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GAL BEAR

Location, Location,kirsty Makes

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I am ashamed to admit that I watched LLL last night.

Kirsty or Phil (not sure which) made a 'negative' comment about BTL.

(in amongst all the Vested Interest C**p they talk).

This young couple were looking for a home to buy.

They had a mortgage for 190 grand (she had equity from a previous property).

Because their pension prospects were not looking to good they decided to buy a home for

£130 grand and get a BTL for about 60 grand (up Manchester way).

(As an aside prices did seem a lot more reasonable than a few months ago, the couple looked at two

really nice houses for around the £118 grand mark, both the houses had 3 bedrooms and had

huge rooms - and I know £118 is still a lot money but it did seem a bit cheaper to me).

Anyway before they started to look at the BTL flats one of our dynamic duo made the following

leading statment.....

"It has to be said that the BUY TO LET MARKET is looking a bit 'fragile' at the moment"

or words to that effect. So from the horses mouth as they say.

They then went on to say that although that was the case THEY would ensure that the properties they

found would be such good 'investments' that the young couple would still be on to a good bet.!!!

What was really funny at the end was the young couple bought the home but decided against the

BTL because.....

"We realised that if we went down the BTL route and we found WE COULD NOT MANAGE TO RENT

THE PROPERTY OUT" we would be in serious trouble. We would have no social life, could not afford

to get the car fixed. It was just not worth the risk in the end!!!!"

I was amazed our Dynamic Duo left that classic statement in the show.

Lets hope JOE PUBLIC/POSSIBLE FUTURE BTL LANDLORDs were watching and made some of them

see sense!

Edited by GAL BEAR

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Lets hope JOE PUBLIC/POSSIBLE FUTURE BTL LANDLORDs were watching and made some of them

see sense!

Also seems strange how the show appears to be chasing a retreating market - going further oop north each episode - expect the last show to be from the orkney islands ....

Edited by Bemused

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Also seems strange how the show appears to be chasing a retreating market - going further oop north each episode - expect the last show to be from the orkney islands ....

:lol::lol::lol:

Yes, or the FALKLANDS !!!

Edited by GAL BEAR

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She was definitely negative about BTL, much to Spencer's chagrin.

The BTL element to the program was interesting. I was very pleased for the couple when they pulled out. The reason became obvious: things were so tight financially any capital outlay on the BTL would break them. What astonished and angered me was the issue of affordability obviously had not been discussed and Spencer nevertheless, was encouraging them buy BTL. It must have been obvious they could not afford the BTL.

He is holding himself out as an expert and within the context of the couple's and Spencer's relationship he owes them a duty of care IMO. If they had bought on his advice, and if he had failed to discuss affordability and failed to warn property prices can decrease, and as a result of this omission the couple suffered loss, Spencer must be liable IMO. He's breached his duty of care and been negligent in failing to warn and give proper advice. Okay, so there is no contract between the parties (which may or may not be significant) but there has to be a cause of action somewhere.

IMO Spencer is skating on wafer thin ice.

:angry: :angry: :angry: :angry: :angry: :angry:

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He is holding himself out as an expert and within the context of the couple's and Spencer's relationship he owes them a duty of care IMO. If they had bought on his advice, and if he had failed to discuss affordability and failed to warn property prices can decrease, and as a result of this omission the couple suffered loss, Spencer must be liable IMO. He's breached his duty of care and been negligent in failing to warn and give proper advice. Okay, so there is no contract between the parties (which may or may not be significant) but there has to be a cause of action somewhere.

I'd love to see a special re-union programme in a decade...

"Phill, Kirsty say hello to Bazza. Do you remember you helped him and his family find a two bed terraced house in Barnsley in the summer of 2004 for a still record price of £110k? Well Baz has had a hard time of it, he's suffered financial ruin and the break up of his family since than. Baz, I think you have something you'd like to say to Phill and Kirsty. Baz what are you doing? Baz no, BAZ STOP, PLEASE GOD NOOOO!..."

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i quite liked Phil's comment that the buy to let market in hull was very buoyant as there are "to let" boards everywhere. Hold on Phil, "to let" boards everywhere means that there is major over supply and does not indicate a good market to get into.

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I'd love to see a special re-union programme in a decade...

"Phill, Kirsty say hello to Bazza. Do you remember you helped him and his family find a two bed terraced house in Barnsley in the summer of 2004 for a still record price of £110k? Well Baz has had a hard time of it, he's suffered financial ruin and the break up of his family since than. Baz, I think you have something you'd like to say to Phill and Kirsty. Baz what are you doing? Baz no, BAZ STOP, PLEASE GOD NOOOO!..."

:lol::lol::lol:

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i quite liked Phil's comment that the buy to let market in hull was very buoyant as there are "to let" boards everywhere. Hold on Phil, "to let" boards everywhere means that there is major over supply and does not indicate a good market to get into.

Exactly! Notice all the "To Let" signs in the background!

What really p***** me off was after the couple decided against buying a BTL, Phil has the cheek

to say on the 'voicde over' that 'They've missed a great opportunity' - what a **nt!!! You buy it then Phil!!!

Edited by OzzMosiz

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i quite liked Phil's comment that the buy to let market in hull was very buoyant as there are "to let" boards everywhere. Hold on Phil, "to let" boards everywhere means that there is major over supply and does not indicate a good market to get into.

