eric pebble Posted June 15, 2009 Share Posted June 15, 2009 hoooooooooorah!!!!!!Woop Woop!!!! oooh, can you hear that? <distant phwarrrp phwarrrp sound of emergency horn> I think the SS BTL is sinking, and sinking fast!!!! Quick, man the guns, lets finish off the survivors!!!!!!!! (i know, thats not very nice, but what the hell) Quote Link to comment Share on other sites More sharing options...
Austin Allegro Posted June 15, 2009 Share Posted June 15, 2009 I'm not getting any hopes up. There was much talk of a flood of BTL properties on the market when CGT changed for financial year 2008, but this wasn't particularly noticeable, more of a trickle really. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted June 15, 2009 Share Posted June 15, 2009 I'm not getting any hopes up. There was much talk of a flood of BTL properties on the market when CGT changed for financial year 2008, but this wasn't particularly noticeable, more of a trickle really. Coz BTL is a load of b0ll0cks... Quote Link to comment Share on other sites More sharing options...
smiffy1967 Posted June 15, 2009 Share Posted June 15, 2009 Never seen so many TO LET signs up. Not just to let signs, I live on a new estate, houses were built around 4 to 5 years ago - so everyone that brought was either trading up or first time buyers - also lots of BTL snapped up property. Within a 5 min walk from my house there are at least 10 houses for sale and 6 to let. Me thinks people are panicking and are up to there eye balls in debt - some even recently lost there jobs - i am in Central shropshire and the west Mids where most work has been hit hard. Quote Link to comment Share on other sites More sharing options...
mbga9pgf Posted June 15, 2009 Share Posted June 15, 2009 Not just to let signs, I live on a new estate, houses were built around 4 to 5 years ago - so everyone that brought was either trading up or first time buyers - also lots of BTL snapped up property. Within a 5 min walk from my house there are at least 10 houses for sale and 6 to let.Me thinks people are panicking and are up to there eye balls in debt - some even recently lost there jobs - i am in Central shropshire and the west Mids where most work has been hit hard. You all know what the BTL repo floodgates is going to do dont you? Statistics, statistics. BTLs tend to be at the lower end of the market. If BTL scumlords all decide to bail, its going to crash prices. FAST. The only reason I think we have had an increase recently is down to the vast majority of properties being sold are at the top end of the market as FTBs have abandoned the market. Time for PAYBACK Quote Link to comment Share on other sites More sharing options...
eric pebble Posted June 15, 2009 Share Posted June 15, 2009 You all know what the BTL repo floodgates is going to do dont you?Statistics, statistics. BTLs tend to be at the lower end of the market. If BTL scumlords all decide to bail, its going to crash prices. FAST. The only reason I think we have had an increase recently is down to the vast majority of properties being sold are at the top end of the market as FTBs have abandoned the market. Time for PAYBACK Yup. This greenshoots SH!T is just that --- TOTAL SH1T..... Quote Link to comment Share on other sites More sharing options...
eric pebble Posted June 16, 2009 Share Posted June 16, 2009 I'd imagine that right about now, London2Manchester and Sibley are just loading the bullets into their revolvers and pouring themselves one last glass of scotch... Quote Link to comment Share on other sites More sharing options...
Kazuya Posted June 16, 2009 Share Posted June 16, 2009 I'd imagine that right about now, London2Manchester and Sibley are just loading the bullets into their revolvers and pouring themselves one last glass of scotch... This emoticon is perfect for explaining the bulls attitude towards this crash: Quote Link to comment Share on other sites More sharing options...
eric pebble Posted June 16, 2009 Share Posted June 16, 2009 This emoticon is perfect for explaining the bulls attitude towards this crash: Yup. Desperation. Quote Link to comment Share on other sites More sharing options...
Akrasia Posted June 16, 2009 Share Posted June 16, 2009 You all know what the BTL repo floodgates is going to do dont you?Statistics, statistics. BTLs tend to be at the lower end of the market. If BTL scumlords all decide to bail, its going to crash prices. FAST. The only reason I think we have had an increase recently is down to the vast majority of properties being sold are at the top end of the market as FTBs have abandoned the market. Time for PAYBACK My first thought on this was that it overlooks the fact that the NW and Halifax indices are mix-adjusted. In theory, a change in the type of properties that are selling shouldn't show up in the figures. However, the indices are mix-adjusted for property size but not for property condition (if I understand correctly). BTL properties tend to be in worse condition, so perhaps an increase in BTL properties coming to market would push prices down after all. Quote Link to comment Share on other sites More sharing options...
