TheCountOfNowhere Posted November 10, 2020 Share Posted November 10, 2020 Banks set to repossess substantial number of buy to lets - claim https://www.landlordtoday.co.uk/breaking-news/2020/11/banks-set-to-repossess-substantial-number-of-buy-to-lets--claim Quote Link to comment Share on other sites More sharing options...
24gray24 Posted November 10, 2020 Share Posted November 10, 2020 They've held off so far... The costs are so backlogged it will take till spring to have any impact at all...if it's even true. It's probably just propaganda to tell landlords to resume paying their mortgages. Quote Link to comment Share on other sites More sharing options...
MARTINX9 Posted November 10, 2020 Share Posted November 10, 2020 I would tax them all into oblivion - all they do is leech off hard working productive young people priced out like nurses or carers or leech off the taxpayer in respect of those on low incomes or benefits. Councils or first time buyers can get them on the cheap thus providing secure long term housing for a family or young person. I had a neighbour opposite in my block who was a nurse a couple of years ago - her landlord wanted to put her rent up by £150 a month and she couldn't afford it so she had to move out. There is a special place in hell reserved for that landlord! Quote Link to comment Share on other sites More sharing options...
msi Posted November 10, 2020 Share Posted November 10, 2020 BTL is a commercial arrangement, so courts will look on this with a hard nose. If lenders get really nervous, they'll create a pre-packaged repo route (think mechanical slaughter house for BTL scumlords) Key take away is here (my highlighting) "Even more ominously, the firm says that for many landlords, who are already entering month 10 of no rental income following the earlier eviction bans, these further delays could prove a bridge too far. Te goodwill of mortgage lenders will only stretch so far. Without further government support or regulation, we anticipate an increase in the numbers of banks taking possession of buy to let properties, either through the courts or via Law of Property Act receivers. " Quick us Entrepreneurs are being 'rapped' - give us more props Quote Link to comment Share on other sites More sharing options...
msi Posted November 10, 2020 Share Posted November 10, 2020 I would tax them all into oblivion - all they do is leech off hard working productive young people priced out like nurses or carers or leech off the taxpayer in respect of those on low incomes or benefits. Councils or first time buyers can get them on the cheap thus providing secure long term housing for a family or young person. I had a neighbour opposite in my block who was a nurse a couple of years ago - her landlord wanted to put her rent up by £150 a month and she couldn't afford it so she had to move out. There is a special place in hell reserved for that landlord! ...anonymous tip to HMRC for 'suspected undeclared rental income' HMRC Fraud Hotline Has S24 been removed now? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 10, 2020 Author Share Posted November 10, 2020 Wont anyone think of the accidental landlords who: accidentally tried to sell their own home but couldn't accidentally arranged to buy a 2nd home even though the first wouldn't sell accidentally arranged a mortgage on the 2nd home based on equity from the first accidentally signed all the paperwork accidentally appointed a letting agent accidentally forgot to tell the mortgage company they were letting it out accidentally took the money every month. Those poor accidental land lords. Quote Link to comment Share on other sites More sharing options...
msi Posted November 10, 2020 Share Posted November 10, 2020 Wont anyone think of the accidental landlords who: accidentally tried to sell their own home but couldn't accidentally arranged to buy a 2nd home even though the first wouldn't sell accidentally arranged a mortgage on the 2nd home based on equity from the first accidentally signed all the paperwork accidentally appointed a letting agent accidentally forgot to tell the mortgage company they were letting it out accidentally took the money every month. Those poor accidental land lords. Have you been involved in a BTL purchase that wasn't your fault? Call our specialist team at 'F*** off and Pay' Quote Link to comment Share on other sites More sharing options...
Locke Posted November 10, 2020 Share Posted November 10, 2020 I would tax them all into oblivion All that needs to happen is to remove the unfair props which made their "business" model viable in the first place. S24 has gone a long way towards this and the effects are coming down the track like a proverbial freight train. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 10, 2020 Author Share Posted November 10, 2020 All that needs to happen is to remove the unfair props which made their "business" model viable in the first place. S24 has gone a long way towards this and the effects are coming down the track like a proverbial freight train. To do that means the people in power lose money. This is why we are where we are. It's collapse or nothing. The railway mania played out the same way. This is the house price mania. It's gone well beyond a just a bubble. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted November 10, 2020 Share Posted November 10, 2020 has to be a blow off top to cause a real HPC. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 10, 2020 Author Share Posted November 10, 2020 has to be a blow off top to cause a real HPC. Looks that way... On what planet does this happen... Quote Link to comment Share on other sites More sharing options...
