erat_forte Posted August 1, 2015 Share Posted August 1, 2015 Mrs e-f was babbling on this morning about the btl genius in East Anglia, on the front page of the Telegraph. Help me, what do I say? Quote Link to comment Share on other sites More sharing options...
thombleached Posted August 1, 2015 Share Posted August 1, 2015 I want a divorce. Quote Link to comment Share on other sites More sharing options...
Lewis Gordon Pugh Posted August 1, 2015 Share Posted August 1, 2015 Tell her to buy a quality newspaper? Quote Link to comment Share on other sites More sharing options...
billybong Posted August 1, 2015 Share Posted August 1, 2015 (edited) . Edited August 1, 2015 by billybong Quote Link to comment Share on other sites More sharing options...
porca misèria Posted August 1, 2015 Share Posted August 1, 2015 Mrs e-f was babbling on this morning about the btl genius in East Anglia, on the front page of the Telegraph. Help me, what do I say? Babble on about the story of some traditional pimp who prospered? If necessary point out the parallels, and the fact that the property pimp is holding something much more essential to ransom than the sexual pimp ever did. Quote Link to comment Share on other sites More sharing options...
Mr. Miyagi Posted August 1, 2015 Share Posted August 1, 2015 Tell her to buy a quality newspaper? Quite. Quote Link to comment Share on other sites More sharing options...
council dweller Posted August 1, 2015 Share Posted August 1, 2015 Blame her parents.... "Why didn't your mother die?" Quote Link to comment Share on other sites More sharing options...
erat_forte Posted August 1, 2015 Author Share Posted August 1, 2015 At least she was reading online! Quote Link to comment Share on other sites More sharing options...
gf3 Posted August 1, 2015 Share Posted August 1, 2015 Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted August 1, 2015 Share Posted August 1, 2015 Poor dog having to go around with fur like that. Quote Link to comment Share on other sites More sharing options...
billybong Posted August 1, 2015 Share Posted August 1, 2015 (edited) It's just a bit of a shame that Balls didn't say Labour must back honest business because backing any old business including the dodgy ones seems to have been one of the main reasons leading to Labour's latest downfall. Edited August 1, 2015 by billybong Quote Link to comment Share on other sites More sharing options...
erat_forte Posted August 1, 2015 Author Share Posted August 1, 2015 Ok lets try again http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11767771/I-own-most-of-my-street-buy-to-let-investor-26.html Quote Link to comment Share on other sites More sharing options...
Bland Unsight Posted August 1, 2015 Share Posted August 1, 2015 Interesting. He thinks he's OK up to 9%. Let's remind ourselves of the Basel 3 risk weightings out for consultation: BTL is looking to end up in a bin where it is risk weighted 100% or possibly 110%, so roughly three times the risk weight of most prime lending (which would be DSR less than 35%, and LTV less than 80%). Hence the idea that the rate he'll be paying in due course may be easily in excess of twice times present-owner occupier SVRs is not unreasonable. Let's see what they've been doing: OK, so if things go as the Bank of England are signposting, he'll have a negative cash flow portfolio, (which may well have almost halved in value from today's price). I'm out. You could suggest to your other half that the regulator is going to extinguish interest-only lending into the residential sector and kill of this nonsense Brown era BTL crap for good, crucifying this Cambridge educated herbert in the process. No offence to any decent hpcers similarly affected, by I'll bet my own money he read Geography. Quote Link to comment Share on other sites More sharing options...
pipllman Posted August 1, 2015 Share Posted August 1, 2015 condition 40. is interesting, explicitly eliminating HPI from the calculations of LTV. If the loan is written with the property valued at £100k then, without significant building work or a new loan being written, that is the value it is on the lender's books at for the life of the loan is that standard practice already, or can lenders currently mark to market in their favour the property securing older loans? Quote Link to comment Share on other sites More sharing options...
pipllman Posted August 1, 2015 Share Posted August 1, 2015 Ok lets try again http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11767771/I-own-most-of-my-street-buy-to-let-investor-26.html sounds fairly sensible “Initially I wanted to build a buy-to-let empire with hundreds of properties, but I’ve realised that it’s better to have fewer properties and better cash flow." If the article is the whole story, then I have no problem with landlords of his ilk Quote Link to comment Share on other sites More sharing options...
