Jump to content
House Price Crash Forum
Sign in to follow this  
Converted Lurker

It`s Not Big And It`s Not Clever

Recommended Posts

2003-2004, a BTL product doing the rounds. If you had, sorry if you could prove you had, roughly 100k equity in one home, or a mixture of cash and equity, you could have 1mil worth of BTL money to spread over 10 properties, many took up this opportunity and became property millionaires, or so they thought. Lots of this new money was spent up north on cheapish 100K properties in N`Castle, M`Boro, L`pool etc. Bought at the very peak a lot of these investors are, quite simply, stuffed. Rents not equalling payments, voids, repairs and replenishment costs, the equity all but vanished as the correction in prices has been a lot more severe than we are all led to believe.

No one worked hard to get on board these type of mortgage products, a little bit of money, similar to a little bit of knowledge, is always a dangerous thing. Any poster on here who bought post 2001, then continued to buy other properties on the back of that first property rising in value, has been mugged by snake oil salesmen.

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.

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.

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.