Tapori Posted November 10, 2020 Share Posted November 10, 2020 Banks set to repossess substantial number of buy to lets - claim https://www.landlordtoday.co.uk/breaking-news/2020/11/banks-set-to-repossess-substantial-number-of-buy-to-lets--claim "The worm... HAS TURNED..!" Quote Link to comment Share on other sites More sharing options...
Unmoderated Posted November 10, 2020 Share Posted November 10, 2020 Mandatory landlord register demanded by Generation Rent activists https://www.landlordtoday.co.uk/breaking-news/2020/10/mandatory-landlord-register-is-latest-goal-for-generation-rent-activists?source=related_articles Quote Link to comment Share on other sites More sharing options...
spacedin Posted November 10, 2020 Share Posted November 10, 2020 Mandatory landlord register demanded by Generation Rent activists https://www.landlordtoday.co.uk/breaking-news/2020/10/mandatory-landlord-register-is-latest-goal-for-generation-rent-activists?source=related_articles Funny how most of the landlords in the comments are against such a register being adopted. Using the usual excuse that it will increase rents. Quote Link to comment Share on other sites More sharing options...
Si1 Posted November 10, 2020 Share Posted November 10, 2020 A sign of the moral hazard in the system. I mentioned this to a couple of boomers I know Actually decent people. They were genuinely surprised that repossessions were a thing any more, for residential or BTL!?! Quote Link to comment Share on other sites More sharing options...
Unmoderated Posted November 10, 2020 Share Posted November 10, 2020 Funny how most of the landlords in the comments are against such a register being adopted. Using the usual excuse that it will increase rents. A fricking taxi driver has more rigorous checks than a landlord. I worked in a college for a professional services company and had to be CRB checked, even that was more than a landlord gets. Call me old fashioned and principled but if people depend on you for a roof over their head they should be given some assurance that you're an upstanding citizen and solvent. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 10, 2020 Author Share Posted November 10, 2020 A sign of the moral hazard in the system. I mentioned this to a couple of boomers I know Actually decent people. They were genuinely surprised that repossessions were a thing any more, for residential or BTL!?! Now that, is a sign of the times. No one wants to find out what houses are actually worth. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 10, 2020 Author Share Posted November 10, 2020 A fricking taxi driver has more rigorous checks than a landlord. I worked in a college for a professional services company and had to be CRB checked, even that was more than a landlord gets. Call me old fashioned and principled but if people depend on you for a roof over their head they should be given some assurance that you're an upstanding citizen and solvent. Social housing should be done by society as a whole, otherwise remove housing benefits and have a free for all. Quote Link to comment Share on other sites More sharing options...
spacedin Posted November 10, 2020 Share Posted November 10, 2020 (edited) A fricking taxi driver has more rigorous checks than a landlord. I worked in a college for a professional services company and had to be CRB checked, even that was more than a landlord gets. Call me old fashioned and principled but if people depend on you for a roof over their head they should be given some assurance that you're an upstanding citizen and solvent. Aye, same with SIA, which requires a week long (full or part time course). Which makes me laugh as you're basically being trained to look after a building and the people in it but no such course for landlords. Security guards are also seen as unskilled labour too, not as 'professional' as landlords. Edited November 10, 2020 by spacedin Quote Link to comment Share on other sites More sharing options...
Former postman Posted November 10, 2020 Share Posted November 10, 2020 Round all BTL landlords up and line them up for the firing squad. Problem solved Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 10, 2020 Author Share Posted November 10, 2020 Round all BTL landlords up and line them up for the firing squad. Problem solved But but but... If they go the houses they own disappear Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted November 11, 2020 Share Posted November 11, 2020 Round all BTL landlords up and line them up for the firing squad. Problem solved No, worse than that, let Mr Market have his way with them. If you shoot them then their places would be taken by the next load if idiots; allow Mr Market publicly rob them of their wealth and credibility and nobody will want to go near BTL for a generation or two. Quote Link to comment Share on other sites More sharing options...
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