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Private Landlords Could Find It Harder To Get Mortgages

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"Private landlords could find it harder to get mortgages as a result of the government's new licensing regime, lenders have warned.

Compulsory licensing of houses in multiple occupation above a certain size will be introduced in April, along with a raft of new health and safety requirements applying to all private rented properties.

Landlords who fall foul of the new regime, introduced by the Housing Act 2004, could face fines of up to £20,000.

Lenders are poring over the details of the rules to decide if they need to tighten their requirements to cover the additional risks presented by landlords. If landlords are hit by large penalties, it could affect the ability of some to meet their mortgage repayments. "

http://firstrung.co.uk/articles.asp?pageid...articlekey=1147

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Compulsory licensing of houses in multiple occupation above a certain size will be introduced in April, along with a raft of new health and safety requirements applying to all private rented properties.

Guess TTRTR is screwed then.

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Guess TTRTR is screwed then.

Wouldn`t know much re. his personal business to make that call. However, he strikes me as somone who is between having been in the landlord game "man and boy" and a newbie. LLs with 20yr + experience have seen it all before. Newbies, what they lose they`ve never really had, other than in their own imagination. Those that have been in the game 10 years or so, may see real wealth and equity evaporate....painful

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Guest magnoliawalls

Guess TTRTR is screwed then.

I expect that it will become standard practice to rent large houses to one or two tenants with the private understanding that they will sublet the other rooms.

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TTRTR has never admitted to being a slumlord, but he has hinted on several occasions that he stuffs his houses full of low-paid immigrants: which is, after all, about the only way to make enough money to pay even the interest on a mortgage these days. So if this law brings the days of a dozen immigrants in a two-bed flat to an end, he's likely to find all those 105% interest-only mortgages a bit difficult to pay off.

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Guess TTRTR is screwed then.

Wandsworth viewed my houses 4 or 5 weeks ago & said they'd have no trouble getting through licensing. They're also offering me grant funding for the improvements needed to the fire protection to meet the new regs.

All in all, no major problem for me personally.

But as I posted on a thread back then, this really is taking a sledgehammer to the minor problems in shared houses. They claim to be more interested in fire protection and anti-social tenants, but both those problems can be addressed by dealing with tenant behavior rather than passing extra responsibilities onto landlords. But as we have a labour govt, they would have it no other way.

But if it turns away new landlords, that's great for me.

TTRTR has never admitted to being a slumlord, but he has hinted on several occasions that he stuffs his houses full of low-paid immigrants: which is, after all, about the only way to make enough money to pay even the interest on a mortgage these days. So if this law brings the days of a dozen immigrants in a two-bed flat to an end, he's likely to find all those 105% interest-only mortgages a bit difficult to pay off.

I can't believe what so many of you posters are willing to make up to suit themselves! Didn't you admit to being a pedophile recently? I can't remember, but I'll post it anyway......

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I can't believe what so many of you posters are willing to make up to suit themselves!

What exactly am I making up? Some months ago you were talking about how much money you made by buying houses and renting them out, and I commented that the only way I could see to make money at current prices was to stuff the place full of as many low-paid immigrants as would fit. You said something along the lines of 'nudge, nudge, wink, wink', implying that that is precisely how you make your money.

I'd point you to the thread if I could remember when it was.

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What exactly am I making up? Some months ago you were talking about how much money you made by buying houses and renting them out, and I commented that the only way I could see to make money at current prices was to stuff the place full of as many low-paid immigrants as would fit. You said something along the lines of 'nudge, nudge, wink, wink', implying that that is precisely how you make your money.

I'd point you to the thread if I could remember when it was.

You made up the bit that I let my places to low poaid immigrants. You specifically did that to try to disrepute me. A typical attack in a typical bear way.

As stated on another thread of mine recently, my tenants probably earn more than you do and they get a professional service from me. Like it or not, you made up what you wrote.

I think you should re-read what you posted first, because what you posted above in response to my protest, is utter tosh.

Edited by Time to raise the rents.

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You made up the bit that I let my places to low poaid immigrants. You specifically did that to try to disrepute me. A typical attack in a typical bear way.

As stated on another thread of mine recently, my tenants probably earn more than you do and they get a professional service from me. Like it or not, you made up what you wrote.

I think you should re-read what you posted first, because what you posted above in response to my protest, is utter tosh.

TTRTR tennants are fine upstanding citizens. Every tennant has to sit an exam and pass an interview. No immigrants are allowed and they must be WASPS. Anyone that doesn't vote Conservative is refused and they must allow possible rent rises every month to accomodate for changing fortunes / risk in TTRTR's portfolio.

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You made up the bit that I let my places to low poaid immigrants.

I said no such thing: I said that you had hinted that you rented out your places to low-paid immigrants, which you have done. Unfortunately the search engine here isn't good enough to find the thread I mentioned in my last post.

I think you should re-read what you posted first, because what you posted above in response to my protest, is utter tosh.

I think you should re-read what I posted, because my wording was deliberately very precise.

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TTRTR has also made it clear on many occassions that as an Australian, he has a god-given right not to accept Jews, Blacks or Abos as tenants. His countrymen have gone one further and are beating up said minorities on the beaches of Australia. Wonder if the recent HPC in Oz and the subsequent 'vanishing' of the 'free money' had anything to do with those peacable, good natured jocular rooshaggers getting twitchy...?

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Actually, here's the original thread that I was thinking of:

http://www.housepricecrash.co.uk/forum/ind...pic=13207&st=20

Reading it again now, it's not as clear as I thought: I may have misinterpreted his comments, though his lack of response to my further posts still implies to me that he was accepting them. So I'll have to take back my original post here (though I'm sure I remember him making similar comments on other threads).

