxes on buy-to-let landlords in George Osborne’s 2015 budget, rents have fallen in real terms.
  8. OK, so I need my reference material to be dependable and at hand, so I'm going to try to keep a list of posters who are have stated that they are BTLers and who have also made posts which suggest that they have not yet achieved a complete mastery of the elementary aspects of capital asset pricing methodologies. A thread here keeps it at hand. A public record might make it dependable - i.e. if people will show up and debate why they shouldn't be on the list, and other posters will stand by them, that would at the very least cast some doubt over my choice to put you on my list. Crucially, you
  9. http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/12019894/Buy-to-let-stampede-ahead-of-stamp-duty-hikes.html
  10. The sale of the Bradford & Bingley mortgage book sitting in United Kingdom Asset Resolution was confirmed in the Budget. Source: Budget 2016 Policy Paper Bradford & Bingley's buy-to-let lender, Mortgage Express, accounts for most of the loan book. Source: UKAR B&B 2015 annual report There's some 'interesting' commentary in the trade press. Source: Basel proposals could ‘compromise’ Bradford and Bingley asset sale, Mortgage Strategy, 18 March 2016 There is an alternative perspective to the IMLA argument, which is that if you are going to shut down the BTL industry, you o
  11. Prospective owner occupiers need not apply? http://www.property118.com/
  12. Some people are never going to learn This article will give hope to any P118 BTL fool desperately looking for a greater fool to unload on.
  13. Spain's Palma to ban holiday rentals after residents' complaints http://www.bbc.com/news/world-europe-43878007
  14. https://www.property118.com/truth-nottingham-council-putting-private-tenants-rents/ Haha, good luck with that ;-) This guy appears to be having some kind of breakdown:
  15. Around the time of the 'postponed' crash in 2007, I remember there was a lot of talk on here about BTL lenders possibly making "margin calls": https://moneyweek.com/could-this-be-the-ruin-of-the-buy-to-letters/ Does anybody know if these clauses are still commonplace in BTL mortgage contracts? If so, this could persuade a lot of the "in it for the long term" landlords to sell up after all...
  16. As it looks like BTL is going to blow-up spectacularly over the next few years I thought it might be interesting to have a guess at how much fraud is going to be discovered in the aftermath. We can then return to this poll at some point in the future and compare the opinions of the forum with the reality on the ground. If you vote "other" please give details in the thread.
  17. We are facing the perfect storm, for BTLers Rising Interest rates Magicked up cash drying up. LIBOR on the way up S24 Taxation Indebted population Maintenance of decaying houses. London Collapsing BrExit Population demographic Boomers dying off HTB fees Anyone with half a brain would not be holding DEBT right now. Add to that, WAR, Rising of right wing parties, immigration ending, Corbyn and what we have is the perfect storm. The BTLers arent riding a Mexican wave, they're at the front of a Tsun
  18. http://www.bbc.co.uk/news/business-43043294 More first-time buyers took out mortgages in 2017 than in any year since the financial crisis. There were 365,000 first-time buyers in the UK, the highest number since 2006 and an increase of 7.4% compared with 2016, UK Finance said. Yet this growth is expected to cool in 2018, the lenders' trade body said. The buy-to-let market was also "less buoyant", it said. Separate official data shows UK house prices rose by 5.2% in 2017. The figures, from the Office for National Statistics (ONS), showed that the 4.8% rise in the price
  19. I hope this one will be interesting! I want to keep this going so hope to come back and update. The method I'm using is: Money supermarket search (until not available, then any source) £160k property Interest only, fixed or tracker, 25 years 60% LTV (£96k) 75% LTV (£120k) 80% LTV (£128k) 85% LTV (£136k) Please feel free to update! Today... 60% LTV 75% LTV 80% LTV 85% LTV Specialist broker (2.5% arrangement fee, no first time LL, 6.33% SVR)
  20. This FTAdviser piece, Regulators turn attention to ‘unsafe’ buy-to-let sector, 18 July 2014, sourcing the remark from (I'm guessing as the piece itself is a little sketchy) the 15 July 2014 Treasury Committee Hearing on the Bank of England June 2014 Financial Stability Report. The Treasury float the regulation of BTL in its December 2009 consultation paper Mortgage regulation: a consultation. As we know, nothing came of it at that time. The responses to the consultation were published in the March 2010 paper Mortgage regulation: summary of responses, (you've got to wonder who dreams up thes
  21. All banks in the clear, seemingly very comfortable this time around, BTL not so much... "Today’s stress tests also found that buy-to-let mortgages would suffer the bulk of the losses if there was a financial crisis. Loans to owner-occupiers would be much more modest. In other words, families would keep paying off their mortgages even if the economy went into recession, but some buy-to-let lenders might struggle to meet their obligations." https://www.theguardian.com/business/live/2017/nov/28/bank-of-england-stress-tests-financial-stability-released-live Carney's narrat
  22. http://www.propertyreporter.co.uk/graham-davidson/millennials-and-buy-to-let-the-rise-of-the-young-investors.html "Unlike a lot of other investment options, property has a unique quality in the fact that it is tangible – you can touch it, see it and feel it. This alone generally means you have more options with how you choose to use it, which is why it is usually more attractive to the younger generation than perhaps stocks and bonds. It can be sold, passed on to loved ones, kept to increase in value or leveraged in order to purchase more properties to build a portfolio. Investing at a yo
  23. https://www.mortgagestrategy.co.uk/self-cert-risk-lower-buy-let-says-rating-agency/ "The risk of self-certified mortgages is overblown and is safer than lending to portfolio landlords and those with county court judgments, according to rating agency DBRS. DBRS says it has analysed the performance of different kinds of UK mortgages and found that self-cert loans had an average 19 per cent higher risk score than income-verified loans. But it also found that self-cert back books, often seen as risky, were safer than many other sorts of lending" So, has "self cert" just got a
  24. Looks like the cat is out of the bag: http://www.independent.co.uk/news/uk/home-news/rogue-landlords-12-billion-25-rentals-property-public-money-housing-benefit-lease-flats-houses-a7926421.html?amp
  25. Time for the small violin, he is facing a £700k capital gains tax bill Love this 'I could probably start by selling two or three properties. But many are in the same areas- some are on the same street - and I don't want to negatively impact property prices ' what a gent ? http://www.telegraph.co.uk/personal-banking/mortgages/buy-to-let-stampede-begins-best-sell-37-properties/
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