John The Pessimist Posted May 15, 2014 Share Posted May 15, 2014 http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/10832848/Lending-to-landlords-up-69pc-in-a-year.html Quote Link to comment Share on other sites More sharing options...
Billy soy Posted May 15, 2014 Share Posted May 15, 2014 What a surprise. No restrictions on the rentier speculators, might hurt re election hopes. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted May 15, 2014 Share Posted May 15, 2014 It's a good job people aren't allowed to spunk a pension lump sum on a BTL deposit... Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted May 15, 2014 Share Posted May 15, 2014 It's a good job people aren't allowed to spunk a pension lump sum on a BTL deposit... Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted May 15, 2014 Share Posted May 15, 2014 I will have an even bigger smile as the price falls continue. 2 months, of falls - let's make it a quarter. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted May 15, 2014 Share Posted May 15, 2014 I will have an even bigger smile as the price falls continue. 2 months, of falls - let's make it a quarter. let's make it a decade, Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted May 15, 2014 Share Posted May 15, 2014 36% of purchases in last 12 months were cash buyers too. Quote Link to comment Share on other sites More sharing options...
shindigger Posted May 15, 2014 Share Posted May 15, 2014 36% of purchases in last 12 months were cash buyers too. At least they won't be coming cap in hand when it all goes to tits down the road. Well, not in such an obvious way, anyway. Quote Link to comment Share on other sites More sharing options...
Steppenpig Posted May 15, 2014 Share Posted May 15, 2014 let's make it a decade, let's make it a generation. Quote Link to comment Share on other sites More sharing options...
slacker Posted May 15, 2014 Share Posted May 15, 2014 There is no need to be so venomous. Many regular people who have had an unexpected gain have put it straight in to a property as they would have been earning negative interest in a bank - and society has conditioned last couple of generations house prices always go up (London going up £700 a day on avg at moment I see today). You may feel like a victim now - but hoping someone else becomes a victim later serves no purpose. It's like boroughs that alternate between Labour and Tory and neglect each others roads/parks when they get in. Nobody wins. The real problem is that for regular folk there are usually no easy/safe ways to save above inflation, invest in a guaranteed pension or buy a family home. It's all a gamble where there are winners/losers, and not a +/-5% gamble - you gamble most of what you're going to earn over your life. Regular working folk should not have to deep research and ultimately take a complete flyer when it comes to basic financial commitments. We've got endless regulations/interference on driving or eating but absolutely nothing when it comes putting a roof over your head or saving for retirement. Many of these people, whilst making the problem worse right now, don't really have a choice - and will likely lose most of the windfall if they bought within 2 years of a crash - or worse lose 5 years of savings. Quote Link to comment Share on other sites More sharing options...
Quicken Posted May 15, 2014 Share Posted May 15, 2014 Despite its rapid growth, the volume of lending to landlords remains far lower than its pre-crisis peak in 2006 and 2007 Only about half the 2007 level. Meh You may feel like a victim now - but hoping someone else becomes a victim later serves no purpose. It's like boroughs that alternate between Labour and Tory and neglect each others roads/parks when they get in. Nobody wins. I want prices to fall. I think high prices damage both the economy in general and me personally. When prices fall or rise, some win and some lose. To say nobody wins is nonsense. Many of these people, whilst making the problem worse right now, don't really have a choice Rubbish. There are no house buying press gangs, yet. Quote Link to comment Share on other sites More sharing options...
slacker Posted May 15, 2014 Share Posted May 15, 2014 (edited) deleted as don't fancy arguing on a sunny afternoon like today. Edited May 15, 2014 by slacker Quote Link to comment Share on other sites More sharing options...
rh2409 Posted May 15, 2014 Share Posted May 15, 2014 There is no need to be so venomous. Many regular people who have had an unexpected gain have put it straight in to a property as they would have been earning negative interest in a bank - and society has conditioned last couple of generations house prices always go up (London going up £700 a day on avg at moment I see today). You may feel like a victim now - but hoping someone else becomes a victim later serves no purpose. It's like boroughs that alternate between Labour and Tory and neglect each others roads/parks when they get in. Nobody wins. The real problem is that for regular folk there are usually no easy/safe ways to save above inflation, invest in a guaranteed pension or buy a family home. It's all a gamble where there are winners/losers, and not a +/-5% gamble - you gamble most of what you're going to earn over your life. Regular working folk should not have to deep research and ultimately take a complete flyer when it comes to basic financial commitments. We've got endless regulations/interference on driving or eating but absolutely nothing when it comes putting a roof over your head or saving for retirement. Many of these people, whilst making the problem worse right now, don't really have a choice - and will likely lose most of the windfall if they bought within 2 years of a crash - or worse lose 5 years of savings. Ooo...you are soooo in trouble, the HPC nasty brigade are going to eat you alive and try and get you banned!!! I agree with you myself, property prices are stupidly high but that will only be solved by building more houses, getting a handle on immigration and reform of legislation relating to rental. Whilst such things are not done any fall in property prices will be shallow and short lived as in a falling market the BTL brigade will simply move into to buy what they percieve as "bargains" so that they can further exploit those unable to buy. Wishing misfortune on others is absolutlely not going to cause house prices to fall. Because a little bit of Everything is always good... http://www.itsarandomworld.com/2014/03/07/ Quote Link to comment Share on other sites More sharing options...
