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Ripped Off Britain Cartoon In The Guardian

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http://www.guardian.co.uk/money/cartoon/2011/feb/23/buy-to-let-mortgage

Excerpt from buy-to-let landlord:

'But house prices have started to fall. Mortgage approvals have slumped. The buy-to-let market is our great nation's only chance of keeping property prices up.'

'…and keeping others off the property ladder so they can pay me rent.'

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http://www.guardian....to-let-mortgage

Excerpt from buy-to-let landlord:

'But house prices have started to fall. Mortgage approvals have slumped. The buy-to-let market is our great nation's only chance of keeping property prices up.'

'…and keeping others off the property ladder so they can pay me rent.'

Good cartoon! I work with some 20 something graduates that are trying to find places to rent in Sheffield. Looks like £500 - £550 is the norm for pokey 1 bed flats within walking distance of the centre. They are getting screwed by BTL. Although I appreciate that flat prices in London are a lot higher before anyone regales me with stories of £1,200pm for a damp flat in cracktown.

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I feel quite strongly that one of the major causes of HPI apart from easy money and low interest rates is how easy it was for people to buy property to rent out...little collateral, deposits made up with borrowed money, equity withdrawn from equity....poor regulation, tax offsets and tax breaks....to top it all there is no rental regulation, they can basically charge what they think they can get.....who are the losers in all this? the venerable wannabe first time buyers that got their potential first time buyers property stolen from them by the buy-to-leters. :ph34r:

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I feel quite strongly that one of the major causes of HPI apart from easy money and low interest rates is how easy it was for people to buy property to rent out...little collateral, deposits made up with borrowed money, equity withdrawn from equity....poor regulation, tax offsets and tax breaks....to top it all there is no rental regulation, they can basically charge what they think they can get.....who are the losers in all this? the venerable wannabe first time buyers that got their potential first time buyers property stolen from them by the buy-to-leters. :ph34r:

Don't be too quick to judge. When this whole house of cards (or should that be house of houses?) collapses and everyone is sick of property as an investment and won't touch it, then there will be ample opportunity for those of us sensible enough to steer clear of the bull to move in and mop up some nice rental properties for some easy yield.

One day soon the boot will be on the other foot, so don't wish for draconian legislation against landlords just yet.

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Don't be too quick to judge. When this whole house of cards (or should that be house of houses?) collapses and everyone is sick of property as an investment and won't touch it, then there will be ample opportunity for those of us sensible enough to steer clear of the bull to move in and mop up some nice rental properties for some easy yield.

One day soon the boot will be on the other foot, so don't wish for draconian legislation against landlords just yet.

Why would I want to mop up a rental property, if I had wanted to do that I could have done so in 1997. The banks were throwing money at people...could of snapped up a two bed maisonette in N12 for £100k the same flats are in the region of £240k THAT IS A TWO BED FLAT!!!!!!!!

Was Maggie's constituency.....how can a 1st time buyer buy at that price without help.....by the time they have saved the deposit...either inflation will have eroded it or they would have given up trying......the rents are £1000 per month BTW..........the only people buying now are the rich foreigners taking advantage of the tanking pound or those with money and rich family behind them....how things have changed. :angry:

Me I have left the area....IMO has been going down hill gradually over the years....no looking back, only glad I was born then and not now....talk about social mobility...you are having a laugh. :lol:

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http://www.guardian.co.uk/money/cartoon/2011/feb/23/buy-to-let-mortgage

Excerpt from buy-to-let landlord:

'But house prices have started to fall. Mortgage approvals have slumped. The buy-to-let market is our great nation's only chance of keeping property prices up.'

'…and keeping others off the property ladder so they can pay me rent.'

The BTL brigade are the few that will save our nation.

Never will have so much been owed by so many because of the actions of so few.

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Was this truth too inconvenient for the Guardian to print when Labour were in power? Or were the champagne socialists in Islington making too much money from their own portfolios to give a damn?

Edited by Orsino

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Interesting to see a blast from the past as a related link:

Buy-to-let lender predicts crisis will be shortlived

18 Sep 2007

11.15am: Paragon, the UK mortgage firm that lends to buy-to-let landlords, predicted this morning that the crisis in the credit market will ease before the end of the year. By Graeme Wearden.

Good to see they knew what they were talking about. Didn't they have to shut up shop for a while?

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The BTL brigade are the few that will save our nation.

Never will have so much been owed by so many because of the actions of so few.

:D

I like that.

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  • 285 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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