Are the small time BTL scumbags the forced sellers that will accelerate the crash? Yes...yes, I think they are!!!!

[Si1]

15 minutes ago, NoHPCinTheUK said:

Same could be said for anyone? How many British students working aboard are paying their uni debts? 

but if/when they come back to UK they have to declare income and cough up, I believe. Unless they move to S.America permanently I don't think they can dodge them.

[NoHPCinTheUK]

2 minutes ago, Si1 said:

but if/when they come back to UK they have to declare income and cough up, I believe. Unless they move to S.America permanently I don't think they can dodge them.

Well you can hide from the system for as long as you want I think. I don’t really see how the taxman could find someone who moved back to EE/India etc. leaving £000 of debts behind. We often hear about people caught in the Caribbean/Dubai but they are usually involved in multimillion frauds. 

[Si1]

7 minutes ago, NoHPCinTheUK said:

Well you can hide from the system for as long as you want I think. I don’t really see how the taxman could find someone who moved back to EE/India etc. leaving £000 of debts behind. We often hear about people caught in the Caribbean/Dubai but they are usually involved in multimillion frauds. 

indeed. But they can never come back to the UK. Ever.

[slawek]

1 hour ago, henry the king said:

Which is why I am sure housing in the UK will only go up in the long term.

However, I still think we are in a short term bubble. Long term though, migration is only going to increase and housing/land in the UK will get more and more desirable.  

I believe we will have a crash out of this bubble but long term I think the pressures on housing are only upwards.

That was sarcasm. Immigration has contribute virtually zero, if any, to the current high prices. It doesn't have impact in a longer term as more houses are build. 

The UK population was growing up but house prices are lower than in 19th century. 

 

 

[Dyson Fury]

22 hours ago, highcontrast said:

Obviously that's just one thread on a forum, but also has come from reading comments on numerous newspaper articles/internet site comments, where basically the small time landlord is planning on selling up ASAP. I've not checked the pro BTL sites like Property118 etc but I'm sure there will be similar posts.

Indeed. 

https://www.property118.com/theres-nothing-that-will-stop-landlord-sales-agency-from-getting-your-property-portfolios-sold-in-just-19-days/

Part of what "Landlord Sales Agency" offer is the ability for a landlord to sell a tenanted property to another landlord, at a mutually agreed price.  Now this is interesting, because a few years ago in 2015, Mark Alexander set up "Property118 Portal" to do exactly that.  He raised £150,000 through Seedrs, which gave punters only 10% of the equity:

https://www.seedrs.com/property118-portal-ltd

But quickly there was a "change in market conditions" and the Portal closed down. Some of the investors were not happy:

https://www.housepricecrash.co.uk/forum/index.php?/topic/205642-btl-scum-regrouping-and-on-the-offensive-merged/&do=findComment&comment=1102928936

The company went into voluntary liquidation in 2018.

 

[highcontrast]

2 hours ago, Dyson Fury said:

Indeed. 

https://www.property118.com/theres-nothing-that-will-stop-landlord-sales-agency-from-getting-your-property-portfolios-sold-in-just-19-days/

Part of what "Landlord Sales Agency" offer is the ability for a landlord to sell a tenanted property to another landlord, at a mutually agreed price.  

So a "We by any BTL portfolio" type thing then?...hmmm, what does that tell you about the BTL market? Forced sellers indeed.

Love the super bearish blurb though:

"

Last year, because interest rates were so low and many landlords were incorporating, landlords weren’t thinking of selling. This year however tells a completely different story. Mortgages have shot up following high interest rates, leaving an innumerable amount of landlords with impossibly large bills.

The bottom line is: some landlords need to sell. As a landlord myself, I’ve also been living and breathing this, having had to personally downsize by selling 75 properties and keeping 20 for now, but even I am considering downsizing further as I sit and watch the very likely possibility that house prices might drop by the end of the year.

"

 

2 hours ago, Dyson Fury said:

Now this is interesting, because a few years ago in 2015, Mark Alexander set up "Property118 Portal" to do exactly that.  He raised £150,000 through Seedrs, which gave punters only 10% of the equity:

https://www.seedrs.com/property118-portal-ltd

But quickly there was a "change in market conditions" and the Portal closed down. Some of the investors were not happy:

https://www.housepricecrash.co.uk/forum/index.php?/topic/205642-btl-scum-regrouping-and-on-the-offensive-merged/&do=findComment&comment=1102928936

The company went into voluntary liquidation in 2018.

