Jump to content
House Price Crash Forum
Sign in to follow this  
DoubleBubbleTrouble

Anecdotal - Friends House, Chain 2...

Recommended Posts

Just chatting to a friend in London who's selling their house (nice place 4 bedroom job).

Their first chain broke down before Christmas, on the second chain and he mentioned it's been stalled a couple times so I asked why.

Apparently the people buying his house had their buyer pull out on them. So those people are going to rent out their place instead of selling it and are switching it to a BTL mortgage... then taking out a new mortgage to move up. That plan was chosen as 'BTL was quickest way of the 'chain' being re-established and keeping momentum up.' He's just happy some mug is buying their place.

I wonder how many people are being forced into this position right now. It may well explain the increase in BTL mortgages as well as the increasing interest of Big Mortgage (as in Big Tobacco... you know, all the usual suspects) to get into this business.

Share this post


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...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 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.