Orbital Posted September 2, 2009 Share Posted September 2, 2009 yikes, what a pickle. Quote Link to comment Share on other sites More sharing options...
Neverland Posted September 2, 2009 Share Posted September 2, 2009 Her tenants are DSS who she looks down on as scroungers!!!!!! ... and her rent comes from? She could be joining them soon anyway... Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted September 2, 2009 Share Posted September 2, 2009 ... and her rent comes from? She could be joining them soon anyway... Absolutely! She's subsidising their lives both through tax and directly! Hilarious. Do other people have the banner ad below with the two people boogieing next to a sign saying reduce your debt? Maybe we should post the link on MSE...... Quote Link to comment Share on other sites More sharing options...
Dave Spart Posted September 2, 2009 Share Posted September 2, 2009 This time next year Rodney........ we'll all be mewionaires. Quote Link to comment Share on other sites More sharing options...
zilly Posted September 2, 2009 Share Posted September 2, 2009 I thought BTL was supposed to be a winner? Everyone told me so and prices always go up and interest rates are low innit. LOL at starting a BTL portfolio before you even have a home for yourself!!! How many more out there like this. Link 'Just trying to make a better life for myself'. Indeed. A better life for her, based on profits from speculation in real estate, predicated on ever-increasing prices and without a jot of care for those priced out. I hope she feels the pain enough to never bother again. Interesting also to note the percentage hit she has taken on both places. Still, I s'pose they're both sh1tholes that only the desperate would ever want to inhabit. Worth 40K in two years' time. Shame. Quote Link to comment Share on other sites More sharing options...
grey shark Posted September 2, 2009 Share Posted September 2, 2009 I have two houses that I rent out - both in negative equity.1) House 1 bought three years ago for £125.000 - now valued at 95k. Mortgage 1 - £113,000, interest only. 2House 2 bought two years ago for £138,000 - now valued at 95k. Mortage on this one £124k, interest only. I pay about £250 each month to cover rent shortfall, because of agency fees. With insurance, sorting out problems boilers etc, never ending problems that I have to pay out for - I really am at my wits end. I NEED to get rid of them - I can't shift them, and I don't have enough savings to make up the shortfall, Now, I can afford to pay the difference out of my salary each month, but I am literally flushing money down the drain, as they are interest only mortgages. I want to save up for my own place, I know I made a massive mistake buying them at the wrong time, but I just can't face years of paying interest on them 'hoping and waiting' for them to go up in value. safe to say she didn't see it coming , I bet 2 years ago she really fancied herself as 'property invester'....and now , today fully exposed as a amateur and mug. Quote Link to comment Share on other sites More sharing options...
Si1 Posted September 2, 2009 Share Posted September 2, 2009 safe to say she didn't see it coming , I bet 2 years ago she really fancied herself as 'property invester'....and now , today fully exposed as a amateur and mug. you mean 'pwoperdie inwestooooooor - and better than yow' get it right Quote Link to comment Share on other sites More sharing options...
Little Professor Posted September 2, 2009 Share Posted September 2, 2009 Thread last year from the same girl: Can't sell, feel sick My house has been up for sale for 3 months now. Reduced from £140,000 to £120,000 it just won't shift.It has tenants in it and they are lovely, but I've had no viewings, I really don't know what to do, no viewings. it's on with 2 agents and I'm selling it for less than I apid for it three years ago. It's not the most modern house in the world and could do with a new kitchen etc but I can't afford to do that and have reduced the price accordingly. My mortgage payments have gone up to SVR £236 increase a month (which isn't covered by the tenants) and I can't re-mortgage cos then I'll be tied in to another fixed rate. I am paying £689 in mortgage payments a month and stupidly have come off a 2 year fixed rate on interest only, so i've paid NOTHING off the house, since I bought it two years ago.I might as well flush the money down the toilet. My tenants rent isn't covering the mortgage so i'm having to put £189 from my salary each month for the interest only payments. On top of that, boiler is broken and I am hoping and praying that nothing else goes wrong. I'm at my wits ends guys. Its awful, my heart goes out to anyone else in the same situation Quote Link to comment Share on other sites More sharing options...
codeine Posted September 2, 2009 Share Posted September 2, 2009 Another casualty of the BBC's ramping "you can't lose with property" programs. Quote Link to comment Share on other sites More sharing options...
roy? Posted September 2, 2009 Share Posted September 2, 2009 Why do people enjoy watching other people suffer? Is it only in this country where misfortune and hard times are embraced? This individual has tried to make a commercial decision and make some profit. He/she has attempted to invest in something tangible and long-term. They have not murdered anyone or committed a crime. They merely invested in something. Granted, the timing has been unlucky but why demonize and sneer from a distance? It troubles me to see that someone struggling can be the subject of ridicule. I do not understand why there is such vitriol and hostility towards those who have purchased as investment so as to prepare for their futures. If those of you who are waiting for prices to collapse to the extent that you buy, would you then be dissatisfied if prices rocketed? Would you refuse the proceeds of sale on principle? Quote Link to comment Share on other sites More sharing options...
