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gruffydd

Massive Mortgages And Job Insecurity -

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http://www.thisisstaffordshire.co.uk/displ...&folderPk=87595

Sarah Da Silva, founder of Newcastle employment agency Da Silva Recruitment, said she has noticed workers have seen increased levels of pressure as a direct result of rising property prices and increased debt levels.

She said: "There are lots of people that work two jobs just to meet the cost of living. When people send their CVs to me that have been made redundant, the first thing they say is 'I have got a mortgage to pay'."

"People are more transient when it comes to working and tend to change every two or three years, and redundancies are also prominent in industries like manufacturing. Meanwhile, they are spending beyond their means on credit cards."

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She said: "There are lots of people that work two jobs just to meet the cost of living. When people send their CVs to me that have been made redundant, the first thing they say is 'I have got a mortgage to pay'."

Their CVs have been made redundant?

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One of the things I did, was to reduce any other debts I had. To me, it's all about managing the risk of losing your job (which, in truth isn't alwaya bad experience!). In a time when pay rises are poor, reducing your monthly outgoings is a good way to give yourself a decent payrise too.

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http://www.thisisstaffordshire.co.uk/displ...&folderPk=87595

Sarah Da Silva, founder of Newcastle employment agency Da Silva Recruitment, said she has noticed workers have seen increased levels of pressure as a direct result of rising property prices and increased debt levels.

She said: "There are lots of people that work two jobs just to meet the cost of living. When people send their CVs to me that have been made redundant, the first thing they say is 'I have got a mortgage to pay'."

"People are more transient when it comes to working and tend to change every two or three years, and redundancies are also prominent in industries like manufacturing. Meanwhile, they are spending beyond their means on credit cards."

What about the other ones, do they say "don't worry about me, there's rent yeah, but who cares about that"?

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Rent doesn't matter so much - it's much easier to leave a rented property, emotionally and financially and with no dependence on a sucker to come along and buy at your (currently) over-inflated price. So having a mortgage IS more of a worry than rent. I think we can safely ditto your post for every city, town and village in the country gruffyd, now where does that lead us I wonder, duh. ;)

Edited by Badger

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Rent doesn't matter so much - it's much easier to leave a rented property, emotionally and financially and with no dependence on a sucker to come along and buy at your (currently) over-inflated price. So having a mortgage IS more of a worry than rent. I think we can safely ditto your post for every city, town and village in the country gruffyd, now where does that lead us I wonder, duh. ;)

Fair enough as long as they don't play poor tenant & refuse to leave the property. The day a tenant tells me they can't pay the rent is the day I smile & tell them they're free to go then. No use trying to squeeze blood from a stone.

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Fair enough as long as they don't play poor tenant & refuse to leave the property. The day a tenant tells me they can't pay the rent is the day I smile & tell them they're free to go then. No use trying to squeeze blood from a stone.

If the housing association tells them that they have to stay until you evict them or they'll be classed as "intentionally homeless", won't it take you six months of lost rent to get them out?

Billy Shears

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Fair enough as long as they don't play poor tenant & refuse to leave the property. The day a tenant tells me they can't pay the rent is the day I smile & tell them they're free to go then. No use trying to squeeze blood from a stone.

IIRC, you cannot evict whilst they are waiting for the Housing Benefit to come through, which is a few months waiting time.

This alone will be making quite an impact on the BTL sector I guess.

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If the housing association tells them that they have to stay until you evict them or they'll be classed as "intentionally homeless", won't it take you six months of lost rent to get them out?

Billy Shears

Housing associations don't advise potentially homeless people BS. That really exposes your limited knowledge.

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Housing associations don't advise potentially homeless people BS. That really exposes your limited knowledge.

You're right. It's more likely to be the Housing Advice centre of the local council, the name of which varies according to the council.

So now that the split hairs have been dealt with, I repeat my question. If you get some tenants who can't pay the rent, you said that you would smile and tell them that they are free to go. But if the tenants are advised (doesn't matter by who) that they will be classed as intentionally homeless if they don't stay all the way through the eviction process, won't it take you six months of lost rent to get them out?

Billy Shears

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You're right. It's more likely to be the Housing Advice centre of the local council, the name of which varies according to the council.

So now that the split hairs have been dealt with, I repeat my question. If you get some tenants who can't pay the rent, you said that you would smile and tell them that they are free to go. But if the tenants are advised (doesn't matter by who) that they will be classed as intentionally homeless if they don't stay all the way through the eviction process, won't it take you six months of lost rent to get them out?

Billy Shears

That sounds about right to me.

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You're right. It's more likely to be the Housing Advice centre of the local council, the name of which varies according to the council.

So now that the split hairs have been dealt with, I repeat my question. If you get some tenants who can't pay the rent, you said that you would smile and tell them that they are free to go. But if the tenants are advised (doesn't matter by who) that they will be classed as intentionally homeless if they don't stay all the way through the eviction process, won't it take you six months of lost rent to get them out?

