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Skipton Crash

Loads Of Ex-btls Coming On The Market

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Just done my daily rightmove check and in my town (semi-rural North Yorkshire) there are a LOT of buy to let properties coming on. Some vacant, some with "sitting tenants". It is remarkable how many have come on over the few days. I can only imagine that many landlords have already had enough and are looking to bail out while they can still make a profit!

It's hard to see many new entrants going into, unless they are cash buyers. You'd have to be certifiably nuts to go into BTL with borrowed money now!

With all the other changes being talked about and the fact that landlords are now seen as fair game, I've got a feeling that this is the start of something special :-)

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They have been sat on their hands praying for HPI for ten years now ,the new legislation has removed the average BTL`ers ability to carry on believing the distant dream of HPI as the tenants are now unable to cover the cost of the mortgage

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who's going to buy these unaffordable overpriced houses?

the Chinese?

if your land lord lives in China, why bother saying. him, he's unlikely to pop round and ask for the money.

I think a lot of banks who have been sitting on property's for the last 5 years have been shifting then for the last 2.

it's banker bailouts all round at the moment.

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who's going to buy these unaffordable overpriced houses?

the Chinese?

if your land lord lives in China, why bother saying. him, he's unlikely to pop round and ask for the money.

I think a lot of banks who have been sitting on property's for the last 5 years have been shifting then for the last 2.

it's banker bailouts all round at the moment.

I monitor an area in the SE about 5 miles square. Normally 1-2 properties a month come on.

Last week 3, all flats, all in the 150-250k range. By my calcs they are worth 100k tops.

I'm going long popcorn.

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I monitor an area in the SE about 5 miles square. Normally 1-2 properties a month come on.

Last week 3, all flats, all in the 150-250k range. By my calcs they are worth 100k tops.

I'm going long popcorn.

I`m thinking long on calculators then blow the all profits on popcorn .....could have we missed the top for calculators by now?

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I guess a few (ex) BTL-ers have made up their mind after gorgeous George's Marvellous emergency budget on ending tax relief on BTL properties. A fortnight later we now have the first crop of adverts reacting to this.

Haven't seen much difference in the area I monitor but I hope to see more of this type of property come onto the market. B)

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Perhaps they've been watching the tales of woe on Ch5 "Nightmare Tenants, Slum Landlords" which have featured some truly nightmare tenants as well as slum landlords. There were a couple of LLs featured who I actually felt sorry for.

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who's going to buy these unaffordable overpriced houses?

the Chinese?

if your land lord lives in China, why bother saying. him, he's unlikely to pop round and ask for the money.

I think a lot of banks who have been sitting on property's for the last 5 years have been shifting then for the last 2.

it's banker bailouts all round at the moment.

^^ yes, this.

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