codeine Posted September 2, 2009 Share Posted September 2, 2009 If I bought, I wouldn't give a shit if prices rose or fell - I'd have an affordable house, which I would use to live in. That's all I care about. All I want is a house, without getting into a lifetime of heavy debt. Of course, the Bulls here don't care two tosses if people are subscribed to a lifetime of 60+ workweeks just to pay for a shitty 2bed terrace. People who ruin their own lives trying to speculate in homes, causing vast numbers of young people hardship via hugely inflated prices, get no sympathy from me. While I don't laugh at her misfortune, I offer no shoulder to cry on. She dug her own grave. I'm sure back when the Tulip bubble was at it's peak, nobody was heartbroken for the "investor" who put all of his wealth into Tulips at the peak of the bubble. (I'd have gone into a certain kind of poppy, myself...) Quote Link to comment Share on other sites More sharing options...
Frank Hovis Posted September 2, 2009 Share Posted September 2, 2009 Why do people enjoy watching other people suffer? Is it only in this country where misfortune and hard times are embraced?This individual has tried to make a commercial decision and make some profit. He/she has attempted to invest in something tangible and long-term. They have not murdered anyone or committed a crime. They merely invested in something. Granted, the timing has been unlucky but why demonize and sneer from a distance? It troubles me to see that someone struggling can be the subject of ridicule. I do not understand why there is such vitriol and hostility towards those who have purchased as investment so as to prepare for their futures. If those of you who are waiting for prices to collapse to the extent that you buy, would you then be dissatisfied if prices rocketed? Would you refuse the proceeds of sale on principle? She has gambled and lost she they could not afford to lose. I have lost 90% of my investment on shares in two companies, but it was money I could afford to lose. I didn't bellyache on a public forum about my loss. It was my fault, I could have sold out on the way down but didn't. My fault, I lost the money, no appeal for sympathy or "what should I do?". I am an adult, oh dear I lost, how sad, never mind. She gambled, she lost. And she was part of the property bubble that meant many could not afford to buy. No sympathy whatsoever. Quote Link to comment Share on other sites More sharing options...
SNACR Posted September 2, 2009 Share Posted September 2, 2009 Why do people enjoy watching other people suffer? Is it only in this country where misfortune and hard times are embraced?This individual has tried to make a commercial decision and make some profit. He/she has attempted to invest in something tangible and long-term. They have not murdered anyone or committed a crime. They merely invested in something. Granted, the timing has been unlucky but why demonize and sneer from a distance? It troubles me to see that someone struggling can be the subject of ridicule. I do not understand why there is such vitriol and hostility towards those who have purchased as investment so as to prepare for their futures. If those of you who are waiting for prices to collapse to the extent that you buy, would you then be dissatisfied if prices rocketed? Would you refuse the proceeds of sale on principle? Because she it's get-rich-quick spivvery. There's no dream other than being rich for being rich's sake. Just slightly further up the tree from the Big Brother twerp contestant that wants to be a celebrity for the sake of being a celebrity. I have no special feeling of ill-will towards them but they must not be allowed to just hand the keys back and should swallow the medicine of aan IVA or bankruptcy the same as anyone who starts a restaurant, pub or other business that doesn't pan out (which incidentally is much more laudable). Quote Link to comment Share on other sites More sharing options...
Authoritarian Posted September 2, 2009 Share Posted September 2, 2009 Why do people enjoy watching other people suffer? Is it only in this country where misfortune and hard times are embraced?This individual has tried to make a commercial decision and make some profit. He/she has attempted to invest in something tangible and long-term. They have not murdered anyone or committed a crime. They merely invested in something. Granted, the timing has been unlucky but why demonize and sneer from a distance? It troubles me to see that someone struggling can be the subject of ridicule. I do not understand why there is such vitriol and hostility towards those who have purchased as investment so as to prepare for their futures. If those of you who are waiting for prices to collapse to the extent that you buy, would you then be dissatisfied if prices rocketed? Would you refuse the proceeds of sale on principle? Its very simple, some people want to force costs onto others though house price rises and those on the receiving end want to see their landlords get ripped apart financially. The relationship is based on financial abuse to don't expect to see renters shed a tear when their masters go bankrupt. Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted September 2, 2009 Share Posted September 2, 2009 Why do people enjoy watching other people suffer? Is it only in this country where misfortune and hard times are embraced?This individual has tried to make a commercial decision and make some profit. He/she has attempted to invest in something tangible and long-term. They have not murdered anyone or committed a crime. They merely invested in something. Granted, the timing has been unlucky but why demonize and sneer from a distance? It troubles me to see that someone struggling can be the subject of ridicule. I do not understand why there is such vitriol and hostility towards those who have purchased as investment so as to prepare for their futures. If those of you who are waiting for prices to collapse to the extent that you buy, would you then be dissatisfied if prices rocketed? Would you refuse the proceeds of sale on principle? get out of here, this could hardly be called a reasonable, sensible investment. She has no assets herself so decides to take a punt on the most highly leveraged asset she was able to get her hands on at the top of a market where proverbial shoe shine boys were telling everyone to get into it, and not content to be a bit of a feckwit, she actually managed to do it twice. And her first idea on a solution is to pass it to the taxpayer via default in all likeliness, and to top it all off she works in finance. I mean give me strength Quote Link to comment Share on other sites More sharing options...
codeine Posted September 2, 2009 Share Posted September 2, 2009 (edited) I am actually tempted to post a link to this thread on that MSE thread, just for her reading pleasure. Might open her eyes a bit unless this hurts as much as possible for her, there is a risk of her doing it again in the next asset bubble is that allowed? Edited September 2, 2009 by codeine Quote Link to comment Share on other sites More sharing options...
