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Ah-so

Btlers Are Philanthropists

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I almost choked on my toast this morning on reading this. Anne Ashworth, The Times' awful property correspondent, claims that the buy-to-let brigade are akin to philanthropists, helping priced out first time buyers. No links to the Times any more of course, so have provided a quote on the article about the unavailability of mortgages to all but the wealthy:

Meanwhile, it may be time for Mr and Mrs Esher [the type of people who own large houses in places like Esher, Surrey] to do their bit. The scarcity of home loans means that would-be first-time buyers are staying in rented accommodation for longer, which is driving up rents. This further constrains their availability to save for a deposits. The Eshers should invest some of that loot in buy-to-lets, providing more flats for rent and so indirectly helping others become owner occupiers. If this smacks of Victorian philanthropy, that is quite appropriate. For the current concentration of property wealth in the hands of a few is a phenomenon last seen in the 19th century.

In her mad view of the world, BTLers are givers, driving down rents, allowing FTBs to build up deposits. She does not consider the notion that there will be less property to buy and that FTB properties will be driven up in price. If the Eshers really want to follow in the footsteps of Victorian philanthropists, perhaps they could buy property and GIVE it away, rather than renting out property at a profit to those they have priced out.

That woman makes me sick.

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I almost choked on my toast this morning on reading this. Anne Ashworth, The Times' awful property correspondent, claims that the buy-to-let brigade are akin to philanthropists, helping priced out first time buyers. No links to the Times any more of course, so have provided a quote on the article about the unavailability of mortgages to all but the wealthy:

In her mad view of the world, BTLers are givers, driving down rents, allowing FTBs to build up deposits. She does not consider the notion that there will be less property to buy and that FTB properties will be driven up in price. If the Eshers really want to follow in the footsteps of Victorian philanthropists, perhaps they could buy property and GIVE it away, rather than renting out property at a profit to those they have priced out.

That woman makes me sick.

Ashworth = nut case.

How exactly do you help FTB's become occupiers by taking their rent for one of your BTL's?

Wouldn't it help them a tad more by not bidding against them when they try to buy a house?

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Maybe she believes her own b*llshit? In actual what would help FTB is if landlords all die of a horrible death tommorrow, and multiple home ownership heavily taxed.

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I disagree with you all - I think they ARE philanthropists - they re taking the hit on the capital costs , allowing FTB's to mop up after the mother of all crashes.

They just don't realise it yet.

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I disagree with you all - I think they ARE philanthropists - they re taking the hit on the capital costs , allowing FTB's to mop up after the mother of all crashes.

They just don't realise it yet.

Exactly! And when the crash has happened I'm planning on buying up a few bargain houses off the broke BTLers and renting them back to the former owners, because they'll never be able to buy again with their trashed credit ratings. How's that for philanthropy?!

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Mr and Mrs Esher could do their bit by turning their unused attic into a flat, thereby increasing the overall stock ...

(and to be fair, many do something like that, especially once the sprogs have moved out and they don't need so much space)

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Just as well this rubbish is behind a paywall now.

My sentiments entirely. I was a bit shocked when I realised that the Times was still in business actually.

Can anyone who still reads it tell me if Anatole Kaletsky is still alive and getting paid as well (to misquote Half Man Half Biscuit).

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I disagree with you all - I think they ARE philanthropists - they re taking the hit on the capital costs , allowing FTB's to mop up after the mother of all crashes.

They just don't realise it yet.

I was thinking that. I know of one BTL philanthropist subsidising his tennants, while topping up their rent with money out of his paycheck. He was hoping for 15 percent capital appreciation when he bought his one and only BTL in 2007. Ooops!

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I was thinking that. I know of one BTL philanthropist subsidising his tennants, while topping up their rent with money out of his paycheck. He was hoping for 15 percent capital appreciation when he bought his one and only BTL in 2007. Ooops!

don't worry - you and i, together with every other taxpayer, are going [almost] halves on his monthly shortfalls since they'll lower his earnings for income tax purposes.

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Yes yes complete delusion. Shouldn't people have a licence to spout drivel in public?

STFU B*tch!

Next we'll hear Hitler was a philanthropist because he was creating the ultimate genetic human race through ethinic cleansing. That's how much he cares for humanity. :blink:

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The BTL's keep expanding their portfolios until there are few real returns left. Alternatively there's little return over a risk free rate and in this environment BTL should be risky (wages rising below inflation, and high unemployment). If the risk free rate moves up well the BTL's will just jack up rates right ? :) .

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I think that if you build houses and let them, that might (at a stretch) be described as a public service, but I think the 'B' in 'BTL' stands for 'Buy', and then, quite literally, you are taking the p*ss.

B usually means Borrow.

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I disagree with you all - I think they ARE philanthropists - they re taking the hit on the capital costs , allowing FTB's to mop up after the mother of all crashes.

They just don't realise it yet.

YYYYYAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAASSSSSSSSS.

+1, please

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Like all the slaves who would have starved to death without the food provided by their owners.

I understand now how ordinary people can get caught up in atrocities. Normalisation is everything.

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don't worry - you and i, together with every other taxpayer, are going [almost] halves on his monthly shortfalls since they'll lower his earnings for income tax purposes.

No it won't.

It'll give him a tax loss to carry forward against future years' rental profits (as and when)

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It could be argued that philanthropy has got Britain into this mess. The British tolerance for illegal immigration and Eastern European immigration has created additional demand for housing. All the BTLers and amateur developers I know are in it for the cash. There's nothing altruistic or philanthropic about their motives. Many BTLers had their pensions shafted by Brown and were looking for a tangible asset which was out of the clutches of that moron. It's rather perverse that a developed country allows its people to bankrupt themselves over housing. There is some good news though. Mr and Mrs BTLer will have updated many of these properties, which will save the first-time buyers a lot of cash when they are resold after foreclosure.

Unfortunately Britons are getting what they deserve after allowing Blair and Brown to bankrupt a once great country. It isn't going to mend itself overnight, so either leave the country or buy a case of valium. :lol:

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Guest The Relaxation Suite

It could be argued that philanthropy has got Britain into this mess. The British tolerance for illegal immigration and Eastern European immigration has created additional demand for housing. All the BTLers and amateur developers I know are in it for the cash. There's nothing altruistic or philanthropic about their motives. Many BTLers had their pensions shafted by Brown and were looking for a tangible asset which was out of the clutches of that moron. It's rather perverse that a developed country allows its people to bankrupt themselves over housing. There is some good news though. Mr and Mrs BTLer will have updated many of these properties, which will save the first-time buyers a lot of cash when they are resold after foreclosure.

Unfortunately Britons are getting what they deserve after allowing Blair and Brown to bankrupt a once great country. It isn't going to mend itself overnight, so either leave the country or buy a case of valium. :lol:

Illegal immigration in Britain is child's play compared with the southern tide in the US. Now there's a problem stacking up for the future.

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Illegal immigration in Britain is child's play compared with the southern tide in the US. Now there's a problem stacking up for the future.

Only if Obama gives them all an amnesty and then I'll ask for my Greencard processing fee back!

America has room to grow. Britain is at capacity and at the mercy of generous welfare payments.

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  • 277 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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