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SarahBell

Rise In Limbo Landlords

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Have noticed recently a rise in the number of people on MSE who want to not sell their current home for a pitance whilst they buy a new one...

The Landlord Association seems to have coined a new phrase for it : Limbo landlords...

In the previous crash people got caught using bridging loans - is limbo landlordism the replacement for it?

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Have noticed recently a rise in the number of people on MSE who want to not sell their current home for a pitance whilst they buy a new one...

The Landlord Association seems to have coined a new phrase for it : Limbo landlords...

In the previous crash people got caught using bridging loans - is limbo landlordism the replacement for it?

They are unintended LL's. Some of them will catch a crab if rates rise back to 'normal'. There are plenty around renting houses not usually available.

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amazing that bankers will lend a second loan to what would be a BTL.

So your sellers 6 times salary loan becomes a 12 times salary loan ( probably a lot more as equity is not taken from the first place) all secured on what rent they might get plus the salary.

I really cant see any problems here.

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A friend of mine did it. Owned a flat...no chance of selling it so the agent talking him into becoming a landlord. Sorted out the mortgages ( via their mortgage advisor !!! ) and he moved.

The house he bought has turned out to be a crock and he's might b e about to loose his job. If his tenants go, or default on the rent, he is out on the streets losing everything.

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Have noticed recently a rise in the number of people on MSE who want to not sell their current home for a pitance whilst they buy a new one...

The Landlord Association seems to have coined a new phrase for it : Limbo landlords...

In the previous crash people got caught using bridging loans - is limbo landlordism the replacement for it?

It's called doubling down.

Usually the only positive to be found in the usual catastrophic outcome is that it happens quickly.

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  • 312 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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