wealthy Posted May 2, 2009 Share Posted May 2, 2009 (edited) http://news.bbc.co.uk/1/hi/business/8029629.stm Hundreds of thousands are falling behind with rental payments, largely due to rising unemployment, according to the National Landlords Association. You see, why get 3% from your savings when you can get a 0% return and negative equity from property investment? And if that's not enough... Landlord Rukhsana Kashmiri is owed nearly £9,000 in rent on her property in north London, after both her tenants lost their jobs."I'm on anti-depressants and pain-killers, " she says. "My health is not good, and my whole body is aching." Add some health problems into the mix Caveat Emptor, Pal. Edited May 2, 2009 by wealthy Quote Link to comment Share on other sites More sharing options...
Michael Posted May 2, 2009 Share Posted May 2, 2009 (edited) i want ALL the BTL scum to ache all over Edited May 2, 2009 by Michael Quote Link to comment Share on other sites More sharing options...
Willy Weasel Posted May 2, 2009 Share Posted May 2, 2009 Whodathunkit? I wonder what the BTL landlords will do when they are faced with paying the mortgage on a depreciating asset themselves? The crash continues... Quote Link to comment Share on other sites More sharing options...
Frank Hovis Posted May 2, 2009 Share Posted May 2, 2009 What a misleading title, typical amateur hour bbc. It is not: Tenants 'in most debt since 80s' Which implies they have the highest level of general debts which is not even being measured. This would be the renters' problem. It is: Tenant arrears highest since 1980s This is the amateur BTL landlords' problem. And mostly of their own making. Leave being a professional landlord to professional landlords. You muppets. Quote Link to comment Share on other sites More sharing options...
wealthy Posted May 2, 2009 Author Share Posted May 2, 2009 Leave being a professional landlord to professional landlords. You muppets. Quote Link to comment Share on other sites More sharing options...
Scunnered Posted May 2, 2009 Share Posted May 2, 2009 Adam Sampson, of the housing charity Shelter, said the government should now offer support to tenants in the same way it has given help to debt-laden homeowners. Good point. I'm not holding my breath though. Quote Link to comment Share on other sites More sharing options...
endgame Posted May 2, 2009 Share Posted May 2, 2009 Rents are rediculously high and only affordable if subsidised by housing benefit or tax credits. A family house costs about £800 a month and the typical wage for the average guy is about £400 a week. How can a man pay for everything else out of the remaining £800 per month without social help? House prices and rents have crept up over the last 10 years fueled by these inflationary measures. If the Torys get in and scrap tax credits then the systems really stuffed. Defaults on rent and mortgage payments will rocket. Quote Link to comment Share on other sites More sharing options...
laurejon Posted May 2, 2009 Share Posted May 2, 2009 Rents are rediculously high and only affordable if subsidised by housing benefit or tax credits.A family house costs about £800 a month and the typical wage for the average guy is about £400 a week. How can a man pay for everything else out of the remaining £800 per month without social help? House prices and rents have crept up over the last 10 years fueled by these inflationary measures. If the Torys get in and scrap tax credits then the systems really stuffed. Defaults on rent and mortgage payments will rocket. In India and China a lot of families share accomodation, and in turn share the childcare costs so many people can have an evening job as well as a day job. Surely the reason we have this problem is that having signed up to Globalisation, we are unprepared to lower our standards in order to compete on the world markets. Its small wonder our jobs are all going overseas under the labour party as ten years of Labour has created an unskilled, uncompetative, and unsatisfactory workforce. Quote Link to comment Share on other sites More sharing options...
renterbob Posted May 2, 2009 Share Posted May 2, 2009 What a misleading title, typical amateur hour bbc.It is not: Tenants 'in most debt since 80s' Which implies they have the highest level of general debts which is not even being measured. This would be the renters' problem. It is: Tenant arrears highest since 1980s This is the amateur BTL landlords' problem. And mostly of their own making. Leave being a professional landlord to professional landlords. You muppets. Can't Gordon bail them out? Tax payers money to pay BTL landlords when scummy renters default. Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted May 2, 2009 Share Posted May 2, 2009 4% rental yield ? Quote Link to comment Share on other sites More sharing options...
renterbob Posted May 2, 2009 Share Posted May 2, 2009 In India and China a lot of families share accomodation, and in turn share the childcare costs so many people can have an evening job as well as a day job. Surely the reason we have this problem is that having signed up to Globalisation, we are unprepared to lower our standards in order to compete on the world markets. Its small wonder our jobs are all going overseas under the labour party as ten years of Labour has created an unskilled, uncompetative, and unsatisfactory workforce. In Tokyo it's even better, people live in a space the size of a single bed, literally. Maybe we, the UK populace, could go back to living in caves. Would that make Kirsty happy? As for globalisation, surely you mean the absurd exploitation of the world by corporations, as that's all it's good for. Quote Link to comment Share on other sites More sharing options...