Billy Shears

Of cause it will. TTRTR is trying to paint a glossy picture of rent being more required and profitable in bad times. In actual fact those bad times he should fear. A few tenants doing that could take him to the wall.

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You're right. It's more likely to be the Housing Advice centre of the local council, the name of which varies according to the council.

So now that the split hairs have been dealt with, I repeat my question. If you get some tenants who can't pay the rent, you said that you would smile and tell them that they are free to go. But if the tenants are advised (doesn't matter by who) that they will be classed as intentionally homeless if they don't stay all the way through the eviction process, won't it take you six months of lost rent to get them out?

Billy Shears

Firstly for the most part this doesn't apply to me as most of my tenants are non EU foreigners and aren't able to claim housing benefit. They are more likely to want to leave when unable to replace their employment.

Secondly, although I've heard of the practise you speak of a few years ago, it's my understanding that it's strongly discouraged now as it is not only damaging to the tenants personal credit rating, but also to the councils housing schemes. My understanding is that councils are now doing their best to keep the tenant in their current accomodation by putting them on benefit & paying the rent for them.

This is only hearsay from landlords meetings I've attended, so you'll have to accept my apology if it seems vague.

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Firstly for the most part this doesn't apply to me as most of my tenants are non EU foreigners and aren't able to claim housing benefit. They are more likely to want to leave when unable to replace their employment.

Secondly, although I've heard of the practise you speak of a few years ago, it's my understanding that it's strongly discouraged now as it is not only damaging to the tenants personal credit rating, but also to the councils housing schemes. My understanding is that councils are now doing their best to keep the tenant in their current accomodation by putting them on benefit & paying the rent for them.

This is only hearsay from landlords meetings I've attended, so you'll have to accept my apology if it seems vague.

exposing your limited knowledge now ?

watch out folks, no thread is safe from the "GURU" with too much time on his hands.

TTRTR, if you're going to post, post something that adds to the debate, not just Me Me Me, yadda yadda, Me Me Me.

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TTRTR, if you're going to post, post something that adds to the debate, not just Me Me Me, yadda yadda, Me Me Me.

Actually I think he was meaning to say "Me me me, Yoda Yoda, me me me." So, he's not entirely self-centered.

Billy Shears

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exposing your limited knowledge now ?

watch out folks, no thread is safe from the "GURU" with too much time on his hands.

TTRTR, if you're going to post, post something that adds to the debate, not just Me Me Me, yadda yadda, Me Me Me.

Sorry, I didn't realise this was a forum full of experts. I thought it was just a daft place where tenants hung out.

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What you doing here then? Have you been secretly renting all this time and hadn't told us?

Maybe Phaedrus has hit the nail on the head and TTRTR is a Rent Boy! :blink:

That would explain why he has so much free time on his hands and the true meaning of his name.

Just a thought.

Okay, getting my coat. ;)

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Sorry, I didn't realise this was a forum full of experts. I thought it was just a daft place where tenants hung out.

then you should read more of the threads you hijack.......there are quite a few intelligent posters from who you could learn a lot.

as for manners, your parents should have done that job.

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"the first thing they say is 'I have got a mortgage to pay'.""

Right.

They overpaid, and took on too much debt, oblivious to the risk,

and now it seems that they want to jump the cue in fromt of mere renters.

Sorry, but the mortgage is not going to help their job prospects, but it WILL reduce

their future flexibility.

Some lessons can only be learned the hard way

With respect, that's almost certainly not true for most people.

It does not matter whether you bought in 1995, 1999, 2001 or 2005, you still have the mortgage to pay and need an income to do it. If you have no job, any debt is too much debt be it a lhefty or a small mortgage. It does not help rational discussion to simply come out with that sort of populist (on here) stuff. What has their job status today got to do with their level of historically accrued debt ?

Jumping the queue is also nonsense, in fact you could go the other way and say a mortgagor is a person who is more likely to stay in the job because they are not so fly by night as they have the baggage weighing them down. In effect, employers want you mortgaged to the eyeballs so you can't just leave on a whim.

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http://www.thisisstaffordshire.co.uk/displ...&folderPk=87595

Sarah Da Silva, founder of Newcastle employment agency Da Silva Recruitment, said she has noticed workers have seen increased levels of pressure as a direct result of rising property prices and increased debt levels.

She said: "There are lots of people that work two jobs just to meet the cost of living. When people send their CVs to me that have been made redundant, the first thing they say is 'I have got a mortgage to pay'."

"People are more transient when it comes to working and tend to change every two or three years, and redundancies are also prominent in industries like manufacturing. Meanwhile, they are spending beyond their means on credit cards."

It will all end in tears.

Edited by eric pebble

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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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