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Englebert

How Many Str's Sold Up To A Btl'er?

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And shouldn't you feel ashamed of yourself?

I don't think so. People make their choices for their own individual situation. The str and the btl are making a bet.

Question is - should you be able to get 10-20 houses as a btl just because you had some equity from another house? Again not the btl's fault the option is there.

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And shouldn't you feel ashamed of yourself?

I hope there are alot of STRs sho sold to BLTers because that means a STR has cashed in at the expense of said BLTer (who is now left with an overpriced rapidly depreciating asset).

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And shouldn't you feel ashamed of yourself?

Depends...

There's no shame in entering into voluntary contracts as one sees fit.

I can imagine some shame where, at some point, it is realised that they over-leveraged and greedily wasted an inheritance without benefiting from it.

The problem, as I see it, is with banks willing to lend vast sums for low rates because they can strong-arm savers with low rates - and, when even that doesn't work, borrow massively at near-zero cost from central banks. The problem is that mortgage lenders and institutional investors alike acted recklessly funding such folly ventures. I think those who claimed to be regulating banking should be ashamed - and that the west should take a long hard look at banking now it's clear it is no-longer a viable private business. We need to stop propping up the over-extended with cheap loans - we need to let the inherently bankrupt be declared so, even if we feel squeamish about the inevitable fallout. If we fail to do this, we buy ourselves widespread corruption and devastating failure in the long term. I feel sorry for those duped with artificially cheap and abundant credit... I feel sorry that they put effort into stupid business plans... I feel sorry that they may be wiped out by their follies... but I don't believe they should be baled-out... transferring the cost of their stupidity to others who didn't make their mistakes. It's harsh - but essential.

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When we STR'd in 2009 we sold to a religious sect. They were based in the north and wanted to 'spread the word' further south, so the leader guy and his wife bought ours in Cheltenham. They were odd, but perfectly nice. They keep the hedges nice, too. The first offer was from a pair of elderly lesbians but they were too slow.

Both sets of people would be better for the area than BTLers.

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Yes I sold to a buy to letter in 2007. Surely it was better to sell to a buy to letter than a first time buyer because at peak price they would have lost a fair bit of money and stuck in a small property with negative equity unable to trade up.

When it gets repossessed a first time buyer will get their chance to buy it at fair price.

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Yes I sold to a buy to letter in 2007. Surely it was better to sell to a buy to letter than a first time buyer because at peak price they would have lost a fair bit of money and stuck in a small property with negative equity unable to trade up.

When it gets repossessed a first time buyer will get their chance to buy it at fair price.

Absolutely, at peak price you did the right thing selling to a BTL'er. There's no better choice of person to be saddled with decades of negative equity.

I on the other hand did a shameful thing and sold in 2008 to a really lovely young couple who were FTB's. They came round for a second viewing and Channel 4 news was on the TV (basic error on my part), when the news went to a peice about the credit crunch and property gloom, I suggested we all go and quickly look at the garden. I know they still live there, probably because the flat's worth less than they paid for it. I really wish I'd sold to a BTL'er.

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  • 284 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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