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Where to begin...?

Following the announcement of another national lockdown, Paul Shamplina, founder of Landlord Action, says there is no end in sight for desperate landlords and there must now be government support:

https://propertyindustryeye.com/introduce-a-tenant-hardship-loan-fund-to-prevent-further-possession-action/

Majority of landlords pessimistic (despite the spin in the article heading):

https://propertyindustryeye.com/almost-half-of-btl-landlords-remain-optimistic-despite-potential-tax-hikes/

Special mention also to EAs bleating for Stamp Duty break extension:

https://propertyindustryeye.com/lockdown-leads-to-fresh-calls-for-stamp-duty-extension/

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Special mention also to EAs bleating for Stamp Duty break extension:

They can do one.

Alongside the Halifax and Nationwide, they've spent the last 6 months crowing about the beacon of hope that has been the insane rise in house prices and the resilience of the housing market across the pandemic.

Which is it boys and girls, make your mind up time?

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4 hours ago, telespy said:

Retirements in ruins: Cladding scandal sees buy-to-let investors left high and dry - with plans in tatters and properties almost worthless

😂😂

 

I don't want to hear bleating though. I want screaming, then whimpering, then silence 😊

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7 hours ago, Trump Invective said:

Everytime you hear, see or read a landlord sob story, this is the thread to report it!

 

This morning, Nick Ferrari, LBC

Its me pension, innit - though actually I just want my tenants out so I can sell - well before pension age! Some pension that!

Nick Ferrari, Gammon Emeritus.

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JUst a general note, but the amount of fear - much of it warranted, some of it just chancers - that bubbles up every time the thought of turning the taps off is mentioned, and lockdowns are reinstated, lets you know how precarious the economic position is. We really are in a false reality, with magic money the only game in town.

If there really was no issue, then we wouldn't have such panic

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6 minutes ago, zugzwang said:

Nick Ferrari, Gammon Emeritus.

I get embarrased when I find myself chuckling at his banter with an old crony, particularly that one from the business world David Buik.

It's like political correctness never happened. Its a guilty pleasure of mine, I have to admit it!

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1 hour ago, Trump Invective said:

I get embarrased when I find myself chuckling at his banter with an old crony, particularly that one from the business world David Buik.

It's like political correctness never happened. Its a guilty pleasure of mine, I have to admit it!

The first rule of Gammon Club is ....

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Urgent action needed to tackle rent debt crisis

https://propertyindustryeye.com/urgent-action-needed-to-tackle-rent-debt-crisis/

A number of leading organisations have united to issue a joint statement following the reintroduction of a national lockdown urging the government to get a grip on the mounting rent debt crisis.

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Around half a million private tenants in the UK are behind with their rent, according to research by Citizens Advice.

The average amount owed is more than £700, the charity says, and about a quarter of private renters in arrears have been threatened with eviction or cancellation of the their tenancy agreement by their landlord, the charity claims.

The joint statement , backed by organisations including the National Residential Landlords Association (NRLA), ARLA Propertymark, the Nationwide Building Society, Shelter, and StepChange Debt Charity, calls for a package of measures to help renters pay off arrears built since March last year when the initial lockdown started.

The joint statement said: “Many thousands of private renters and landlords across the country now face rent arrears due to the impact of the pandemic.

“Ministers have failed to address the core problem of debts which have built despite the financial package put in place so far. Indeed, the chancellor confirmed that housing benefit will not be linked to the cost of renting for future years.

“Renters, landlords and letting agents cannot be expected simply to muddle through indefinitely where they face these financial difficulties. The government needs to develop an urgent package to help renters in paying off arrears built since March last year.

“Without further action, debts will continue to mount, making it far more difficult to sustain tenancies and keep renters in their homes after the pandemic.”

 

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6 minutes ago, VancouverGuy said:

In other news, those people putting their retirement savings into balanced and diversified portfolios of stocks, bonds, REITs and preferred shares are ... well ... doing just nicely.

Yeah but BTLrs DID THE RIGHT THING AND NEED GOVT BAILOUT.

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4 hours ago, wighty said:

Dont forget they are providing a public service.

THEY DID THE RIGHT THING.

BORROWING LOTS OF MONEY IN YOUR 60s TO FUND YOUR RETIREMENT BY BETTING ON HOUSING INFLATION AND ARBITRAGING LOW INTEREST RATES AGAINST RENTAL INCOME WHILST HOPING TO GOD NOTHING GOES WRONG. IS DOING THE RIGHT THE RIGHT THING.

THE RIGHT THING.

GEDDIT.

(FROM THE UNIVERSITY OF LIFE)

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7 minutes ago, Si1 said:

THEY DID THE RIGHT THING.

BORROWING LOTS OF MONEY IN YOUR 60s TO FUND YOUR RETIREMENT BY BETTING ON HOUSING INFLATION AND ARBITRAGING LOW INTEREST RATES AGAINST RENTAL INCOME WHILST HOPING TO GOD NOTHING GOES WRONG. IS DOING THE RIGHT THE RIGHT THING.

THE RIGHT THING.

GEDDIT.

(FROM THE UNIVERSITY OF LIFE)

But, but, but,

Ten years ago these scum were, as we were told by the papers,

"Canny Investors snapping up bargains before prices rise again"

Now I know what canny means.

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On 06/01/2021 at 15:44, Peter Hun said:

I'll be damned if I visit that website, Now we have left the EU they violate GDPR and force you to accept 500 tacking cookies. I gave up after unselecting a hundred or so.

use brave or adblock ;)

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