mikthe20 Posted June 16, 2009 Share Posted June 16, 2009 (edited) You all know what the BTL repo floodgates is going to do dont you?Statistics, statistics. BTLs tend to be at the lower end of the market. If BTL scumlords all decide to bail, its going to crash prices. FAST. The only reason I think we have had an increase recently is down to the vast majority of properties being sold are at the top end of the market as FTBs have abandoned the market. Time for PAYBACK Agreed. Also, if their BTLs are repossessed wouldn't that mean that their main home would also potentially be repo'd in order to pay any sums outstanding on the BTL mortgages? Could therefore mean more repo'd houses at higher end of the market coming on. What's the average number of properties a BTL landlord has? Let's say 3. Would potentially mean for every 3 BTLs repossessed one additional, higher-value property is repossessed. Edited June 16, 2009 by mikthe20 Quote Link to comment Share on other sites More sharing options...
eric pebble Posted June 16, 2009 Share Posted June 16, 2009 Agreed. Also, if their BTLs are repossessed wouldn't that mean that their main home would also potentially be repo'd in order to pay any sums outstanding on the BTL mortgages? Could therefore mean more repo'd houses at higher end of the market coming on. What's the average number of properties a BTL landlord has? Let's say 3. Would potentially mean for every 3 BTLs repossessed one additional, higher-value property is repossessed. Ooh! Ooh la la! as they say in Paris... Quote Link to comment Share on other sites More sharing options...
eric pebble Posted June 17, 2009 Share Posted June 17, 2009 Time for PAYBACK Yup. Long overdue. Quote Link to comment Share on other sites More sharing options...
Fairies Wear Boots Posted June 17, 2009 Share Posted June 17, 2009 Yup. Long overdue. The government has tried it's hardest to prop the market up. And still it has slid downwards. Spring bounce will soon be over and then the turkey shoot will really begin! Quote Link to comment Share on other sites More sharing options...
Kazuya Posted June 17, 2009 Share Posted June 17, 2009 Quote Link to comment Share on other sites More sharing options...
eric pebble Posted June 18, 2009 Share Posted June 18, 2009 The government has tried it's hardest to prop the market up. And still it has slid downwards. Spring bounce will soon be over and then the turkey shoot will really begin! Yup - so true. Quote Link to comment Share on other sites More sharing options...
Pytyr Posted June 18, 2009 Share Posted June 18, 2009 For every overleveraged BTL reposessee, another renter gets made homeless through no fault of their own. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted June 19, 2009 Share Posted June 19, 2009 For every overleveraged BTL reposessee, another renter gets made homeless through no fault of their own. Yup - it's a scandal - unreported of course.... Quote Link to comment Share on other sites More sharing options...
LondonToManchester Posted June 19, 2009 Share Posted June 19, 2009 I'd imagine that right about now, London2Manchester and Sibley are just loading the bullets into their revolvers and pouring themselves one last glass of scotch... I'm not worried and actually think it's a good thing. Less BTL means more tenants for me!! Quote Link to comment Share on other sites More sharing options...
PotNoodle Posted June 19, 2009 Share Posted June 19, 2009 BTL properties tend to be in worse condition, so perhaps an increase in BTL properties coming to market would push prices down after all. The thought of multitudes of houses, all with magnolia walls and dreary beige carpets throughout is quite depressing. Quote Link to comment Share on other sites More sharing options...
Garry AKA Pod Posted June 19, 2009 Share Posted June 19, 2009 I'm not worried and actually think it's a good thing. Less BTL means more tenants for me!! You're a turd. Quote Link to comment Share on other sites More sharing options...
LondonToManchester Posted June 19, 2009 Share Posted June 19, 2009 You're a turd. I know you are but what am I? Quote Link to comment Share on other sites More sharing options...
Slumpmonkey Returns Posted June 19, 2009 Share Posted June 19, 2009 I know you are but what am I? Oh, there you are! I thought we agreed to start our trolling with Hamish at 1pm. Where the hell is Valerius and Rinoa? I mean, for crying out loud - how are we going to convince new members and visitors to this site to buy our client's grossly inflated assets if we cannot keep to our agreements? We are supposed to work in a coordinated manner and spam this site at the same time! How are things at your branch by the way? Coventry's well slow today, still Dave is allowing me to spam this site until it's time to go home at 5pm. I was thinking the other day, it's all well and good trying to convince the sheep that a recovery is on the way but do you think it would be a better use of our time if we just encouraged our clients to reduce their asking prices a bit? Let me know what you reckon. Keep up the good work anyway. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted June 19, 2009 Share Posted June 19, 2009 I know you are but what am I? Ahhhhhhh Rizo . Quote Link to comment Share on other sites More sharing options...
eric pebble Posted June 19, 2009 Share Posted June 19, 2009 Ahhhhhhh Rizo . Yup -- I have repeatedly warned about how incredibly determined and organised the VIs are.... Quote Link to comment Share on other sites More sharing options...
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