Quicken Posted May 15, 2014 Share Posted May 15, 2014 property prices are stupidly high but that will only be solved by building more houses, getting a handle on immigration and reform of legislation relating to rental. I disagree. Interest rate rises and general tightening of credit conditions (back towards sane levels) would do the trick. Quote Link to comment Share on other sites More sharing options...
slacker Posted May 15, 2014 Share Posted May 15, 2014 I disagree. Interest rate rises and general tightening of credit conditions (back towards sane levels) would do the trick. It doesn't change the fact that it's a gamble, all it does is move the probability of a good outcome more in favour of those looking to get in to the game. The problem is structural. High BTL ownership is mostly a symptom of a dysfunctional savings market. I've seen friends blow all of an inheritance on a BTL days after getting it - they considered no other options. Years ago people would have banked it and supplemented their income with the interest, paid of their own mortgage or they would have started a small business. You don't hear people doing any of those options now. Quote Link to comment Share on other sites More sharing options...
rh2409 Posted May 15, 2014 Share Posted May 15, 2014 It doesn't change the fact that it's a gamble, all it does is move the probability of a good outcome more in favour of those looking to get in to the game. The problem is structural. High BTL ownership is mostly a symptom of a dysfunctional savings market. I've seen friends blow all of an inheritance on a BTL days after getting it - they considered no other options. Years ago people would have banked it and supplemented their income with the interest, paid of their own mortgage or they would have started a small business. You don't hear people doing any of those options now. Exactly. Housing has become a commodity, an investment class: only fundamental reform and massive housebuilding will lead to sustained and sustainable falls in house prices. Because a little bit of Everything is always Good.... http://www.itsarandomworld.com Quote Link to comment Share on other sites More sharing options...
@contradevian Posted May 15, 2014 Share Posted May 15, 2014 (edited) Doubt these are entirely landlords. BTL mortgages are the new 'sub prime.' Pro landlords would buy on a pullback on price, not at a peak. Edited May 15, 2014 by aSecureTenant Quote Link to comment Share on other sites More sharing options...
Billy Ray Valentine Posted May 15, 2014 Share Posted May 15, 2014 Ooo...you are soooo in trouble, the HPC nasty brigade are going to eat you alive and try and get you banned!!! I agree with you myself, property prices are stupidly high but that will only be solved by building more houses, getting a handle on immigration and reform of legislation relating to rental. Whilst such things are not done any fall in property prices will be shallow and short lived as in a falling market the BTL brigade will simply move into to buy what they percieve as "bargains" so that they can further exploit those unable to buy. Wishing misfortune on others is absolutlely not going to cause house prices to fall. Because a little bit of Everything is always good... http://www.itsarandomworld.com/2014/03/07/ Did the BTL brigade jump in and snap up houses when prices fell by more than 20% in a relatively short period of time when this bubble originally burst? Didn't seem like that round my way. Prices only stabilised due massive Government intervention. When prices start drifting down it's more likely to be BTL landlords jumping ship accelerating the falls rather than the other round. I don't see many people on this site specifically wishing 'misfortune on others' either. Some a bit short on sympathy perhaps, but that is not the same thing at all. Quote Link to comment Share on other sites More sharing options...
Billy Ray Valentine Posted May 15, 2014 Share Posted May 15, 2014 I disagree. Interest rate rises and general tightening of credit conditions (back towards sane levels) would do the trick. The conditions for this have now pretty much fallen into place, too. Quote Link to comment Share on other sites More sharing options...
Billy Ray Valentine Posted May 15, 2014 Share Posted May 15, 2014 It doesn't change the fact that it's a gamble, all it does is move the probability of a good outcome more in favour of those looking to get in to the game. The problem is structural. High BTL ownership is mostly a symptom of a dysfunctional savings market. I've seen friends blow all of an inheritance on a BTL days after getting it - they considered no other options. Years ago people would have banked it and supplemented their income with the interest, paid of their own mortgage or they would have started a small business. You don't hear people doing any of those options now. Do you know most of the people in the UK who receive an inheritance then, and what they do with the money? I've seen friends receive an inheritance and use it to pay off mortgage debt, squirrel money away, start small businesses, or just spend it on having fun. Don't know any who stuck it into BTL. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted May 15, 2014 Share Posted May 15, 2014 snip snip Wishing misfortune on others is absolutlely not going to cause house prices to fall. Because a little bit of Everything is always good... http://www.itsarandomworld.com/2014/03/07/ so, predicting a bubble top, helping to point out to investors that things can go wrong, is WISHING it?. Like pointing out exponentials exist...ponzis exist, is actually wishing them to exist. I guess maths is wishing. Quote Link to comment Share on other sites More sharing options...
rh2409 Posted May 15, 2014 Share Posted May 15, 2014 so, predicting a bubble top, helping to point out to investors that things can go wrong, is WISHING it?. Like pointing out exponentials exist...ponzis exist, is actually wishing them to exist. I guess maths is wishing. You assume you're right, you might not have taken all into account. You could be wrong. Because a little bit of Everything is always good... http://www.itsarando...com/2014/03/07/ Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted May 15, 2014 Share Posted May 15, 2014 You assume you're right, you might not have taken all into account. You could be wrong. Because a little bit of Everything is always good... http://www.itsarando...com/2014/03/07/ im quoting you troll boy. Im assuming you are full of it though. Quote Link to comment Share on other sites More sharing options...
shindigger Posted May 15, 2014 Share Posted May 15, 2014 im quoting you troll boy. Im assuming you are full of it though. Ding Ding. Ah, there's the towel. Quote Link to comment Share on other sites More sharing options...
rh2409 Posted May 15, 2014 Share Posted May 15, 2014 im quoting you troll boy. Im assuming you are full of it though. Lazy groupthink. I don't agree with you. That'll make me a troll, then. Yawn. Because a little bit of Everything is always good... http://www.itsarando...com/2014/03/07/ Quote Link to comment Share on other sites More sharing options...
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