Jump to content
House Price Crash Forum

Recommended Posts

2 hours ago, PeanutButter said:

Just a reminder that this situation can actually suck for any renters left in the property. I wish they were protected better. 

Okay yes agreed. But we need distressed sellers for prices to fall. I think key.

Link to post
Share on other sites
6 hours ago, PeanutButter said:

Just a reminder that this situation can actually suck for any renters left in the property. I wish they were protected better. 

There ought to be some mechanism in place whereby the renters can continue to pay rent to the mortgagee for a period of time, once they get ownership of the property. It would buy some extra time for them.

Link to post
Share on other sites
1 hour ago, MattW said:

There ought to be some mechanism in place whereby the renters can continue to pay rent to the mortgagee for a period of time, once they get ownership of the property. It would buy some extra time for them.

They do.

Me n aunty got my cuz a nice 1 br flat when he came out of jail in 17. We put up 6 months rent @ 300/m.

Aunty rings me in tears 2 months later- LL been repaid. Cuz has to move out.

3 years later, bar letting in an EA photographer, cuz is still there. No interest.

Rent gets paid to EA, who pay LPA.

Everyone else stopped paying rent and kept the HB. One for 12 months. Then used the money to move flat. New LL did not care - as long as his rents paid.

Bank does not carr. It's out in LL account.

Coz would not. Still on license.

Dog eat dog.

Link to post
Share on other sites
50 minutes ago, spyguy said:

They do.

Me n aunty got my cuz a nice 1 br flat when he came out of jail in 17. We put up 6 months rent @ 300/m.

Aunty rings me in tears 2 months later- LL been repaid. Cuz has to move out.

3 years later, bar letting in an EA photographer, cuz is still there. No interest.

Rent gets paid to EA, who pay LPA.

Everyone else stopped paying rent and kept the HB. One for 12 months. Then used the money to move flat. New LL did not care - as long as his rents paid.

Bank does not carr. It's out in LL account.

Coz would not. Still on license.

Dog eat dog.

Are you eminem??

 

Link to post
Share on other sites

Lovely rise in BTL repossessions, OO ones still make me feel bad although I know you have to go some to get your home repossessed. BUT, in general, strikes me as a bit of post-peak ramping, trying to get buyers into the market as if 'below market' prices weren't still hilariously high and in need of massive correction.

Link to post
Share on other sites
1 hour ago, North London Rent Girl said:

Lovely rise in BTL repossessions, OO ones still make me feel bad although I know you have to go some to get your home repossessed. BUT, in general, strikes me as a bit of post-peak ramping, trying to get buyers into the market as if 'below market' prices weren't still hilariously high and in need of massive correction.

Spot on.  "Come on dithering buyers, there's BARGAINS to be had in them slaveboxes"

If those of us on the fence buy now then the market doesn't drop any lower.

Edited by stop_the_craziness
expansion of a point
Link to post
Share on other sites
2 hours ago, North London Rent Girl said:

Lovely rise in BTL repossessions, OO ones still make me feel bad although I know you have to go some to get your home repossessed. BUT, in general, strikes me as a bit of post-peak ramping, trying to get buyers into the market as if 'below market' prices weren't still hilariously high and in need of massive correction.

OO repost are very rare.

Banks have to bend over backward before repoing - suspend repayments, extend term.

Any OO repo has to be an indebted  idiot

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 417 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.