The Masked Tulip Posted May 9, 2013 Share Posted May 9, 2013 Buy-to-let mini-boom runs out of steam but landlords dash to remortgage as rates fall While the number of buy-to-let mortgages being taken out has risen substantially since the 2009 to 2010 slump, they running at less than half the level seen at the peak of the boom in 2007.The CML said that almost half of buy-to-let lending was currently remortgages and property investors now accounted for 13.4 per cent of outstanding mortgages in the UK. CML director general Paul Smee said: ‘The buy-to-let mortgage market is performing well, against a backdrop of robust landlord - and tenant - demand for good quality rental property. ‘Loan performance compares favourably with the owner-occupier sector, and buy-to-let continues to grow as a proportion of the overall mortgage market.’ Read more: http://www.dailymail.co.uk/money/mortgageshome/article-2321932/Buy-let-mini-boom-runs-steam-landlords-dash-remortgage-rates-fall.html#ixzz2SnpXqtgn Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted May 9, 2013 Author Share Posted May 9, 2013 One in every eight pounds of mortgage lending this year has been on buy-to-let, new figures have shown, amid concerns that the Bank of England’s cheap credit scheme is being used to line landlords’ pockets. One in eight pounds lent to landlords Quote Link to comment Share on other sites More sharing options...
mrpleasant Posted May 9, 2013 Share Posted May 9, 2013 Lining landlords' pockets. Perpetually pricing the young out of home ownership. Repeatedly stoking the market and then claiming it's getting 'healthier'. And on and on. Things we know to be true, but after so many years on this site I've been forced to accept that no matter how completely and unarguably true something is to any sane observer, unless it changes policy and behaviour it's just so much p*ssing in the wind. Guess what kind of day I've had. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted May 10, 2013 Share Posted May 10, 2013 Bit misleading because as everyone "in the know" knows a BTL mortgage is the new 'self cert/interest only' deal with the so called landlord moving in himself. Another time bomb waiting to go off, which will be totally "unexpected" of course to regulators and politicians, but bleeding obvious to virtually everyone else. Quote Link to comment Share on other sites More sharing options...
winkie Posted May 10, 2013 Share Posted May 10, 2013 Bit misleading because as everyone "in the know" knows a BTL mortgage is the new 'self cert/interest only' deal with the so called landlord moving in himself. Another time bomb waiting to go off, which will be totally "unexpected" of course to regulators and politicians, but bleeding obvious to virtually everyone else. .....but, but that is the only way I can gather the money together to buy a place gov. Quote Link to comment Share on other sites More sharing options...
cashinmattress Posted May 10, 2013 Share Posted May 10, 2013 (edited) As with any investment tailored for the masses, the first folk into the game made the money. Everybody jumping into the fold now is making bets on a rigged game with best home for zero sum. Folk are betting on: Perpetual low interest rates Good tenancy and no missed payments Status quo on letting tax legislation and capital gains Banks playing fair No cuts to government benefits Good luck with that. I say the more the merrier. Three card monte. Edited May 10, 2013 by cashinmattress Quote Link to comment Share on other sites More sharing options...
Venger Posted June 26, 2013 Share Posted June 26, 2013 (edited) Folk are betting on: I'm getting to the point where I'm recognising average-joe landlords in new articles a year+ later. This from the Times last week, the preview part where there's a photo of him but doesn't say his name. Why do they keep posing to the press? Landlords look to the North for higher rental yields on buy-to-let propertiesDavid Prosser Published at 12:01AM, June 21 2013 http://www.thetimes....icle3796088.ece To this article from last year, half-way down. , a landlord who has ten properties in London and several in Nottingham, echoes Mark's advice. He established most of his portfolio before 2006. At that point he ceased buying until 2009 when the crisis had taken its toll on prices and when rents were starting to 'firm'. He then added two houses and two flats to his London portfolio, in the east and south-east of the capital. 'The housing market is so different around the country, and even within London,' says Richard, 45. 'In London's most desirable areas rental yields are three or four per cent, which is low, but that is because prices have been driven so high by foreign buyers.' In the areas where Richard invests, which are farther out but still offer easy access for professionals working in the centre, yields are about six per cent. http://www.dailymail...afe-houses.html That's partly my own fault for closely reading as much as I can about the market, but it's also because the papers have been swamping with landlord success stories past 2 years. With these smiling BTLers really getting heavily into the market. Fact that BTL mortgages have been running at 1/2 level of 2007 is still a lot of BTL mortgages, compared to residential mortgages. http://www.dailymail...tal-yields.html http://www.thisismon...operty-pay.html Edited June 26, 2013 by Venger Quote Link to comment Share on other sites More sharing options...
ticket2ride Posted June 27, 2013 Share Posted June 27, 2013 (edited) I'm getting to the point where I'm recognising average-joe landlords in new articles a year+ later. T http://www.dailymail...tal-yields.html http://www.thisismon...operty-pay.html Taken to whoring renting himself to increase his yield? (He should get together with f*** me shoes Bunce of eBay house buying fame.) Edited June 27, 2013 by ticket2ride Quote Link to comment Share on other sites More sharing options...
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