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sponge

Btl Landlord Feeling The Pain Already

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From the horses mouth ooooo he's angry

"f##king bank" want to put new arangement fees on all his old loans total 28k he's owns btl rental buisness

his words "thier strangling us how can we make money"

all new loans 5% above base

Impacting fast I though and being a ftb in waiting thought fantastic his pain was my joy strange feeling that,

just thought I'd share

thank **** I found this Site have 40k saved I've worked 80hr weeks to amass

houses I like are finally in budget and dropping but li ain't buyin just yet not untill I can get that mortgage to a price were I could withstand high ir

hoc thanks for the education I once was a sheeple desperate for a house and nice place to bring up my daughter

had I rushed in yes a nice house but tears from my daughter when daddy can no longer pay the mortgage

most greatful

sponge

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From the horses mouth ooooo he's angry

"f##king bank" want to put new arangement fees on all his old loans total 28k he's owns btl rental buisness

his words "thier strangling us how can we make money"

all new loans 5% above base

Impacting fast I though and being a ftb in waiting thought fantastic his pain was my joy strange feeling that,

just thought I'd share

thank **** I found this Site have 40k saved I've worked 80hr weeks to amass

houses I like are finally in budget and dropping but li ain't buyin just yet not untill I can get that mortgage to a price were I could withstand high ir

hoc thanks for the education I once was a sheeple desperate for a house and nice place to bring up my daughter

had I rushed in yes a nice house but tears from my daughter when daddy can no longer pay the mortgage

most greatful

sponge

So glad you are prepared to wait. Patience is your best virtue and will be rewarded. The house of cards is in a light wind, but it is heading towards a storm. Renters will be very pleased in 18 months time when you see the mighty HPC.

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what? another 18 months? :blink: I thought it will start this autumn! U r having a laugh :angry: It reminds me sentence from the "Snatch" movie: TURKISH -What's happening with them sausages, Charlie? CHARLIE-Five minutes. TURKISH-It was two minutes five minutes ago. :lol:

Edited by LittleSteroid

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what? another 18 months?   :blink: I thought it will start this autumn! U r having a laugh  :angry: It reminds me sentence from the "Snatch" movie: TURKISH -What's happening with them sausages, Charlie? CHARLIE-Five minutes. TURKISH-It was two minutes five minutes ago.  :lol:

Yeah. But I was so much older then, I'm younger than that now...

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From the horses mouth ooooo he's angry

"f##king bank" want to put new arangement fees on all his old loans total 28k he's owns btl rental buisness

his words "thier strangling us how can we make money"

all new loans 5% above base

ten years ago

Bank: "Sir - how would you like to try this tasteful furry noose - it could make you millions"

Landlord: "how's that"

Bank: "Oh it lifts you up sir on the rising tide of property - up up and up"

Landlord: "Ok I'll have that and the deluxe gallows to go with it, and the same for the wife too."

Bank: "Excellent choice sir"

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Should you buy now or wait 18 months to save potentially 15k or so?

It all depends on everyone's individual circumstances. The fact is that whilst rates are this low, it might take another 10 years for property values to return to sensible (real terms) prices.

During which time, everyone needs somewhere to live and in the South East, there is still a problem with places to live.

Most people will either rent or be owner occupiers. Either way, a human has to live somewhere- accommodation will cost someone.

The best thing to do is what's best for you.

I know a couple (Dr and Pharmacist) who have been looking for a good house doe 2 years but the competition is fierce. They've had to leave the capital in search of good value.

The point is that there is no technically right time to buy, but just the right time for you.

If you can afford to buy do so. If not, do not.

?????

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Should you buy now or wait 18 months to save potentially 15k or so?

It all depends on everyone’s individual circumstances. The fact is that whilst rates are this low, it might take another 10 years for property values to return to sensible (real terms) prices.

During which time, everyone needs somewhere to live and in the South East, there is still a problem with places to live.

Most people will either rent or be owner occupiers. Either way, a human has to live somewhere- accommodation will cost someone.

The best thing to do is what’s best for you.

I know a couple (Dr and Pharmacist) who have been looking for a good house doe 2 years but the competition is fierce. They’ve had to leave the capital in search of good value.

The point is that there is no technically right time to buy, but just the right time for you.

If you can afford to buy do so. If not, do not.

:lol::blink: what the ....

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Yeah. But I was so much older then, I'm younger than that now...

We were younger and the days were long and slow, but were we wiser then, I couldn't say, I wouldn't know...

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From the horses mouth ooooo he's angry

"f##king bank" want to put new arangement fees on all his old loans total 28k he's owns btl rental buisness

his words "thier strangling us how can we make money"

all new loans 5% above base

I'm trying to get my head around this. I take it those "28k loans" aren't secured on his property, they're just personal loans.

If so I don't see how this affects his business, since rates are so low rental income far outweighs interest on properties.

5.5% above base on 28k is what about £140 a month ? Hardly sums to shame Croesus.

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Should you buy now or wait 18 months to save potentially 15k or so?

£15,000 is 10% of average UK house, in south east it's probably closer to 5%.

We've seen that drops of 20% in 18 months are possible, we can all see the state the country is in.

So the question should be "should we wait 18 months to save £30,000 - £60,000 with the possibility of further falls to come?".

Don't know about you but that's a lot of money for me, and I imagine for most other people.

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£15,000 is 10% of average UK house, in south east it's probably closer to 5%.

We've seen that drops of 20% in 18 months are possible, we can all see the state the country is in.

So the question should be "should we wait 18 months to save £30,000 - £60,000 with the possibility of further falls to come?".

Don't know about you but that's a lot of money for me, and I imagine for most other people.

Plus let's not forget that mortgages charge interest, often doubling the final cost of each £1 you borrow.

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ten years ago

Bank: "Sir - how would you like to try this tasteful furry noose - it could make you millions"

Landlord: "how's that"

Bank: "Oh it lifts you up sir on the rising tide of property - up up and up"

Landlord: "Ok I'll have that and the deluxe gallows to go with it, and the same for the wife too."

Bank: "Excellent choice sir"

If you stuck your head in that noose 10 years ago, you'd be doing rather well at the moment. If you stuck your head in that noose 5 years ago, well...

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If you stuck your head in that noose 10 years ago

not where I live you wouldn't in Leeds - done the sums over the period and pretty balanced overall buying vs renting over the whole period

having said that - I know plenty of let properties that have had tonnes of voids during the time and now are back at similar valuations, up with inflation only, to a decade ago, so a net loss based on the most basic accounting, and possibly quite a big one

still not understanding your point?

Edited by Si1

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not where I live you wouldn't in Leeds - done the sums over the period and pretty balanced overall buying vs renting over the whole period

having said that - I know plenty of let properties that have had tonnes of voids during the time and now are back at similar valuations, up with inflation only, to a decade ago, so a net loss based on the most basic accounting, and possibly quite a big one

still not understanding your point?

Leeds is a bit of a special case.

In London you would have made a killing over that period. Similarly in a lot of other places.

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  • 259 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%



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