Jump to content
House Price Crash Forum
Sign in to follow this  
FrozenOut

Bradford And Bingley

Recommended Posts

Guest Bart of Darkness

Well, time to disband the site methinks. It has served its purpose and won't be needed any more.

(as we're not allowed to swear anymore, please use your imagination to fill in the blanks)

Through the trough my ______. What a ______ load of lying ______!

:angry:

Share this post


Link to post
Share on other sites
Guest tenant super
socially irresponsible.

George it might backfire! B&B were identified as being heavily susceptible to bad debts. I wonder if the credit junkies on their books pick this up as a signal to plough further into the mire.

Also explains exactly why they are prepared to talk out of their posterior.

Share this post


Link to post
Share on other sites
Through the trough!

Thank god, I'm off down my local estate agents, after all house prices only ever go up!  :lol:

Their customers with mortgage arrears has increased by 42% in the last year, that'll teach'em for baseing most of their portfolio on stupid BTLers and selfcerts.

Edited by Dicky

Share this post


Link to post
Share on other sites

over the trough my a**e!!!

....how often have you been on a rollercoaster,going over a small dip and then a bit of a slight bounce,only to find that was priming you for the big dipper around the next bend??

....well this is exactly the same,from the ground it doesnt look too bad,but from the screams of the people going down it you know it must be quite scary...but you have to be in on the action to really get the fear-juices flowing!!!....we can just watch everyone on the ride from a very safe distance...get the lay of the land and then jump on the next available ride(someone didn't tell these guys there was plenty of time to get off before the top,but we know better!)

Share this post


Link to post
Share on other sites

The Times' coverage of B&B's results today was very interesting.

It showed how repossessions had leapt (admittedly from a low level).

But far more importantly was the way B&B responded - it essentially said that it had seen a big jump in repossessions because of more BTL LANDLORDS getting into trouble and said it was much easier/less of an issue to repossess from landlords - since it s not somebody's home they are taking away (B&B argue the tenant just rents from whoever they sell the repo to).

This is the first clear, irrefutable evidence I've seen that there IS an issue of increasing numbers of BTL landlords in trouble and, more importantly, quite how the lenders might feel about dealing with them - it is a business, no personal consideration should be given.

It also said its new business had plunged because it hadn't taking the risk of lending like it did before (heavily to BTLs, self-certs etc) in these market conditions. Again, a clear and irrefutable example of credit tightening... as has been predicted on this site.

Share this post


Link to post
Share on other sites
The Times' coverage of B&B's results today was very interesting.

It showed how repossessions had leapt (admittedly from a low level).

But far more importantly was the way B&B responded - it essentially said that it had seen a big jump in repossessions because of more BTL LANDLORDS getting into trouble and said it was much easier/less of an issue to repossess from landlords - since it s not somebody's home they are taking away (B&B argue the tenant just rents from whoever they sell the repo to).

This is the first clear, irrefutable evidence I've seen that there IS an issue of increasing numbers of BTL landlords in trouble and, more importantly, quite how the lenders might feel about dealing with them - it is a business, no personal consideration should be given.

It also said its new business had plunged because it hadn't taking the risk of lending like it did before (heavily to BTLs, self-certs etc) in these market conditions. Again, a clear and irrefutable example of credit tightening... as has been predicted on this site.

http://business.timesonline.co.uk/article/...1728875,00.html

TTRTR

Not with them i hope...

She said that repossessing buy-to-let properties was easier and quicker than homes of owner-occupiers because tenants generally stayed in place. “You’re not throwing people out on the street,” she said

Share this post


Link to post
Share on other sites
It also said its new business had plunged because it hadn't taking the risk of lending like it did before (heavily to BTLs, self-certs etc) in these market conditions. Again, a clear and irrefutable example of credit tightening... as has been predicted on this site.

Good because whilst not wanting to sound bitter, I'm looking forward to buying a flat at auction that was owned by some BTL fecker for a fraction of what they paid for it ;)

Share this post


Link to post
Share on other sites

Thanks Chuz,

It says they repossessed about 120 BTL properties in the first half of 2005... I guess it is not all entirely rosy in BTL land then.

I wonder if that's 120 people's pension plan pizzed down the drain?

Share this post


Link to post
Share on other sites
Thanks Chuz,

It says they repossessed about 120 BTL properties in the first half of 2005... I guess it is not all entirely rosy in BTL land then.

I wonder if that's 120 people's pension plan pizzed down the drain?

Hi,

And since you've got a copy of the times there today, please look at the today's cartoon on the comments pages. The one of John Prescot made up like a clown with bananna skins and soap bars on the floor. It did make me laugh out loudly on the bus this morning into W.End. I had just finished reading the articles on his prefab houses iniative, that's it John, let's pack our youngsters into ready built Guantanamo Bay complexes! But I reckon he already knows what's coming, that the plan is deliberately ludicrous because when the BTL's renegade on all their B&B mortgages, it will be easier to go off to the auctions instead and so he will never have to get his Tenko huts off the drawing room tables.

BTW, can we get the HPC animation on mobile phones? I'm getting a bit weiry of the crazy frog. :rolleyes:

Cheers

Share this post


Link to post
Share on other sites

I also like the FT's closing comment today:

The investment case [for B&B's shares] depends entirely on one's wider view of risk and return in the buy-to-let market.

The market gave its view... and sent the shares down a little over 3.5% on a day when the wider market rose by 0.35%.

:lol:

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.