Eddie_George Posted August 1, 2015 Share Posted August 1, 2015 (edited) ... crucifying this Cambridge educated herbert in the process. No offence to any decent hpcers similarly affected, by I'll bet my own money he read Geography. Looks like he did Business Management at University Campus Suffolk (an institution affiliated with UEA and Uni of Essex), followed by a Postgraduate Diploma in Entrepreneurship at the Judge Business School in Cambridge. http://www.ucs.ac.uk/Alumni/Your-Stories/Ryan-Windsor-profile.aspx http://insight.jbs.cam.ac.uk/2014/cambridge-entrepreneurs-graduate/ Edited August 1, 2015 by Eddie_George Quote Link to comment Share on other sites More sharing options...
BorrowToLeech Posted August 1, 2015 Share Posted August 1, 2015 (edited) sounds fairly sensible “Initially I wanted to build a buy-to-let empire with hundreds of properties, but I’ve realised that it’s better to have fewer properties and better cash flow." If the article is the whole story, then I have no problem with landlords of his ilk Then you must be ignoring the 9 families he has forced out of owner occupation, who will never have secure stable accommodation so he can have his 9%. Edited August 1, 2015 by BuyToLeech Quote Link to comment Share on other sites More sharing options...
Guest_northshore_* Posted August 1, 2015 Share Posted August 1, 2015 "You should not work to live, you should live to work" - a little ironic and I couldn't disagree more. Quote Link to comment Share on other sites More sharing options...
Fully Detached Posted August 1, 2015 Share Posted August 1, 2015 "You should not work to live, you should live to work" - a little ironic and I couldn't disagree more. Absolutely. Anyone who lives to go to work gets no respect from me. Quote Link to comment Share on other sites More sharing options...
pipllman Posted August 1, 2015 Share Posted August 1, 2015 Then you must be ignoring the 9 families he has forced out of owner occupation, who will never have secure stable accommodation so he can have his 9%. 19pc he said and to say that his actions have forced families out of owner occupation and that they will never have secure stable accommodation is utter nonsense I can think of dozens and dozens of people that have, at some time, lived in a rented flat or house and subsequently gone on to own their own home (i.e. really own with no debt, none of this mortgage malarkey) - which is what I think you mean when you use that phrase there is no reason at all to think that someone living in one of his rentals right now will not do the same at some point in the future nor is there any reason at all to think that someone living in a rental does not view that as secure stable accommodation either: it certainly can be Quote Link to comment Share on other sites More sharing options...
BorrowToLeech Posted August 1, 2015 Share Posted August 1, 2015 19pc he said and to say that his actions have forced families out of owner occupation and that they will never have secure stable accommodation is utter nonsense I can think of dozens and dozens of people that have, at some time, lived in a rented flat or house and subsequently gone on to own their own home (i.e. really own with no debt, none of this mortgage malarkey) - which is what I think you mean when you use that phrase there is no reason at all to think that someone living in one of his rentals right now will not do the same at some point in the future nor is there any reason at all to think that someone living in a rental does not view that as secure stable accommodation either: it certainly can be Nine homes are no longer available to own. So nine fewer families will own. People will rent for a while, and then own, and then rent again. The sun will rise, and set, and rise again. Babies will be born. People will die. The wind will erode cliffs, which will then rise again as the earths core drives vast tectonic plates across the surface of the globe. In the distance, a tiny bird, resting on a branch, cocks her head, listening for the coming of spring. Lightyears away a gas cloud coalesces, and a new star flickers into life from the ashes of the old. The details of the world, are an interesting distraction, but we don't usually need to worry about them. Somewhere, a landlord is evicting his a tenant. A woman cries. Quote Link to comment Share on other sites More sharing options...
200p Posted August 1, 2015 Share Posted August 1, 2015 (edited) urgh, property made him millions in six months, and he is only 19 years old (looks). I hope many people w*nked over that front page. Edited August 1, 2015 by 200p Quote Link to comment Share on other sites More sharing options...
pipllman Posted August 1, 2015 Share Posted August 1, 2015 Pretty depressing sign of the times when the only way to get ahead with a Cambridge education is to go into BTL. that is true Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted August 1, 2015 Share Posted August 1, 2015 Just like Blair, you can see he was bullied remorselessly at school. Quote Link to comment Share on other sites More sharing options...
The Spaniard Posted August 1, 2015 Share Posted August 1, 2015 The maximum rental income per property is stated as £650 per month, £7800 per year. If the gross yield is the stated 19%, the price he paid is around £41,000 per property. I don't believe his numbers. Quote Link to comment Share on other sites More sharing options...
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