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prozac

Man may lose house

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I know an ex-work mate, who may be losing his property.

Weird situation, he is of Indian origin and owns a property in Ruislip and was renting it out to a EE whilst he went to live in India on the cheap.

He was getting £1200 p/m and his mortgage was £800 p/m

He is 11 months in mortgage arrears.

The EE moves out 2 months ago so  my work mate has no income coming in.

My ex-work mate is not working nor is his wife.

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19 hours ago, prozac said:

My ex-work mate is not working nor is his wife.

Oh dear! So he's pocketed the rent he was getting and living like a king in India?He's probably thinking that the lender cannot come after him while he's out of the UK.

What an idiot! He should have put the house on the market once the tenant handed in notice. But who's going to buy a house from some elusive person in another country?

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2 hours ago, MattW said:

Oh dear! So he's pocketed the rent he was getting and living like a king in India?He's probably thinking that the lender cannot come after him while he's out of the UK.

What an idiot! He should have put the house on the market once the tenant handed in notice. But who's going to buy a house from some elusive person in another country?

He did not make any money due to incompetence and how the situation unfolded 

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On 1/4/2019 at 7:20 PM, prozac said:

I know an ex-work mate, who may be losing his property.

Weird situation, he is of Indian origin and owns a property in Ruislip and was renting it out to a EE whilst he went to live in India on the cheap.

He was getting £1200 p/m and his mortgage was £800 p/m

He is 11 months in mortgage arrears.

The EE moves out 2 months ago so  my work mate has no income coming in.

My ex-work mate is not working nor is his wife.

So if the EE moved out 2 months ago, why is he in arrears for 11 months? Has he not been paying any?

Strange situation!

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9 minutes ago, modavid said:

So if the EE moved out 2 months ago, why is he in arrears for 11 months? Has he not been paying any?

Strange situation!

People do strange things 

he was in arrears before the EE moved in, and he had an arrangement with bank/building  society and now that arrangement became null

 

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On 20/01/2019 at 21:48, EnglishinWales said:

Foreigners renting to foreigners? This is why Britain is a mess. Why is there no decent regulation against this.

There is.

No bank should be lending money to people who do not have UK citizenship. Its insanely risky.

Then thers the whole IO speculating. Insane.

 

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On 3/31/2019 at 11:17 AM, spyguy said:

There is.

No bank should be lending money to people who do not have UK citizenship. Its insanely risky.

Then thers the whole IO speculating. Insane.

 

Do they??!! Seems illogical to me.

How can a bank give a 30 year "loan" to someone on a 2-year visa??!!

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On 20/01/2019 at 21:48, EnglishinWales said:

Foreigners renting to foreigners? This is why Britain is a mess. Why is there no decent regulation against this.

A touch racist for my liking mate 

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On 31/03/2019 at 11:17, spyguy said:

There is.

No bank should be lending money to people who do not have UK citizenship. Its insanely risky.

Then thers the whole IO speculating. Insane.

 

Surely the problem is that the Landlord lives in another country.  If he were British it would not be any safer.  Hopefully they asked for a big deposit and the bank will not lose any money.

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On 10/04/2019 at 10:33, thewig said:

A touch racist for my liking mate 

Xenophobic if anything, but why? The OP highlights one issue of foreign ownership of property, there are many more.

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On 3/31/2019 at 11:17 AM, spyguy said:

There is.

No bank should be lending money to people who do not have UK citizenship. Its insanely risky.

Then thers the whole IO speculating. Insane.

 

i have heard a pole say if he gets into trouble he'll just **** off back to Poland...he had a mortgage here...Austrian speaking to the other day has a mortgage...here

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18 minutes ago, Spindler said:

i have heard a pole say if he gets into trouble he'll just **** off back to Poland...he had a mortgage here...Austrian speaking to the other day has a mortgage...here

Oh I know.

Ive hard of people akign these loans on.

They tend to get them from smaller banks who have not grasped the risk.

'Hello, we are looking for Pavel. He lives in Warsaw. He's defaulted on 400k of mortgage and we cannot find him.'

 

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Speaking as a landlord (boo hiss) - I would very much like tenants to be made aware of whether the landlord on a property is UK resident for tax purposes or not. If they pay tax in UK there is a natural incentive to look after the tenant and the property. If not, then my experience is they try to squeeze out every penny. 

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13 minutes ago, PeanutButter said:

Speaking as a landlord (boo hiss) - I would very much like tenants to be made aware of whether the landlord on a property is UK resident for tax purposes or not. If they pay tax in UK there is a natural incentive to look after the tenant and the property. If not, then my experience is they try to squeeze out every penny. 

and colleague has had a nightmare with non resident landlord in US who won't share contact details...letting agent needs LL approval everytime to sort reapirs.....blown electrics....heating down for a week and then again.....the bloke is paying thebastard and acting as caretaker the pile of **** he is renting out

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40 minutes ago, PeanutButter said:

Speaking as a landlord (boo hiss) - I would very much like tenants to be made aware of whether the landlord on a property is UK resident for tax purposes or not. If they pay tax in UK there is a natural incentive to look after the tenant and the property. If not, then my experience is they try to squeeze out every penny. 

The correct spelling / pronunciation is DEBTjunkie scumbag 

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5 hours ago, thewig said:

The correct spelling / pronunciation is DEBTjunkie scumbag 

i think every tenant should know if a landlord owns outright or is mortgaged up to the gills......

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so as to avoid being in the middle of a repossesion by the lender...when it turns out the Landlord isnt the big swinging Rentier they make themselves out to be...just a risk taker with other peoples money or conjured up quantitive easing via the BoE

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On 1/20/2019 at 9:48 PM, EnglishinWales said:

Foreigners renting to foreigners? This is why Britain is a mess. Why is there no decent regulation against this.

if you are not resident you should hve no right to buy property but they wanted all that money to be laundered...this country is as corrupt as any banana republic

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20 minutes ago, thewig said:

Not money, DEBT. It’s created out of thin air as far as I can GLEAN...

If the sheeple ever work that one out, the powers that be should be very worried, there will be torches and pitchforks ... or the modern day equivalent .... which would be mobiles and plastic spawks I guess?! ... So perhaps are Overlords are sadly safe after all? 🤔

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  • 294 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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