Lol...oh dear. All these BTL scumbags deserve each other.

[hurlerontheditch]

they found this thread!

 

take cover!

 

[Si1]

24 minutes ago, hurlerontheditch said:

they found this thread!

 

take cover!

 

are we going to get lots of semi-literate tw#t-posts from poster names involving combinations of the words 'inquisitive', 'thoughtful', 'logical', 'thinker', from people who are anything but?

[highcontrast]

Ooh...our thread about their thread got mentioned on their thread! (P.5)

https://www.mumsnet.com/talk/property/4577781-if-you-are-a-landlord-are-you-thinking-of-selling-up?page=5

Helloooo Mumsnutters if you're reading! You must be crapping yourself if you're reading HPC!?

Better start insulating, evicting or selling up ASAP! Lolz.

 

Tick Tock.

 

 

[highcontrast]

On 01/07/2022 at 08:33, hurlerontheditch said:

they found this thread!

 

take cover!

 

Sorry @hurlerontheditch and @Si1 - i missed your posts! I'm so in the zone when I'm on HPC!

 

Edited July 2, 2022 by highcontrast

[highcontrast]

On 01/07/2022 at 09:00, Si1 said:

are we going to get lots of semi-literate tw#t-posts from poster names involving combinations of the words 'inquisitive', 'thoughtful', 'logical', 'thinker', from people who are anything but?

Lol.

[reginekierkegaard]

https://www.theguardian.com/money/2022/jul/01/no-10-considers-50-year-mortgages-that-could-pass-down-generations
 

You will never cease to amaze by the effort of the Tory government to top up the house price at all cost. It failed to socialise aspect of housing that requires it. It then went on to interfere with the free market and attempt to pop it up, every time the free market try to ‘auto correct’. So long as this continues to happen, BTL would remain highly profitable. They are now building all these build to rent in an industrial scale. 

[highcontrast]

3 minutes ago, reginekierkegaard said:

https://www.theguardian.com/money/2022/jul/01/no-10-considers-50-year-mortgages-that-could-pass-down-generations
 

You will never cease to amaze by the effort of the Tory government to top up the house price at all cost. It failed to socialise aspect of housing that requires it. It then went on to interfere with the free market and attempt to pop it up, every time the free market try to ‘auto correct’. So long as this continues to happen, BTL would remain highly profitable. They are now building all these build to rent in an industrial scale. 

Keep pumping the rhetoric won't you @reginekierkegaard

How many BTL do you own?

[Si1]

11 minutes ago, reginekierkegaard said:

https://www.theguardian.com/money/2022/jul/01/no-10-considers-50-year-mortgages-that-could-pass-down-generations
 

You will never cease to amaze by the effort of the Tory government to top up the house price at all cost. It failed to socialise aspect of housing that requires it. It then went on to interfere with the free market and attempt to pop it up, every time the free market try to ‘auto correct’. So long as this continues to happen, BTL would remain highly profitable. They are now building all these build to rent in an industrial scale. 

It will never cease to amaze me the clichéd language used by property VI bulls who think it makes them sound clever 

[BaldED]

2 hours ago, highcontrast said:

Ooh...our thread about their thread got mentioned on their thread! (P.5)

https://www.mumsnet.com/talk/property/4577781-if-you-are-a-landlord-are-you-thinking-of-selling-up?page=5

Helloooo Mumsnutters if you're reading! You must be crapping yourself if you're reading HPC!?

Better start insulating, evicting or selling up ASAP! Lolz.

 

Tick Tock.

 

 

Lol  🤣 

[highcontrast]

Meanwhile, over at Martin Lewis HQ:

https://forums.moneysavingexpert.com/discussion/6367170/looking-to-buy-a-house-but-price-and-interest-rates-making-me-overthink

Looking to buy a house but price and interest rates making me overthink

I wonder how many others are thinking the same thing? 🤔

 

 

P.S. There is an interesting discussion about BTL scumbags exiting here:

https://forums.moneysavingexpert.com/discussion/6367170/looking-to-buy-a-house-but-price-and-interest-rates-making-me-overthink/p8

 

[Mancunian284]

https://www.mumsnet.com/talk/am_i_being_unreasonable/4581392-my-landlords-unable-to-absorb-cost-of-living-increase
 

Won’t someone think of the poor landlords.  

[spyguy]

11 hours ago, Mancunian284 said:

https://www.mumsnet.com/talk/am_i_being_unreasonable/4581392-my-landlords-unable-to-absorb-cost-of-living-increase
 

Won’t someone think of the poor landlords.  