But if he's not, I still have a hard time figuring out how he could be making any money.

Edited by MarkG

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Actually, here's the original thread that I was thinking of:

http://www.housepricecrash.co.uk/forum/ind...pic=13207&st=20

Reading it again now, it's not as clear as I thought: I may have misinterpreted his comments, though his lack of response to my further posts still implies to me that he was accepting them. So I'll have to take back my original post here (though I'm sure I remember him making similar comments on other threads).

But if he's not, I still have a hard time figuring out how he could be making any money.

He's an Aussie. They're a race of property guru's don't cha know?

And in case you doubt how wise our antipodean cousins are.

http://www.aversion.com/news/news_article.cfm?news_id=5767

Edited by algor

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Actually, skimming through his other thread it looks more like he's stuffing places full of people on half-decent wages... which I'm sure is viable if you can find enough people on sizable incomes willing to live six to a house. Not a business I'd want to get into though.

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TTRTR has also made it clear on many occassions that as an Australian, he has a god-given right not to accept Jews, Blacks or Abos as tenants. His countrymen have gone one further and are beating up said minorities on the beaches of Australia. Wonder if the recent HPC in Oz and the subsequent 'vanishing' of the 'free money' had anything to do with those peacable, good natured jocular rooshaggers getting twitchy...?

Uh, the fights you are referring to were between Australians(as native as anyone non-abo can be...), and it was the Lebanese Muslims (in the minority) against everyone else (aka the majority) in order to 'rid their beach of them', threatening woman with rape, beating up lifeguards, stabbing people and setting cars alight and raiding housing estate at nights, bearing firebombs, banlieu style.

I'd say your assessment of a sharp drop in property prices is correct for those areas, but not the cause for their

HPC.

Cinnamon

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Aussie dont care who they beat up and abuse.

after all, they are a nation of descendants of illiterate murderous criminals and petty crooks, deported centuries ago because we couldn't be arsed to pay to keep them in jail.

(some of teh above may or may not be true) :-)

(all of the above may very well apply to TTRTR)

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TTRTR has never admitted to being a slumlord, but he has hinted on several occasions that he stuffs his houses full of low-paid immigrants: which is, after all, about the only way to make enough money to pay even the interest on a mortgage these days. So if this law brings the days of a dozen immigrants in a two-bed flat to an end, he's likely to find all those 105% interest-only mortgages a bit difficult to pay off.

Can't you even read what you wrote Mark?

hinted that he stuffs his houses full of low paid immigrants etc etc.

I put it to you, that you made that up fully out of thin air. Found any good child porn downloads today? I made that up too.

Edited by Time to raise the rents.

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Can't you even read what you wrote Mark?

hinted that he stuffs his houses full of low paid immigrants etc etc.

I put it to you, that you made that up fully out of thin air. Found any good child porn downloads today? I made that up too.

Come on now ttrtr you should know by now that to stop a bear mauling you , you play dead.

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Guest Bart of Darkness

TTRTR tennants are fine upstanding citizens. Every tennant has to sit an exam and pass an interview. No immigrants are allowed and they must be WASPS. Anyone that doesn't vote Conservative is refused and they must allow possible rent rises every month to accomodate for changing fortunes / risk in TTRTR's portfolio.

Not only that but they must provide at least two character references from professional people such as high court judges, doctors, brain surgeons etc. and be prepared to submit their bank statements to him so that he can accurately establish what percentage of their income goes on rent.

:lol:

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I put it to you, that you made that up fully out of thin air.

I didn't, I was basing that comment on your remarks in the thread I posted a link to up above, which you could maybe try reading. And, as I said, I accept that I probably misinterpreted you and take back what I originally said here.

Unlike you, I can admit to making mistakes.

Also, to be honest, I'm not entirely sure what you're objecting to, given that from the look of your other thread here you were apparently intending to stuff eight moderately-paid Londoners into your new place. I apologise for implying that you might have stuffed them with low-paid immigrants instead.

Edited by MarkG

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I didn't, I was basing that comment on your remarks in the thread I posted a link to up above, which you could maybe try reading. And, as I said, I accept that I probably misinterpreted you and take back what I originally said here.

Unlike you, I can admit to making mistakes.

Also, to be honest, I'm not entirely sure what you're objecting to, given that from the look of your other thread here you were apparently intending to stuff eight moderately-paid Londoners into your new place. I apologise for implying that you might have stuffed them with low-paid immigrants instead.

There you go again, off in your own direction. Where did you get 8 from?

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In your other thread you said:

The conversion plan BTW was to do a loft conversion adding 2 rooms into the loft, plus a roof terrace. Then the bottom 2 floors could become a 4 bedroom flat if the main bathroom was turned into a bedroom and the upper flat could be 4 bedrooms as well with the 2 rooms in the loft. Both flats could easily have 2 bathrooms each BTW.

So you said you were going to turn a six-bed house into two four-bed flats and that you planned to rent it to a group of sharers for over three thousand pounds a month: being as you're a landlord, I assumed you were intending to rent out all those bedrooms?

Edited by MarkG

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In your other thread you said:

So you said you were going to turn a six-bed house into two four-bed flats and that you planned to rent it to a group of sharers for over three thousand pounds a month: being as you're a landlord, I assumed you were intending to rent out all those bedrooms?

Fair enough. But the 3410 pounds was for it as a 6 bedroom house & the conversion was a longer term idea. Two 4 bedroom flats would be more like 4400 per month just so you know.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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