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The Relentless Hunger For Btl

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Just another anectdotal but I was at a party on Saturday, chatting to a JP Morgan banker aged about 40, who you might imagine knew a little about asset prices and bubbles. He announced he was looking for a BTL in London but EAs were giving him short shrift because he was looking to buy something sub-£0.5m. :) his point, missing the point somewhat, was that there had to be money in offering a better service than EAs currently offer.

I could not be bothered to do the usual and ask why he would bother for 4% yields against 6% lending costs plus voids, maintenance etc... :huh:

S.

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People with money ALWAYS think they know best - when in fact it mainly just down to LUCK

F*** 'em....

Maybe but I still would have expected better sense from a supposedly high flying banker involved in quite a difficult area of trade.

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Maybe but I still would have expected better sense from a supposedly high flying banker involved in quite a difficult area of trade.

Funnily enough I also know a banker from JP Morgan who lives in rented accomodation because he thinks the housing market is due a sharp correction

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Guest mattsta1964

Funnily enough I also know a banker from JP Morgan who lives in rented accomodation because he thinks the housing market is due a sharp correction

I also met a banker this weekend and when I explained that I want to sell up and rent for a few years he smiled knowingly and said I was probably 'doing the right thing' I pretty sure he wasn't being sarcastic! :rolleyes:

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I also met a banker this weekend and when I explained that I want to sell up and rent for a few years he smiled knowingly and said I was probably 'doing the right thing' I pretty sure he wasn't being sarcastic! :rolleyes:

Looks like I just happened to meet the one dumb banker at JPM-maybe his mates are sniggering at him from behind the stationery cupboard for going into BTL...

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I know a bloke who knows a bloke who's brother cleans the toilets at JP Morgan, and he says BYO works great out in Oz, wonders why it hasn't caught on here yet.

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Funnily enough I also know a banker from JP Morgan who lives in rented accomodation because he thinks the housing market is due a sharp correction

An uncle of mine has just sold his flat in Mayfair for £6m and is moving into a rented place round the corner. Whilst we were having lunch, two friends of his came over and said they were trying to offload properties sharpish as they wanted to "be in cash". All self made men, all heading for the exit :lol:

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Just another anectdotal but I was at a party on Saturday, chatting to a JP Morgan banker aged about 40

S.

There's your problem, there. Why hasn't he retired by now?

I worked recently for a banker who didn't own property and rented in Belgravia. I thought he was smart until it turned out he'd been doing it for eight years.

Edited by Lionel Richtea

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There's your problem, there. Why hasn't he retired by now?

I worked recently for a banker who didn't own property and rented in Belgravia. I thought he was smart until it turned out he'd been doing it for eight years.

I think my point was he was old enough to remember the last bust.

There are plenty of fools in banking-

No wonder banks get into periodic crisis. And they are headed towards another

Apparently there are.

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I worked recently for a banker who didn't own property and rented in Belgravia. I thought he was smart until it turned out he'd been doing it for eight years.

Couldn't have been very smart employing a ridiculous biscuit bouffant tragedy on legs like you!

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Couldn't have been very smart employing a ridiculous biscuit bouffant tragedy on legs like you!

Don't diss the 'fro.

Could have been worse... the other avatars to choose from were Simon le Bourbon, Sid Viscount and Vanilla Iced Gem

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  • 302 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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