Oh Dear Posted September 2, 2009 Share Posted September 2, 2009 What is more staggering is that someone lent the money to buy the houses in the first place. Quote Link to comment Share on other sites More sharing options...
scottbeard Posted September 2, 2009 Share Posted September 2, 2009 What is more staggering is that someone lent the money to buy the houses in the first place. Absolutely. The reason I do have some sympathy for people who bought at the peak on 5x mortgages (at least who bought to live in rather than BTL) is that there is some kind of logic that "it must be OK if they give me the money". When I buy a car, a medicine or a TV from a reputable source (like Honda, GSK or Sony) I assume from the brand name that it's going to work. But these people got loans from institutions like Halifax, Bradford & Bingley, Northern Rock which in 2006 were top brands - and yet they turned out to be dangerous. We can't all be experts in everything, sometimes you have to put your trust in others, be they a car-maker, a doctor or a banker. The public have been let down by the mortgage lenders. Quote Link to comment Share on other sites More sharing options...
SNACR Posted September 2, 2009 Share Posted September 2, 2009 Absolutely.The reason I do have some sympathy for people who bought at the peak on 5x mortgages (at least who bought to live in rather than BTL) is that there is some kind of logic that "it must be OK if they give me the money". When I buy a car, a medicine or a TV from a reputable source (like Honda, GSK or Sony) I assume from the brand name that it's going to work. But these people got loans from institutions like Halifax, Bradford & Bingley, Northern Rock which in 2006 were top brands - and yet they turned out to be dangerous. We can't all be experts in everything, sometimes you have to put your trust in others, be they a car-maker, a doctor or a banker. The public have been let down by the mortgage lenders. There's certainly some culpability amongst surveyors and valuers and it is true to say the lenders must have believed the investment was safe when they originated the loan. Quote Link to comment Share on other sites More sharing options...
marmite Posted September 2, 2009 Share Posted September 2, 2009 HUGGZZZZ will make it all better Quote Link to comment Share on other sites More sharing options...
Oh Dear Posted September 2, 2009 Share Posted September 2, 2009 Absolutely. The conversation should go like this. Bank: Hello Investor: I would like to invest in property. Can you lend me some money to do so? Bank: How do you plan to repay the money? Investor: Repay! No idea. Bank: Goodbye. Quote Link to comment Share on other sites More sharing options...
Stars Posted September 2, 2009 Share Posted September 2, 2009 Why do people enjoy watching other people suffer? Is it only in this country where misfortune and hard times are embraced?This individual has tried to make a commercial decision and make some profit. He/she has attempted to invest in something tangible and long-term. I have a certain sympathy with anyone finding they hold losses because of the property market and that includes the millions of productive people who found themselves systematically gouged by an economy which had pathologically over-ballanced so that all productive surpluses ended up in the price of real estate. However the fact that dilutes my sympathy here is that those presently who climb aboard real estate to make profits are trying to make profits by increasing scarcity (raising costs) for others Quote Link to comment Share on other sites More sharing options...
Cygnus Alpha Posted September 2, 2009 Share Posted September 2, 2009 Why do people enjoy watching other people suffer? Is it only in this country where misfortune and hard times are embraced?This individual has tried to make a commercial decision and make some profit. He/she has attempted to invest in something tangible and long-term. They have not murdered anyone or committed a crime. They merely invested in something. Granted, the timing has been unlucky but why demonize and sneer from a distance? It troubles me to see that someone struggling can be the subject of ridicule. I do not understand why there is such vitriol and hostility towards those who have purchased as investment so as to prepare for their futures. If those of you who are waiting for prices to collapse to the extent that you buy, would you then be dissatisfied if prices rocketed? Would you refuse the proceeds of sale on principle? You gotta admit, it is bloody funny. Quote Link to comment Share on other sites More sharing options...
SNACR Posted September 2, 2009 Share Posted September 2, 2009 You gotta admit, it is bloody funny. I've got a mental image of a woman about as bright as Konnie Huq - not that I wouldn't. Quote Link to comment Share on other sites More sharing options...
athom Posted September 2, 2009 Share Posted September 2, 2009 Absolutely. The conversation should go like this.Bank: Hello Investor: I would like to invest in property. Can you lend me some money to do so? Bank: How do you plan to repay the money? Investor: Repay! No idea. Bank: Goodbye. Exactly. The rent doesn't even cover the interest No sympathy. Although someone so stupid might deserve some sympathy on medical grounds Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.