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Hpc Good News Thread


GreenDevil

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HOLA441
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HOLA444

This made me smile and in the Daily HPI Mail

http://www.dailymail.co.uk/money/experts/article-3790516/Should-remortgage-buy-lets-early-escape-mortgage-crackdown.html

I’ve just remortgaged one of my buy-to-let properties with The Mortgage Works who told me that far from needing my rent to cover my mortgage by an extra 25 per cent, it now needs to cover it by an extra 45 per cent. 

The change really threw me and meant that I ended up putting in extra equity to the property to pull the loan-to-value and rate down. 

I have four other buy-to-lets, all of which are due to be remortgaged fairly imminently but I am still in the period where I'll need to pay early repayment charges to remortgage now. 

Are all lenders going to require this much more rent or can I still remortgage on similar terms as before?

I’m concerned that I don’t have the equity to top up another four properties.

The answer was - go and boil your head you useless parasite. Harsh but fair.

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HOLA445

^ :lol: - Like clockwork these articles are appearing in the pro BTL media sections. Good News.

Oh the humanity! Won't someone please help the over-leveraged BTLer. They are the foundation of our economy, Whatever should she do?

As the wise heads here once remarked:

Sell.

Sell Now. Sell Everything.

 

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HOLA4410
On 17/09/2016 at 9:26 PM, Si1 said:

Donald trump's going to win the US election. Can't say I support him, but I despise Hillary.

Hillary got reamed at the ast debate. Trump brought up Bill's numerous rapes and even brought the victims to the actual evemt. Absolute madman.

 

TBH. I like Trump. If he starts a trade war with China so much the better. Time to bring back American factories to America and European factories to Europe.

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We all need some good news.

https://www.theguardian.com/money/2016/oct/11/cut-stamp-duty-revive-housing-market-estate-agents-property-prices-haart

 

Haart, which has more than 100 branches across England, said UK house prices had dropped by 1.1% in September compared

 

" On a year-on-year basis, the average price of a property was 2.7% higher than in September 2015, at £226,229. "

" The agency said the number of homes for sale was down by 2.3% on September 2015’s figure, while viewings had fallen by 10.3% over the same period. "

 

Edited by TheCountOfNowhere
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On 10/5/2016 at 10:39 PM, Crumbless said:

This made me smile and in the Daily HPI Mail

http://www.dailymail.co.uk/money/experts/article-3790516/Should-remortgage-buy-lets-early-escape-mortgage-crackdown.html

I’ve just remortgaged one of my buy-to-let properties with The Mortgage Works who told me that far from needing my rent to cover my mortgage by an extra 25 per cent, it now needs to cover it by an extra 45 per cent. 

The change really threw me and meant that I ended up putting in extra equity to the property to pull the loan-to-value and rate down. 

I have four other buy-to-lets, all of which are due to be remortgaged fairly imminently but I am still in the period where I'll need to pay early repayment charges to remortgage now. 

Are all lenders going to require this much more rent or can I still remortgage on similar terms as before?

I’m concerned that I don’t have the equity to top up another four properties.

The answer was - go and boil your head you useless parasite. Harsh but fair.

Why are banks expecting more coverage from rental income? Is BTL IR going to rise? IO mortgage being phased out?

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In foreign media, here is an article form a popular Gulf daily. Encouraging freeholders of London property to sell or see gains wiped away:

 

http://www.khaleejtimes.com/business/markets/lessons-of-sterlings-ghastly-crash

 

I expect the current bloodbath in the bond market will intensify - and lead to foreign panic selling in gilts. The cost of borrowing will surge as the markets, not Carney, hedge inflation risk from the sterling crash and $52 Brent (So taxi rides from Heathrow to West End hotels rise to £100 a pop?). London property prices can well fall by 20-30 per cent as the macro milieu unravels. Tessa has gone populist to compete with UKIP's loony right. The Bank of England is clueless about inflation risk. The French want to avenge Brexit, Waterloo and Agincourt. I remain a sterling bear!

Edited by Tapori
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Panic first.  

Got to wonder if there are margin calls set to come into play for those who've already gone hard into UK/London property at ever insane prices in recent years.  

It was a Singapore bank(s), iirc, who said they were putting a stop on lending to buy UK property, a few months ago.

So for those who have already borrowed to buy....

Thanks for link Tapori.

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Currency now is getting headlines on MSM as a full blown crisis.

Looks like the HPC is getting closer.

Sack carney the gimp and we can start raising rates, but even without his invervention (cant see it) , i would expect start to see property starting to really fall over the christmas doldrums.

Bring on the HPC.

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HOLA4421

Sterling crisis well underway now, first house price drop in years and banks making more threats to vacant London.

http://www.mortgageintroducer.com/first-uk-house-price-fall-four-years/#.WACZgI8rJaR

http://www.bloomberg.com/news/features/2016-10-14/where-in-europe-will-bankers-fleeing-london-go-after-brexit

Good news coming thick and fast.

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On 11/10/2016 at 7:08 PM, GreenDevil said:

Currency now is getting headlines on MSM as a full blown crisis.

Looks like the HPC is getting closer.

Sack carney the gimp and we can start raising rates, but even without his invervention (cant see it) , i would expect start to see property starting to really fall over the christmas doldrums.

Bring on the HPC.

CutxkhLXgAA0g0s.jpg

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