Mikhail Liebenstein Posted October 12, 2021 Share Posted October 12, 2021 Interesting article from the Telegraph: https://www.telegraph.co.uk/property/buy-to-let/low-interest-rates-thing-landlords-had-left-now-losing/ But apparently they can raise rents: Quote Landlords have warned of rising rents and a shortage of lets if mortgage rates rise as predictedlater this year. Record-low interest rates has served as the last line of defence, that has masked punishing and costly tax and regulatory changes faced by landlords. However, investors now face the biggest surge in mortgage costs since the property market collapse in 2008 as central bankers rein in inflation. Peter How, a landlord with around 40 properties in Yorkshire, said cheap mortgages had given landlords "margin to balance the books" and warned a rise in borrowing costs would mean "big trouble". "The only thing we have working in our favour right now is low interest rates. "A big rise in rents will be the only way for those landlords only just breaking even to carry on. Either that or landlords will sell up and there will be even fewer rental properties on the market, which will also push up rents," said Mr How. Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 12, 2021 Share Posted October 12, 2021 Quote Link to comment Share on other sites More sharing options...
Freki Posted October 12, 2021 Share Posted October 12, 2021 Ahhh, rents went down with the rates. I may have missed something those past 10 years. Quote Link to comment Share on other sites More sharing options...
Frugal Git Posted October 12, 2021 Share Posted October 12, 2021 “Either that or landlords will sell up and there will be even fewer rental properties on the market, which will also push up rents," 😂😂😂😂 Why does no one ever ask these idiots who make that statement … …. “who will they sell to?” and then watch the confusion spread across their face. Quote Link to comment Share on other sites More sharing options...
koala_bear Posted October 12, 2021 Share Posted October 12, 2021 And yet some are getting into or adding more BTL. While walking past an overpriced new build development of flats yesterday, a firm of specialist BTL furniture suppliers were busy unloading two vans. (SW London) Someone obviously not reading the Telegraph! (Or any sensible info source either) Quote Link to comment Share on other sites More sharing options...
Pop321 Posted October 12, 2021 Share Posted October 12, 2021 I think this crying poverty is systemic across the whole of the UK now. Energy companies couldn’t possible have any reserves to manage a rise in prices, furlough for employers and employees, universal credits reduced and poor landlords costs rising. There will be some real hardships going on but the truly needy will get lost amongst the cries because everyone seems want money from the government. Some need it to survive, others who shout just as much want it to maintain margins and excesses they have enjoyed. The tricky bit is trying to find the difference. Quote Link to comment Share on other sites More sharing options...
oatbake Posted October 12, 2021 Share Posted October 12, 2021 (edited) 32 minutes ago, Frugal Git said: ““who will they sell to?” I have actually. They normally just point out that their tenants could not afford to buy them (at the price they want). At some point the penny will drop... Edited October 12, 2021 by oatbake Removed irrelevant quotey bits... Quote Link to comment Share on other sites More sharing options...
PropertyMania Posted October 12, 2021 Share Posted October 12, 2021 what's this about holiday lets not being subject to the BTL tax changes? Can someone elaborate please Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 12, 2021 Share Posted October 12, 2021 30 minutes ago, Pop321 said: I think this crying poverty is systemic across the whole of the UK now. Energy companies couldn’t possible have any reserves to manage a rise in prices, furlough for employers and employees, universal credits reduced and poor landlords costs rising. There will be some real hardships going on but the truly needy will get lost amongst the cries because everyone seems want money from the government. Some need it to survive, others who shout just as much want it to maintain margins and excesses they have enjoyed. The tricky bit is trying to find the difference. “I have a problem, it is the Government's job to cope with it!” or “I have a problem, I will go and get a grant to cope with it!” “I am homeless, the Government must house me!” and so they are casting their problems on society and who is society? There is no such thing! There are individual men and women and there are families and no government can do anything except through people and people look to themselves first." Quote Link to comment Share on other sites More sharing options...
