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Jump in landlords facing serious mortgage arrears


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9 hours ago, Freezer? Best place for it said:

“Rents will have to go up” - what a shyte for brains to even suggest this.

Hopefully it will cause LL’s many sleepless nights.

"Rents Your properties will have to go up for sale at a knockdown price, preferably including the house you live in, you f*cking parasite".

Fixed that for you :P

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So whats the cause.

IRs have not gone up, so its the rent side.

EEers going home? Yep.

Some EEers decuding to stop paying rent. Yep too.

DSS UC delays. Yep.

Sympathy? Nope. Its a business. These are business risks. These are also the reasons why mortgage banks never used to lend to LL - too much risk.

Edited by spyguy
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19 hours ago, Freezer? Best place for it said:

“Rents will have to go up” - what a shyte for brains to even suggest this.

You don't understand how it works. If LL sells a property, soon it will be demolished even if bought by the same tenant who used to rent from him. You'd need another BTL LL to magically create a new dwelling to compensate that loss or the rents will have to go up because of less properties available.

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6 minutes ago, TonyJ said:

Oh he was being sarcastic! But actually, some multi-flat houses are bought and then returned to being a singe house, as it was originally, so it does happen in certain circumstances.

I'd be surprised if it's anywhere near as often as someone buying a house and walling it off into separate cupboards to rent out individually.

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23 hours ago, Kosmin said:

Indeed. We should understand a little less and condemn a little more.

 

In Ireland at the moment there are about 9000 homeless people including loads of children, and they are mainly people who have been evicted from the Private Rental Sector. Their wee shark- BTL landlord is getting swallowed up by a bigger shark-Vulture Fund who bought the distressed mortgage at a discount from the Irish banks.

First step is evict the lowly tenants so they can sell the house to realise a profit. Tenants have very few rights. 

It is obscene.

Edited by Thorn
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A 20% increase in landlords in serious arrears does sound s lot more significant than "200 more landlords". A 20% increase of nothing is still nothing. 

When the arrears finally pick up this will increase by many hundreds of percent. 

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I move household furniture for a living.

This week I moved a family, who were tenants of a private landlord. They were kicked out having spent three years in the house. The tenant said he couldn`t get a definitive reason why he was being kicked out.

Also a friend of his who was helping that very day said his landlord was making noises about wanting to bring forward the rent payment date every month, on his rented house. He couldnt understand why.

I suggested his landlord was in trouble financially. I am not sure he got it, but did say he would not agree to a change in dates, even though the agent was making uncomfortable noises about having to get another tenant.

Edited by GinAndPlatonic
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12 minutes ago, CunningPlan said:

If an EE is planning on going home in the next six months or so, why would they bother paying the rent?

'Hello? I that Warsaw police? Good. My names Fergus and Im trying to trace someone called Pavel. He owes me 10 months rent....'

Unless the person is working/renting  via a company with a base in the UK, you really should not be renting to foriegners i nthe UK. The risks are very very very high.

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  • 433 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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