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Bbc: Why Do People Resent Buy-To-Letters So Much?

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I love BTL landlords, they are providing vital housing services and glueing the community together. Remember, if a BTLer doesnt buy that house the bricks and mortar will crumble and the home will cease to exist.

You don't want Faye and her 3 kids to go homeless do you?

Edited by sPinwheel

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Because they are typically loser scum who have not had success in their normal careers or are just trying the old money for nothing trick.

Often sub par intelligence but think they're geniuses. They think everyone would do it if they had had the idea. I wouldn't murder babies either. ;)

Don't pay their taxes. Don't understand their business model was gifted them by government/monetary policy.

Their true colours will become ever more apparent as the business model comes under pressure and they increasingly fail to invest in their asset and we all witness the material deterioration of the UK housing base.

Without this single truth it would never have happened.

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Its not so much BTLers as such, its rent seekers of any kind.

IMO there is productive business. Business that makes its money by driving down cost and increasing supply, like computer manufacturing, then there is business like renting stuff out, which desires to restrict supply and force prices up.

I think there is an increased moral hazard in any rent seeking business, and entry into it should be discouraged, perhaps by making it basically unprofitable for all but the most canny and efficient players.

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and let's not forget the bankers and politicians who made it possible.

Daily Telegraph article

http://www.telegraph.co.uk/news/politics/12055073/Investors-face-blocks-on-buy-to-let-in-case-the-bubble-bursts.html

•Out of 330 Conservative MPs, 91 own buy-to-let properties (28pc)

•Buy-to-lets are defined as properties in which MPs do not live, which are worth over £100,000 and which generate more than £10,000 rent per year

•34 Conservative MPs have two or more buy-to-lets

•15 have three or more buy-to-lets

•Bob Blackman, MP for Harrow East since 2010, owns the greatest number of buy-to-lets having six flats in Welwyn Garden City, all generating more than £10,000 rent

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Buy-to-lets are defined as properties in which MPs do not live, which are worth over £100,000 and which generate more than £10,000 rent per year

So an MP with 20 BTLs in Bradford valued at 60-90k a piece and rented at 350-500pcm each is not included in these stats, is that so we can go straight for the prestigious title of Slumlord?

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The dispised Rentiers largely tend to go for the 'nice little investment' properties. Makes your typical FTB properties with 1 or 2 bedrooms a lot more expensive to buy. <_<

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Balanced? So where's the hpc mention? Been banging on about this since that reporter was probably at school.

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I despise the people in charge [Who are supposed to be there for the good of the masses] who allow this to happen more than the BTL'ers themselves.

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Ros 17/12/2015 at 19:00

If anyone would like to write to the BBC to complain about their biased article here, that would be good:

http://www.bbc.co.uk/news/magazine-35110421

The ‘academic’ they quote is a joke – making out LLs receive preferential treatment by the financial sector. How many times have we got to read this crap, masquerading as ‘truth’?

Sure, because your tenants can all borrow on an interest-only basis too, can't they? Oh wait. No. No, they can't. :rolleyes:

BTLers exist only because it suits bankers to allow them to exist.

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BTL are being set up to take the blame for the next wave of the crisis. Banks were ok for a bit, but we're supposed to have fixed them after last time. And besides, not everybody knows a banker; everyone knows a BTL that they can hate. There's one in every street. The story will be that the Treasury tried to stop them, the BoE tried to stop them, even the BBC tried to point out the error of their ways, but their insatiable greed and property lust meant they kept on bidding up prices until a collapse was inevitable. So now, hard working families, the reason you're in negative equity is the greedy, selfish **** next door, who wanted to leech off others while you just wanted a home to live in. How do you like them apples?

If the BTL complain that they are pariahs now, give it a couple of years.

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Its not so much BTLers as such, its rent seekers of any kind.

IMO there is productive business. Business that makes its money by driving down cost and increasing supply, like computer manufacturing, then there is business like renting stuff out, which desires to restrict supply and force prices up.

I think there is an increased moral hazard in any rent seeking business, and entry into it should be discouraged, perhaps by making it basically unprofitable for all but the most canny and efficient players.

I agree they are the same as people who chose to be pro single parents. Often rent seekers gets our money by housing benefit seekers.

Edited by iamnumerate

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I have nothing against someone buying a house and renting it out for a return on their money.

This used to mean (back 15+ years ago) 1 bed flats where popular as you would seldom choose to buy one and because you would need to make a return anything desired by a home owner would not be viable as they would pay more. The landlords I knew back then would be found in auctions buying run down properties and using their nous to be able to renovate it because owners did not want the hassle.

What I don't like is people buying rental properties in the hope of capital gain in the short term calling themselves investors when they are just speculators. This is key as many complaining BTL ers seem to be confused that they are genuine businesses

This has resulted in BTL moving into houses where the capital gain has worked out better due to families an couples competing against their capacity to borrow even more = higher prices again.

This previously has also created the worst one of all..... the accidental landlord where people have a nice home and then move jobs and keep the old home often with the rent just covering the cost....because they hope the old home will raise in value.

The latter scenario has been targeted by the chancellors changes, recently I viewed a home to rent approx "value" £500-£600k rental £1500 PCM landlord a consultant at the hospital who moved to a much bigger property.

I assume now with the tax changes the old property will now become a liability with him being a higher rate tax payer and a nice family home will come to market.

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BTL are being set up to take the blame for the next wave of the crisis. Banks were ok for a bit, but we're supposed to have fixed them after last time. And besides, not everybody knows a banker; everyone knows a BTL that they can hate. There's one in every street. The story will be that the Treasury tried to stop them, the BoE tried to stop them, even the BBC tried to point out the error of their ways, but their insatiable greed and property lust meant they kept on bidding up prices until a collapse was inevitable. So now, hard working families, the reason you're in negative equity is the greedy, selfish **** next door, who wanted to leech off others while you just wanted a home to live in. How do you like them apples?

If the BTL complain that they are pariahs now, give it a couple of years.

+1 absolutely spot on.

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