Dorkins Posted October 12, 2021 Share Posted October 12, 2021 (edited) . Edited October 12, 2021 by Dorkins Quote Link to comment Share on other sites More sharing options...
satsuma Posted October 12, 2021 Share Posted October 12, 2021 1 hour ago, Frugal Git said: “Either that or landlords will sell up and there will be even fewer rental properties on the market, which will also push up rents," 😂😂😂😂 Why does no one ever ask these idiots who make that statement … …. “who will they sell to?” and then watch the confusion spread across their face. But, but, but prices never fall I hear them say as they stumble over their words while coming to the realisation that the unthinkable has happened and their shitty collection of BTL shitboxes is worth less than they owe. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 12, 2021 Share Posted October 12, 2021 2 hours ago, Mikhail Liebenstein said: Interesting article from the Telegraph: https://www.telegraph.co.uk/property/buy-to-let/low-interest-rates-thing-landlords-had-left-now-losing/ But apparently they can raise rents: Where's @thewig? Quote Link to comment Share on other sites More sharing options...
spyguy Posted October 12, 2021 Share Posted October 12, 2021 (edited) If they put up rents then they pay more tax. This post had all the info in Edited October 12, 2021 by spyguy Quote Link to comment Share on other sites More sharing options...
Mikhail Liebenstein Posted October 12, 2021 Author Share Posted October 12, 2021 (edited) 56 minutes ago, TheCountOfNowhere said: Where's @thewig? MIA for six and a bit years! Edited October 12, 2021 by Mikhail Liebenstein Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted October 12, 2021 Share Posted October 12, 2021 Leaching zombies must die. Quote Link to comment Share on other sites More sharing options...
winkie Posted October 13, 2021 Share Posted October 13, 2021 Nobody is forced to be a landlord......cash in the chips and run. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 13, 2021 Share Posted October 13, 2021 2 hours ago, winkie said: Nobody is forced to be a landlord......TRY AND cash in the chips and run. The sane landlords would have been cashing in their chips since the 2008 bailouts started Quote Link to comment Share on other sites More sharing options...
Huggy Posted October 13, 2021 Share Posted October 13, 2021 Millions of man hours watching HUTH has rotted away these poor peoples' minds. I might snap up one of their investments at 80% of cost later next year or the year after. I'll start at 85% maybe if I need to repaint it. Quote Link to comment Share on other sites More sharing options...
Pop321 Posted October 13, 2021 Share Posted October 13, 2021 19 minutes ago, Huggy said: Millions of man hours watching HUTH has rotted away these poor peoples' minds. I might snap up one of their investments at 80% of cost later next year or the year after. I'll start at 85% maybe if I need to repaint it. 80% sounds like an offer these ‘we buy any home’ companies offer. You need to wait until they too have disappeared and you can offer 60%. 😆😉 Quote Link to comment Share on other sites More sharing options...
Huggy Posted October 13, 2021 Share Posted October 13, 2021 28 minutes ago, Pop321 said: 80% sounds like an offer these ‘we buy any home’ companies offer. You need to wait until they too have disappeared and you can offer 60%. 😆😉 Oops, I misspoke. I meant to say 80% off the cost. A 20% or even 40% discount isn't even enough to call it a correction, let alone a crash sadly Quote Link to comment Share on other sites More sharing options...
Pop321 Posted October 13, 2021 Share Posted October 13, 2021 11 minutes ago, Huggy said: Oops, I misspoke. I meant to say 80% off the cost. A 20% or even 40% discount isn't even enough to call it a correction, let alone a crash sadly 😉. That makes more sense. Quote Link to comment Share on other sites More sharing options...
wighty Posted October 13, 2021 Share Posted October 13, 2021 14 hours ago, Frugal Git said: “Either that or landlords will sell up and there will be even fewer rental properties on the market, which will also push up rents," 😂😂😂😂 Why does no one ever ask these idiots who make that statement … …. “who will they sell to?” and then watch the confusion spread across their face. Probably a FTB or another BTL LL. Cheap housing needing refurbishing (which rentals usually are) are in demand. Quote Link to comment Share on other sites More sharing options...
robson1111 Posted October 13, 2021 Share Posted October 13, 2021 16 hours ago, Pop321 said: There will be some real hardships going on but the truly needy will get lost amongst the cries because everyone seems want money from the government. Pop 100% agree. There is a newiwh phenomenon whereby for many people if their life is not perfect they thin k the govt ie taxpayer has to make it all perfect for them. It is the entitled mentality. It is never their responsibility to think what they can do for themselves. Quote Link to comment Share on other sites More sharing options...
robson1111 Posted October 13, 2021 Share Posted October 13, 2021 2 hours ago, wighty said: Probably a FTB or another BTL LL. Or Lloyds of one of the other corporate who want to get into lettings Quote Link to comment Share on other sites More sharing options...
fellow Posted October 13, 2021 Share Posted October 13, 2021 Does anyone actually believe interest rates will rise? Rate rises have been predicted so many times but it never happens. Quote Link to comment Share on other sites More sharing options...
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