Longleggedgiraffe

I'm a landlord. I own one property to let out. I care for my tenants and make sure repairs are done promptly. Your words which cast virtually every landlord in a bad light upsets me deeply. One lot of repairs wiped out a whole month's rent and left me out of pocket. The rent for me is the difference between just managing and being able to afford a few little luxuries. We know tenants are having a hard time but it shouldn't be expected that Landlords should automatically pick up the increase in cost of living for their tenants. We provide a service. Services have to be paid for by the users. We're people too and I 'm fed up of people trying to treat us as Cash Cows. There has to be a middle road somewhere.

 

 

Really should not be a LL. They are totally potless.

 

[shlomo]

1 hour ago, spyguy said:

Longleggedgiraffe

I'm a landlord. I own one property to let out. I care for my tenants and make sure repairs are done promptly. Your words which cast virtually every landlord in a bad light upsets me deeply. One lot of repairs wiped out a whole month's rent and left me out of pocket. The rent for me is the difference between just managing and being able to afford a few little luxuries. We know tenants are having a hard time but it shouldn't be expected that Landlords should automatically pick up the increase in cost of living for their tenants. We provide a service. Services have to be paid for by the users. We're people too and I 'm fed up of people trying to treat us as Cash Cows. There has to be a middle road somewhere.

 

 

Really should not be a LL. They are totally potless.

 

Maybe he started as a LL and it became a hobby, that loses money but he doesn’t want to admit it

Edited July 3, 2022 by shlomo

[dances with sheeple]

15 hours ago, highcontrast said:

Meanwhile, over at Martin Lewis HQ:

https://forums.moneysavingexpert.com/discussion/6367170/looking-to-buy-a-house-but-price-and-interest-rates-making-me-overthink

Looking to buy a house but price and interest rates making me overthink

I wonder how many others are thinking the same thing? 🤔

 

 

P.S. There is an interesting discussion about BTL scumbags exiting here:

https://forums.moneysavingexpert.com/discussion/6367170/looking-to-buy-a-house-but-price-and-interest-rates-making-me-overthink/p8

 

https://forums.moneysavingexpert.com/discussion/6357302/fixed-rate-mortgages-below-2-axed-from-the-market-as-interest-rates-continue-to-rise/p11

[Si1]

2 hours ago, spyguy said:

Longleggedgiraffe

I'm a landlord. I own one property to let out. I care for my tenants and make sure repairs are done promptly. Your words which cast virtually every landlord in a bad light upsets me deeply. One lot of repairs wiped out a whole month's rent and left me out of pocket. The rent for me is the difference between just managing and being able to afford a few little luxuries. We know tenants are having a hard time but it shouldn't be expected that Landlords should automatically pick up the increase in cost of living for their tenants.

 

Wtf. Business risk. Moron.

2 hours ago, spyguy said:

 

 

We provide a service. Services have to be paid for by the users. We're people too and I 'm fed up of people trying to treat us as Cash Cows. There has to be a middle road somewhere.

 

 

Really should not be a LL. They are totally potless.

 

 

[slawek]

3 minutes ago, Si1 said:

Wtf. Business risk. Moron.

 

They are amateurs. They feel entitled and they can't understand why the world doesn't give them what they deserve.  

[spyguy]

23 minutes ago, Si1 said:

Wtf. Business risk. Moron.

 

 

15 minutes ago, slawek said:

They are amateurs. They feel entitled and they can't understand why the world doesn't give them what they deserve.  

We are barely on the the sunny,. grassy lowland of IR rises and the wheels are already blowing off their gormless business model.

Whats going to happen when IO BTL hit 6%, 7% 8%?

Whats goign to happen when bank start calling in their IO BTL loans.

 

 

 

[highcontrast]

51 minutes ago, Si1 said:

I 'm fed up of people trying to treat us as Cash Cows.

So much irony that it hurts.

[slawek]

23 minutes ago, spyguy said:

 

We are barely on the the sunny,. grassy lowland of IR rises and the wheels are already blowing off their gormless business model.

Whats going to happen when IO BTL hit 6%, 7% 8%?

Whats goign to happen when bank start calling in their IO BTL loans.

 

 

 

Many don't have a mortgage. They hold on to a previous or inherited property. As the costs of living are increasing they think that it is their right to increase rents to maintain their lifestyle. Any resistance from tenants is perceived almost as a theft.