In the interests of fairness I think he appreciated this full well. If memory serves, he followed it up with a statement to the effect of: "Despite this, agents tell me demand outstrips supply."

What really p***** me off was after the couple decided against buying a BTL, Phil has the cheek

to say on the 'voicde over' that 'They've missed a great opportunity' - what a **nt!!! You buy it then Phil!!!

Well, quite - I thought, if it's so easy for Phil to spot a bargain, why doesn't he leverage his business and mortgage himself to the hilt so he can be a property kabillionaire in a few years rather than letting ignorant mugs get in on it?

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She was definitely negative about BTL, much to Spencer's chagrin.

The BTL element to the program was interesting. I was very pleased for the couple when they pulled out. The reason became obvious: things were so tight financially any capital outlay on the BTL would break them. What astonished and angered me was the issue of affordability obviously had not been discussed and Spencer nevertheless, was encouraging them buy BTL. It must have been obvious they could not afford the BTL.

He is holding himself out as an expert and within the context of the couple's and Spencer's relationship he owes them a duty of care IMO. If they had bought on his advice, and if he had failed to discuss affordability and failed to warn property prices can decrease, and as a result of this omission the couple suffered loss, Spencer must be liable IMO. He's breached his duty of care and been negligent in failing to warn and give proper advice. Okay, so there is no contract between the parties (which may or may not be significant) but there has to be a cause of action somewhere.

IMO Spencer is skating on wafer thin ice.

:angry: :angry: :angry: :angry: :angry: :angry:

You're expecting too much. He's basically an EA, but charges the buyer not the seller. What does he care so long as he gets the commission?

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I am ashamed to admit that I watched LLL last night.

Kirsty or Phil (not sure which) made a 'negative' comment about BTL.

(in amongst all the Vested Interest C**p they talk).

This young couple were looking for a home to buy.

They had a mortgage for 190 grand (she had equity from a previous property).

Because their pension prospects were not looking to good they decided to buy a home for

£130 grand and get a BTL for about 60 grand (up Manchester way).

(As an aside prices did seem a lot more reasonable than a few months ago, the couple looked at two

really nice houses for around the £118 grand mark, both the houses had 3 bedrooms and had

huge rooms - and I know £118 is still a lot money but it did seem a bit cheaper to me).

Anyway before they started to look at the BTL flats one of our dynamic duo made the following

leading statment.....

"It has to be said that the BUY TO LET MARKET is looking a bit 'fragile' at the moment"

or words to that effect. So from the horses mouth as they say.

They then went on to say that although that was the case THEY would ensure that the properties they

found would be such good 'investments' that the young couple would still be on to a good bet.!!!

What was really funny at the end was the young couple bought the home but decided against the

BTL because.....

"We realised that if we went down the BTL route and we found WE COULD NOT MANAGE TO RENT

THE PROPERTY OUT" we would be in serious trouble. We would have no social life, could not afford

to get the car fixed. It was just not worth the risk in the end!!!!"

I was amazed our Dynamic Duo left that classic statement in the show.

Lets hope JOE PUBLIC/POSSIBLE FUTURE BTL LANDLORDs were watching and made some of them

see sense!

I know Hull quite well, some old friends continue to live in The Avenues which is not far from the cheap housing near the University. I was thinking of buying to renovate in Hull last year, hearing about the strong growth, but I couldn't find the right property (any anyway my current project overran on time). It's a shame because Hull prices have been healthy in the last year or so - it's been very much behind even the rest of the north, let alone Yorkshire, but I suspect I've missed the bus so to speak. I've just sold my last renovation, in Leeds (Horsforth) for which I received the asking price but I really am wary right now. Perhaps I've been reading too much gloom on this forum for too long!

I loved Phil's comments about Hull having a bad press for which he was partly responsible. I saw that programme last year, and the funniest aspect was the indignation from Hull people who actually thought that far from being the worst place, it was the best (rather than being one of the worst, not THE worst.)!

I was amazed how dopey that couple were. I wish some of my buyers were that dim.

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i quite liked Phil's comment that the buy to let market in hull was very buoyant as there are "to let" boards everywhere. Hold on Phil, "to let" boards everywhere means that there is major over supply and does not indicate a good market to get into.

YES, thats exactly what I thought !

:huh:

They must thnink we are all as daft as they are !

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:lol::lol::lol:

Yes, or the FALKLANDS !!!

Which would be south.. but i know what you mean

I know Hull quite well, some old friends continue to live in The Avenues which is not far from the cheap housing near the University. I was thinking of buying to renovate in Hull last year, hearing about the strong growth, but I couldn't find the right property (any anyway my current project overran on time). It's a shame because Hull prices have been healthy in the last year or so - it's been very much behind even the rest of the north, let alone Yorkshire, but I suspect I've missed the bus so to speak. I've just sold my last renovation, in Leeds (Horsforth) for which I received the asking price but I really am wary right now. Perhaps I've been reading too much gloom on this forum for too long!

I loved Phil's comments about Hull having a bad press for which he was partly responsible. I saw that programme last year, and the funniest aspect was the indignation from Hull people who actually thought that far from being the worst place, it was the best (rather than being one of the worst, not THE worst.)!

I was amazed how dopey that couple were. I wish some of my buyers were that dim.

Cool, the market will have made a lot of money for some..

Just knowing when to gt out on time..

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  • 337 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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