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Bbc's Saraya Beg Diary

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Boo f****g hoo for her.

http://news.bbc.co.uk/1/hi/business/5118424.stm

"I am asset-rich and cash-poor, and that financial fragility is being exposed."

I think she's confusing assets with liabilities again. Poor thing.

"We discuss taking in lodgers, part-time working and even selling things on eBay."

Yeah.. worry about flogging your CDs and fine china, and bury your head in the sand about that £1m loss-making BTL enterprise. Did someone just move the deckchairs on the Titanic?

So it comes down to the obvious: selling a buy-to-let property.

The difficulty with this option is that it could take between two and six months for the sale to complete, so we need to find a way of balancing the budget while the sale completes.

Not forgetting, of course, that there will be hefty mortgages to pay off and sale fees.

My counsellor suggested that I approach my mortgage lenders and get them to switch me to an interest-only mortgage arrangement.

Emotional attachment to a failed business venture - churning out all the possible EXCUSES why she shouldn't sell her properties.

JESUS WEPT

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Bizzare??

VI stories helping to drive the asset bubble and sob stories about unmaintainable debt all on the same website...

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I notice I have become more sensitive to other people's financial concerns, even strangers, and find myself automatically offering a sympathetic ear just to let them speak out and get things off their chest.

Funny how that works. When the good times roll you don't even think about it.

B*tch!

Edited by powerswitch_gd

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"I notice I have become more sensitive to other people's financial concerns, even strangers..."

... I wonder how sensitive she is to the people renting out her BTL?

What pi@ses me off about her attitude is that she gives the impression that she's hard done by and up against it, while at the same time boasting about her BTL portfolio. Why couldn't the BBC find someone in exactly her position (pregnant, in debt, work worries etc) but who's renting? Oops, sorry - I forgot - nobody rents in the BBC...

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"I notice I have become more sensitive to other people's financial concerns, even strangers..."

... I wonder how sensitive she is to the people renting out her BTL?

What pi@ses me off about her attitude is that she gives the impression that she's hard done by and up against it, while at the same time boasting about her BTL portfolio. Why couldn't the BBC find someone in exactly her position (pregnant, in debt, work worries etc) but who's renting? Oops, sorry - I forgot - nobody rents in the BBC...

I have no sympathy for anyone in a high paying job without the foresight of having cash readily available for a rainy day.

I have even less sympathy for someone foolish enough to have BTL properties which are let where they are unable to repay the monthly repayment (even they bought stupidly or they are pulling a fast one on the tenants). Neither reason is acceptable.

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Has anyone noticed that the BBC have not offered the "have your say" option, this woman is pathetic, i would love to have my say.

There are, and will be many very sad storys when it comes to debt problems, this is not one of them, her idea of a debt problem is that she will probably not be able to afford this years skiing holiday and update her 4x4.

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I heard this woman in You and Yours on R4 a few days ago. She said that her debts were £300,000!

The main thrust of the article was the unsympathetic attitudes of her lenders, what a shame. However, when talking about her income she did refer to a "small amount of income" from her buy to let properties. It certainly sounds as if she's screwed in every direction now she's lost her job in IT. What was missing from her and the programme was any reference to her own responsibility for the situation. Her debt advisor is providing the moral support and the lenders are all the bad guys for wanting to uphold their contracts...

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If she gets a small amount of income from her buy to let's, surely that must mean she has sufficient amount of equity within them to a) cover the mortgage with the rent comfortably, and B) therefore not be in negative equity should she come to sell one, at their current market price, meaning that c) she would have some money to live on?

Therefore like any investment we make in our lives when the going gets tough, we have to realise some of that investment to then move forward in life - 2 steps forward 1 step back in life etc.

I continue to find it amazing the amount of emotion some buy to letters attach to their investment properties. Surely buying a btl should be a purely economic facts based investment decision?!!?! No emotion whatsoever!

When a share you buy starts falling in value, or you need money - would you hold on to it through thick and thin because it reaffirmed your self important social concept of yourself?

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Typical of an amateur BTL LL. No sympathy for them whatsoever. If you are going to make it your business to own more than your share of property you better be successful at it, because the social repurcusions of failing in a market where it denies others the right to own THEIR own house means i have what is approaching negative values of sympathy for anyone in this position.

Let em all sink to the gloomy depths in their own ill managed property portfolio wet dreams is what i would wish for.

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I continue to find it amazing the amount of emotion some buy to letters attach to their investment properties. Surely buying a btl should be a purely economic facts based investment decision?!!?! No emotion whatsoever!

When a share you buy starts falling in value, or you need money - would you hold on to it through thick and thin because it reaffirmed your self important social concept of yourself?

Below is a photo of the Tuscan hilltown of san Gimignano, famed for its medieval towers. These served no purpose other than to display the wealth of the town's wealthiest families, who vied for the tallest tower to achieve social prestige.

san-gimignano-550.jpg

So it is with BTL. It is not only an investment, but a physical manifestation of the owner's wealth, status and self worth. To sell a BTL would be akin to a wealthy medieval Tuscan knocking down one of his towers - an admission of failure and a fall from grace.

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She was whining on Your and Yours again today, in response to critical emails from listeners suggesting she sells a property. Selling a BTL is no use because it would take 2-6 months to release the cash, and then the clincher: she may end up owing tax to Revenue and Customs. It wasn't made entirely clear but I think she's in negative equity.

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This new wave of pseudo-entrepreneur are all for bragging about how many investment properties they own during the good times. What happens now? Greed is catching up with these people and it's about time. They have no business acumen and have only the market inertia to thank for keeping their heads above water. If you want to play monopoly properly it's best to have a business plan that includes some sort of contingency. Amateur muppet. It would make me laugh if she loses the lot and has to rent off another greedy amateur BTL.

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This story being run by the BBC is bad. She does sound like a fool and hardly an average joe.

With regards to the towers, I bet the richest family of all didn't even build a tower. Just enjoyed their wealth.

And slightly off topic I know but I wondered, if BTL landlords are the scourge that have single handedly driven house prices up to unaffordable levels, who drove the pre 1988 market?

Although BTL has been the buzz word for the first decade of this century, landlords alone cannot be blamed for the rise in prices.

What can be blamed, as was the case pre 1988, is the greed of the masses. Not just BTL, everyone.

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Speak for yourself you stupid cow.

Not everyone who is in debt is stupid. Don't tar all those who have debts with those who insist on buying new cars and playing "Keeping Up With The Jones". I'm slightly in debt (excluding a mortgage, it's three figures) for a multitude of reasons, but a major one is that we've just had a baby and job openings for mothers are quite small and not necessarily very well paid. My one income keeps three people alive.

Unless you've paid off your mortgage you are a debtor. If you have paid off your mortgage you are either lucky, incredibly prudent, probably quite old (and thus bought a house that is, comparitively, incredibly cheap compared to the current market) - or you've inherited money. It's a fact of life that almost everyone will be in debt at some point.

A big factor in debt is the fact that employers will pay the bare minimum they can to stop you quitting, yet charge you as much as they can without losing business.

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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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