DementedTuna Posted May 2, 2009 Share Posted May 2, 2009 (edited) "I'm on anti-depressants and pain-killers, " she says. "My health is not good, and my whole body is aching." Squeal, piggy, squeal. About bloody time. Amateur BTL'ers have almost no real money invested, and for the last 8 years have been a simple middleman between the banks and the public it loves to steal from, doing the dirty work and taking the risk of default in return for taking a hefty cut of the bank's sweet sweet money. All at the expense of the poor sod working for a living while the BTL'er remains comfy sitting on their fat ar*e using borrowed money to make £100k+ year for nothing. It didn't take real investment, as is the case with proper landlords, who often pay cash, making sure that they never have to chuck their tenants on the street due to being reposessed.. no all it took was some jumped-up litle pillock from exeter who got £20k from mummy and daddy and decided to "get into" property, on account of them lacking morals and being too thick to do anything else. It's a trend I notice a lot with landlords, they do it because they're not smart enough to run a real business... and boy do they have a chip on their shoulder about that one. Well, fat leeches, not only have you killed your host, but it's time to realise you were simply a smaller, more pathetic leech hanging on the back of the monster banking leech, and it's too sick to want you around anymore. I hope the f*ckers all discover the not so nice side of "the miracle of leverage" soon, a nice round of interest rate rises would do the trick quite well. Edited May 2, 2009 by DementedTuna Quote Link to comment Share on other sites More sharing options...
renterbob Posted May 2, 2009 Share Posted May 2, 2009 About bloody time.Amateur BTL'ers have almost no real money invested, and for the last 8 years have been a simple middleman between the banks and the public it loves to steal from, doing the dirty work and taking the risk of default in return for taking a hefty cut of the bank's sweet sweet money. All at the expense of the poor sod working for a living while sitting on their fat ar*e using borrowed money to make £100k+ year for nothing. Well, fat leeches, not only have you killed your host, but it's time to realise you were simply a smaller, more pathetic leech hanging on the back of the monster banking leech, and it's too sick to want you around anymore. I hope the f*ckers all discover the not so nice side of "the miracle of leverage" soon, a nice round of interest rate rises would do the trick quite well. Did you say interest rates? The problem is that interest rates will have to rise to attract investors who have to fund our huge borrowing requirement. It is expected that those in negative equity will see their variable mortgage rates rise to 9% in the next 12 months. When that happens people will struggle to repay their mortgages. Green shoots may wither if we get a late frost. That frost is a cut in public spending and rising interest rates. http://news.bbc.co.uk/1/hi/business/8025856.stm Quote Link to comment Share on other sites More sharing options...
pete.hpc Posted May 2, 2009 Share Posted May 2, 2009 Rents are rediculously high and only affordable if subsidised by housing benefit or tax credits.A family house costs about £800 a month and the typical wage for the average guy is about £400 a week. How can a man pay for everything else out of the remaining £800 per month without social help? House prices and rents have crept up over the last 10 years fueled by these inflationary measures. If the Torys get in and scrap tax credits then the systems really stuffed. Defaults on rent and mortgage payments will rocket. Scarey really, how the cost of housing has been artificially inflated firstly through government sponsored anti-tenant legislation to provide the spark, government mandated reckless borrowing to provide the fuel, then government funded rent subsidisation (and general living expsenses) through benefits, and finally, when it all collapsed, government funded bailouts of failed and bankrupt lending institutions. Funded by the private sector. Who are also funding the explosive expansion of the public sector. Quote Link to comment Share on other sites More sharing options...
porca misèria Posted May 2, 2009 Share Posted May 2, 2009 QUOTEAdam Sampson, of the housing charity Shelter, said the government should now offer support to tenants in the same way it has given help to debt-laden homeowners. Good point. I'm not holding my breath though. Why "now", as opposed to at other times? OK, the meeja weren't talking about it, but Shelter of all people should have noticed! "now" in particular is when we (the taxpayer) very clearly can't afford that kind of crap. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted May 2, 2009 Share Posted May 2, 2009 Does this mean there are thousands of amateur landlords just about to default and face repossession? The article doesn't investigate the problem far enough. Quote Link to comment Share on other sites More sharing options...
