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jon

Conversation With Ea Today Re. Btl

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Was looking at a house today, the EA (ex-landlord of nearby pub) showing us round happened to be the owner of a rental property that we lived next door to about 6 months ago, so we had a good chat and he was perhaps a bit more open than an EA otherwise would be.

I was enquiring as to another property here, that sold in October 2003 for £299k as a BTL investment. Its NEVER had any tenants (when we looked at renting it, it was £1200 a month lol), and there doesn't appear to be much interest from buyers because of a large block of appartments overlooking the rear of the property.

He then went on to say that many of these same appartments had been bought for BTL speculation, and they were getting a lot of instructions to put them back on the market. When I asked why, he said that, unlike "professional" landlords, the forthcoming HMO regulations (and potential fines for non-compliance) would simply be too much hassle and money for the amateur landlords and they just wanted rid of them.

Interesting times ahead ?

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I was enquiring as to another property here, that sold in October 2003 for £299k as a BTL investment. Its NEVER had any tenants (when we looked at renting it, it was £1200 a month lol), and there doesn't appear to be much interest from buyers because of a large block of appartments overlooking the rear of the property.

He then went on to say that many of these same appartments had been bought for BTL speculation, and they were getting a lot of instructions to put them back on the market. When I asked why, he said that, unlike "professional" landlords, the forthcoming HMO regulations (and potential fines for non-compliance) would simply be too much hassle and money for the amateur landlords and they just wanted rid of them.

Interesting times ahead ?

The house is up for £395K, which if obtained would be a 96K profit. So the owner is still looking for a big gain over two years.

.... if they get asking price.

BTL is still going to look attractive while people are selling and getting big capital gains. It might take a long time before people are selling houses at a loss compared to what they paid for them.

Billy Shears

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The house is up for £395K, which if obtained would be a 96K profit. So the owner is still looking for a big gain over two years.

.... if they get asking price.

They've got to be joking! Looked it up on netprices cant be worth much more the 300k ?

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They've got to be joking! Looked it up on netprices cant be worth much more the 300k ?

I figure they're trying to make up for the all the rental void periods :P

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small world - my sister used to live 50 yards away - Duke's I think, overlooking the canal. You're not my brother in law are you?

I don't remember having a wife in Kingsmead. But then I am a bit forgetful sometimes ....

Seeing a few reductions on Monarch drive too ...

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  • 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%



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