Prof Posted May 2, 2009 Share Posted May 2, 2009 "I'm on anti-depressants and pain-killers, " she says. "My health is not good, and my whole body is aching." No pain, no gain ! Don`t worry, you`re in in for the long term, aren`t you ? Quote Link to comment Share on other sites More sharing options...
Guest DissipatedYouthIsValuable Posted May 2, 2009 Share Posted May 2, 2009 (edited) Are we having a recovereh yet? Edited May 2, 2009 by DissipatedYouthIsValuable Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted May 2, 2009 Share Posted May 2, 2009 Are we having a recovereh yet? according to the mouth John Prescott on R4 just now we are in the recovereh, here and in the US, and hes going out in his bus to tell us all the good news. the tw@ wouldnt stop talking....we are doomed. Quote Link to comment Share on other sites More sharing options...
pete.hpc Posted May 2, 2009 Share Posted May 2, 2009 No pain, no gain !Don`t worry, you`re in in for the long term, aren`t you ? It's her pension Quote Link to comment Share on other sites More sharing options...
SarahBell Posted May 2, 2009 Share Posted May 2, 2009 It should be "renters in biggest arrears" Although the number of door to door tenant loan companies has probably never been higher. Quote Link to comment Share on other sites More sharing options...
richc Posted May 2, 2009 Share Posted May 2, 2009 Rents are rediculously high and only affordable if subsidised by housing benefit or tax credits.A family house costs about £800 a month and the typical wage for the average guy is about £400 a week. How can a man pay for everything else out of the remaining £800 per month without social help? House prices and rents have crept up over the last 10 years fueled by these inflationary measures. If the Torys get in and scrap tax credits then the systems really stuffed. Defaults on rent and mortgage payments will rocket. Housing benefit is out of control. You can get more than 100,000 pounds a year in housing benefit if you have 4 children in central London. This is the equivalent of making a salary of about 150,000 pounds after tax (i.e. those NuLabour considers "rich" and worthy of extra taxation). Why is the government taking money from working people so that benefits claimants can be living the life of the "rich"? Either making 150,000 pounds a year in Central London means you just have enough money to get by on, or means you're rich. Labour wants it both ways. I saw this in the Budget last week. They announced this "consultation" to fix the problem a year ago, but it still hasn't happened. 5.32 The joint Department for Work and Pensions and HM Treasury internal review of Housing Benefit was announced at Budget 2008, to examine its effectiveness in promoting work incentives, efficiency and fairness, and providing value for money. Indications from this internal work are that some claimants may be able to afford accommodation that is out of reach of working families on low incomes. Furthermore, costs of Housing Benefit have been rising above inflation despite static caseloads. Taking steps to address these challenges while ensuring that claimants continue to have access to suitable accommodation will be difficult. The Government therefore intends to launch a consultation shortly on the measures it can take to improve the incentives for those returning to work and reduce total spending on Housing Benefit in the medium term, while maintaining access to suitable housing for those who cannot work. 5.33 The Local Housing Allowance (LHA) was introduced in April 2008, and costs have exceeded the planned expenditure for this policy. [Who would have guessed?] To bring the cost into line with what is affordable, whilst still ensuring all recipients can afford their rent, the Budget announces that from April 2010 there will no longer be scope for anyone to receive more LHA than they have to pay in rent. Existing claimants will move onto the new arrangements on the anniversary of their claim. Quote Link to comment Share on other sites More sharing options...
SarahBell Posted May 2, 2009 Share Posted May 2, 2009 LHA has failed and the sooner they start massivley reducing it the better it'll be for taxpayers and the wider economy. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted May 2, 2009 Share Posted May 2, 2009 LHA has failed and the sooner they start massivley reducing it the better it'll be for taxpayers and the wider economy. More market distortions helping to push the costs higher. Quote Link to comment Share on other sites More sharing options...
Harry Sacks Posted May 2, 2009 Share Posted May 2, 2009 i want ALL the BTL scum to ache all over Me too! I want their bum holes to itch constantly and bleed when they do a poo. Quote Link to comment Share on other sites More sharing options...
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